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United States – California US$ 350 Billion Origin: Contributions

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Sovereign Wealth Funds

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Established: 1932
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SWFI ID: 100B1000000002
Entity Structure: Retirement System

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Main Office

400 Q Street
Sacramento, CA 95811
United States


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In 1921, the state employees of California had discussions of creating a retirement system for themselves. By 1930, a majority of California voters approved an amendment to the State Constitution to permit pensions to be paid to state workers. In 1932, the State Employees’ Retirement System (SERS) was created.

In the late 1960s, to reflect the retirement system contracting with hundreds of local public agencies, the name changes to the Public Employees’ Retirement System (PERS). In 1962, California state law authorized CalPERS to provide health benefits to state employees. By 1984, CalPERS convinced state voters to allow corporate stock investments in the investment portfolio.

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