|A. Accrued liability||$75.9B||$436.7B|
|B. Actual value of assets||$75.9B||$298.1B|
|C. Value of assets based on ?.??% return||$75.9B||$261.6B|
|D. Actual funded status (B ÷ A)||100%||68.3%|
|E. Funded status based on ?.??% return (C ÷ A)||100%||69.8%|
This tool displays the actual funded status of the CalPERS PERF fund during the 23-year period of 1993 to 2016. It compares the actual funded status to what it would have been had investments yielded a fixed return in each of those 23 years.
In 1993 the funded status was 100%, but by 2016 it had dropped to 68.3%, a shortfall of $138.6B. The shortfall is often blamed on investment return being less than hoped for. This tool allows you to explore if this is actually true or not.
Select a value for the fixed return using the form above. Hover your mouse cursor over the plots to see numerical values. Here are some example returns you might want to try: