The California Public Employees' Retirement System, Sacramento, hit the $100 billion mark in assets, Charles P. Valdes, investment committee chairman, announced late yesterday. He said about 81% of the total fund comes from investment returns; the rest is contributed by employers and employees. CalPERS is the largest defined benefit plan in the nation.
The $3.5 billion Montana Public Employees' Retirement System, Helena, is considering increasing its international allocation and could hire an external manager to run the assets. James Penner, CIO of the Montana Board of Investments, which manages the retirement system assets, didn't know how much new money would be involved. The system now has $190 million in internally managed international stocks. System officials could discuss the proposal at their meeting in mid-July, although Mr. Penner stressed no specific time horizon has been established.