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The California Employers’ Retiree Benefit Trust Fund was established by CalPERS in March 2007 to provide California public agencies with a cost-efficient, professionally managed investment vehicle for prefunding other post-employment benefits (OPEB) such as retiree health benefits. Prefunding reduces an agency's long-term OPEB liability.
In 2012, it managed defined benefit pension plans for 156,563 civil servants (members), including 56,752 retirees, making it the largest county retirement system in the United States. [ 4 ] [ 5 ] In 2018, LACERA's net assets were worth US$55.8billion .
Many U.S. cities are allowed to participate in the pension plans of their states; some of the largest have their own pension plans. The total number of local government employees in the United States as of 2020 is 14.3 million. There are 11.1 million full-time and 3.1 million part-time local-government civilian employees as of 2020. [16]
As Andreessen was launching the new fund this year, a16z’s head of investor relations, Jen Kha, registered as a lobbyist in California for the first time, according to records reviewed by Fortune.
The California State Teachers' Retirement System (CalSTRS) provides retirement, disability and survivor benefits for California's 965,000 prekindergarten through community college educators and their families. [1] CalSTRS was established by law in 1913 and is part of the State of California's Government Operations Agency.
The rankings below are the 30 largest public pension plans in the U.S., according to the 2018 list compiled by Pensions & Investments. [1] Because this information is now several years old, the numbers and rankings may no longer be entirely accurate.
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1991: A Magazine article claims that pension- and retirement funds own 40% of American common stock and represent $2.5 trillion in assets. Growth and Decline of Defined Benefit Pension Plans in the United States. In 1980 there were approximately 250,000 qualified defined benefit pension plans covered by the Pension Benefit Guaranty Corporation ...