Number one - for now.(Editorial)(California Public Employees' Retirement System )

Pensions & Investments, January, 2006

California Public Employees' Retirement System became the first U.S. pension fund to reach $200 billion in assets, continuing its reign as the largest one in the country - but probably not for long. Ranked No. 2, close behind CalPERS' $200.2 billion in assets, is the Federal Retirement Thrift Investment Board, which had $167.2 billion in assets as of Oct.

31. However, the federal fund's growth rate is outpacing that of CalPERS, and if current trends continue, it should overtake CalPERS in the next few years to become the new No. 1 fund. The climb of the Federal Retirement Thrift Savings Plan to near the top of the size represents a number of trends. First, it signifies the switch from defined benefit to defined contribution funds as the basis of the...

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