CalPERS expanding horizons.(News & Numbers)(California Public Employees' Retirement System)(Brief article)

The California Public Employees' Retirement System (CalPERS) recently announced a three-year plan to offer its own set of investment products to local government workers outside of their pensions. If successful, CalPERS potentially would rollout the offering nationwide to consumers.

The CalPERS money managers will create a type of mutual fund using the same kinds of investments already in CalPERs' portfolio. It expects to be able to offer the investments at a relatively low fee while capitalizing on the expertise of its staff. The new initiative will give local and state government workers access to the fund managers' expertise for their personal retirement funds as well as their government pensions.

CalPERS Chief Investment Officer says this will put the organization in position with investment options for self-directed private investment accounts or direct contribution plans if those become mandated or more common.

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