California’s teacher pension system says its investments earned 1.4 percent in the last fiscal year.
The figure released Tuesday falls short of the 7.5 percent target for the California State Teachers’ Retirement System. But CalSTRS officials say they’re still on track to pay down the system’s unfunded liability by 2046, as required under a plan adopted by the Legislature two years ago.
CalSTRS lost money in global stock markets but made up for it with gains in its private equity, real estate and fixed income portfolios.
The CalSTRS investment fund had just under $190 billion when the fiscal year ended June 30. The pension system serves 900,000 teachers and their families.
The state’s other big pension fund, the California Public Employees’ Retirement System, reported a 0.61 percent gain last year.
Associated Press
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