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CalPERS board education day covered AI, health initiatives; fund now 84% funded with nearly $600 billion in assets

California Public Employees Retirement System (CalPERS) town hall · January 28, 2026

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Summary

At the Jan. 31 town hall, board representative Yvonne Walker summarized a recent board education day on investments and health programs and said the pension fund is 84% funded with nearly $600 billion in assets as of Dec. 31, a 5 percentage‑point improvement from six months earlier.

Yvonne Walker said the board recently held a two‑day education session and stakeholder forum that included briefings on investment strategy, health‑program progress, and a discussion about the effect of artificial intelligence on investment markets.

On health initiatives, Walker said CalPERS has seen progress on outcomes for conditions such as hypertension and diabetes. She also noted that a surcharge added in 2023 to rebuild the fund that pays for health care will be removed starting with 2027 premiums, which is expected to reduce PPO pricing beginning in 2027.

Walker reported the pension fund’s funded status is 84% with nearly $600,000,000,000 in assets as of Dec. 31 and that funded status improved about 5 percentage points from six months earlier. She framed the total‑portfolio approach as the board’s ongoing investment strategy.

The town hall was informational; no board votes or formal policy actions were taken during the session.