US - The results of a new study have found that investments by the California Public Employees' Retirement System (CalPERS) generated US$15.1bn in Californian economic activity during 2006.
The study was compiled by the Applied Research Centre of California State University, Sacramento.
It noted that CalPERS pays 75 cents of every pension dollar from investment earnings, which had a 10-year return of 9.1 percent as of June 30, 2007.
The research added that the other 25 cents was roughly split between employees and tax-supported public employers.
Commenting on the research, Fred Buenrostro, chief executive officer at CalPERS, said: “Our ability to generate jobs, improve communities, and invigorate the California economy is an added benefit to our main mission of maximising investment returns and minimising reliance on members and taxpayers to fund public pensions.”
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