CalPERS' Liquidity Program consists of highly liquid short-term securities with maturities of less than 10 years. The program provides the pension with cash to meet investment needs as well as any obligations of the plan.

Assets in the Portfolio: U.S. treasury securities with maturities less than 10 years

Investment Division: Income

Current Portfolio Size: View CalPERS Investment Fund Values.

Investment Proposals: The Liquidity Program is 100 percent internally managed. CalPERS is currently not accepting investment proposals for the Liquidity Program.

Emerging Manager Program: There are currently no Emerging & Transition Manager Programs for Liquidity.

Policy: Total Fund Investment Policy

View all Investment Policies.

View CalPERS Beliefs for our views on public pension design, funding, and administration.