CalPERS Board Re-Elects Feckner as President; Diehr as Vice President
Pension Fund returned 1.3% on investments last year
The California Public Emploees' Retirement System (CalPERS) Board of Administration unanimously re-elected Rob Feckner as Board president and George Diehr as vice president. Feckner will be serving his ninth term as president, and Diehr will be in his sixth vice presidential term.
CalPERS also announced that it earned a 1.3% return on its investments for the 12-month period that ended December 31, 2012. The pension fund has gained 71.1% in the first six months of the 2012-2013 fiscal year.
"My colleagues have shown tremendous trust in me to guide CalPERS and I appreciate their faith in my leadership," said Feckner. "As we emerge from this recession, I am positive we will contiinue on the path of improved transparency, accountability and ethics that enhance our ability to provide retirement and health security to the public employees who serve our state,"
Feckner was first elected as the representative of CalPERS school members in 1998. He also chairs the Board Governance committee, and is a member of the Investment, Pension & Health Benefits, and Risk & Audit committees.
Feckner has worked for the Napa Valley Unifed School District fot the past 35 years. He is isthe past president of the California School Employees Association and is currently executive vice president of the California Labor Federation.
The Board President oversees the Board's business, sets meeting schedules and agendas with input from other Board Members and Executive Staff, makes appointments to board policy committees, and represents CalPERS to outside parties.
Diehr, who is elected by State employees, including employees of the California State University system, was first elected to the CalPERS Board in 2002. In addition to serving as vice president, he also chairs the Finance and Administration Committee, is vice-chair of the Board Governance, Investment, and Pension & Health Benefits Committees, and serves on the Risk & Audit Committee. "I appreciate the opportunity to continue serving in a leadership role at CalPERS," siad Diehr. "I look forward to working with my colleagues, our fine staff and our constitutents to make sure that we offer well-managed, high-quality benefit programs for California's hard-working public employees." Dr. Diehr has been a professor in the College of Business Administration at California State University, San Marcos, since 1990. He is also active in the California Faculty Association. The Board vice president assumes the president's duties when the president is absent and carries out special duties assigned by the Board president.
CalPERS 13.3% return for the 2012 calendar year was led by strong gains in global stocks and real assets including stakes in office, apartment, industrial and office buildings. Public Equity earned a 17.2% gain while Real Assets garnered a 12.8% return.
The remainder of CalPERS asset classes also showed positive results as follows:
Private Equity 12.2%
Fixed Income 7.6%
Absolute Return 3.2%
CalPERS is the largest public pension fund in the U.S. with approximately $250 billion in assets. The retirment system administers retirement benefits for more than 1.6 million current and retired California State, public school, and local public agency employees and their families on behalf of more than 3,000 public employers in the state, and health benefits for 1.3 millioin enrollees. For more information about CalPERS, visit www.calpers.ca.gov