Updated with correction
CalPERS earned a net return of 12.4% for the year, 8.4% for the three years, 9.7% for the five years and 8.4% for the 10 years years ended Dec. 31, CEO Marcie Frost said Tuesday at a board meeting.
The $444.5 billion California Public Employees' Retirement System, Sacramento, earned 6.3% for the 20-year period. Benchmark returns for the periods were not available.
Separately, the board re-elected Henry Jones as president and Theresa Taylor as vice president of the board.
"Over the last year we have to conduct the work of the board in an environment that none of us ever expected," Mr. Jones said. Both Mr. Jones and Ms. Taylor said they looked forward to the day when the board could again meet in person.