January 14, 2013
External Affairs Branch
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
Contact: Joe DeAnda, Information Officer
CalPERS Board Re-Elects Feckner as President; Diehr as Vice President
Pension Fund returned 13.3 percent on investments last year
MONTEREY, CA – The California Public Employees' Retirement System (CalPERS) Board of Administration today 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 13.3 percent return on its investments for the 12-month period that ended December 31, 2012. The Pension Fund has gained 7.1 percent in the first six months of the 2012-13 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 continue 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 Unified School District for the past 35 years. He is the 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 & 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," said Diehr. "I look forward to working with my colleagues, our fine staff and our constituents 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 percent 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 percent gain while Real Assets garnered a 12.8 percent return.
The remainder of CalPERS asset classes also showed positive results as follows:
CalPERS is the largest public pension fund in the U.S. with approximately $250 billion in assets. The retirement 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 million enrollees. For more information about CalPERS, visit www.calpers.ca.gov.