CalPERS' total assets have hit $401.4 billion — a new high, according to information on the pension fund's website.
The California Public Employees' Retirement System, Sacramento, is 71% funded, current estimates show. This is up from 70.2% as of its June 30, 2018, actuarial valuation. The pension fund has 2 million participants and paid $24.2 billion in benefits in 2019, according materials for the board's Jan. 22 meeting.
Officials at the largest public pension plan in the U.S. are not placing much emphasis on the new milestone.
"While we're pleased we've reached $400 billion, it's a snapshot in time," spokeswoman Megan White said in a written statement. "As a long-term investor, we don't place any significant value in tracking performance from day to day or even quarter to quarter."