1) California Public Employees’ Retirement System Communications & Stakeholder Relations Office of Public Affairs 400 Q Street, Sacramento, CA 95811 (916) 795-3991 phone • (916) 795-3507 fax www.calpers.ca.gov FACTS AT A GLANCE January 2016 Facts at a Glance is a compilation of monthly information of interest to Board Members, staff, and the general public. Every effort has been made to verify the accuracy of the information, which is intended for general use only. Figures are as of June 30, 2015 unless otherwise noted. OVERVIEW OVERALL MEMBERSHIP 611,078 Retirees/beneficiaries/survivors receiving a monthly allowance Active & inactive members 1,204,621 Total members 1,815,699 MEMBERSHIP TOTALS BY CATEGORY (ALL MEMBERS) State members 556,640 (31%) School members 687,117 (38%) Local public agency members 571,942 (31%) PENSION INFORMATION (FY 2013-14 RETIREES) Average monthly service retirement allowance, all service retirees $2,627 Average years of service, all service retirees 20.4 Average monthly service retirement allowance for state misc. members (tier 1) $2,825 Average years of service state misc. retiree 23.2 Average monthly service retirement allowance for school misc. members $1,438 Average years of service school misc. retirees 17.0 Average monthly service retirement allowance for public agency misc. members Average years of service public agency misc. retirees Average age at retirement, all members $2,826 20.2 Service: 60 Disability: 50 Industrial Disability: 46 Employee contributions $3.7 billion Employer contributions $10.1 billion 1 

2) NEW SERVICE RETIREES BY EMPLOYER TYPE EMPLOYER FISCAL YEAR STATE SCHOOLS PUBLIC TOTAL % CHANGE FY 2014-15 9,095 7,119 8,025 24,239 -5.0 FY 2013-14 8,884 9,488 9,168 27,540 -11.0 FY 2012-13 10,821 9,857 10,293 30,971 3.2 FY 2011–12 10,296 9,775 9,928 29,999 -8.1 FY 2010–11 11,566 10,334 10,730 32,630 8.3 FY 2009–10 10,734 9,449 9,936 30,119 22.6 CalPERS EMPLOYERS Public Agencies 1,583 School Districts 1,423 Total 3,007 BOARD OF ADMINISTRATION CalPERS is governed by a 13-member Board of Administration. Visit the CalPERS website for Board structure, composition and responsibilities. CalPERS EMPLOYEES 2,765* *Total number of authorized positions as approved by the CalPERS Board of Administration. 2 

3) CalPERS TOTAL BUDGET FY 2015-16 Approved Budget ($Millions) Administrative Operating Costs Investment External Management Fees consist of both Base Fees and Performance Fees. * $443.5 Investment Operating Costs $83.0 Total Operating Costs $526.5 Enterprise Project Costs $37.5 Headquarters Building Costs $30.3 Subtotal $594.3 Investment External Management* Fees3 Third-Party Administrator Fees $930.7 $294.6 CalPERS Total Budget $1,819.7 FUNDING STATUS ACTUARIAL INFORMATION Each year, CalPERS actuaries calculate a funded ratio—the ratio of market value of assets in the fund to the liabilities for each retirement plan. The funded ratios vary from year to year and are based on the market value of assets. Funded Status of Retirement Plans by Member Category Member Category 6/30/11 6/30/11 6/30/12 6/30/13* 6/30/14 State 70.3% 70.3% 66.1% 66.1% 72.1% School 78.7% 78.7% 75.4% 76.2% 82.0% Public Agency 74.3% 74.3% 70.1% 70.5% 77.9% Total Fund 73.6% 73.6% 69.6% 69.8% 76.3% * All June 30, 2013 funded status statistics are based on the new actuarial assumptions. For funding purposes, the new assumptions were used for the June 30, 2013 valuation for the state plans. These new assumptions apply for funding purposes beginning with the June 30, 2015 valuation for the schools pool and the June 30, 2014 valuation for public agencies. 3 

4) INCOME TOTALS OVER THE PAST 10 FISCAL YEARS MEMBER CONTRIBUTIONS YEAR 2014-15 $3,724,310,000 2013-14 $3,775,038,000 2012–13 $3,896,078,000 2011–12 $3,598,437,000 2010–11 $3,600,089,338 2009–10 $3,378,866,892 2008–09 $3,882,355,341 2007–08 $3,512,074,936 2006–07 $3,262,699,076 2005–06 INVESTMENT AND E M OTHER INCOME P L $7,172,685,000 O Y $45,598,044,000 E R $3,080,878,521 TOTAL CalPERS FUND MARKET VALUE As of December 31, 2015: $288.9 billion INVESTMENT PORTFOLIO MARKET VALUE As of November 30, 2015: ALLOCATION & MARKET VALUE BY ASSET CLASS $$30,291,983,000 C 8 O $ N-$196,014,000 , 7 T 1$43,907,435,683 $ R , I 2 7 7$25,577,529,796 $ B 3 U , 7 T 6 ,-$57,363,897,989 4 $ I 2 , 8 O 6 ,-$12,492,908,035 9 N $ 3 5 S , 9 5 7 3 , $ 9$40,757,380,692 1 5 , , 3 6 1 3$22,041,265,666 , $ 2 0 9 , 2 , 0 6 4 0 7 4 , 0 4 , 2 0 , 4 3 0 9 , 4 2 7 0 , 9 8 9 , 6 0 5 8 3 , 7 , 2 8 5 8 0 , 3 6 2 0 , 3 9 0 8 , 1 6 4 8 2 ACTUAL INVESTMENT 4 (BILLIONS) CURRENT ALLOCATION (%) INTERIM STRATEGIC TARGET (%)* 63.1 61.0 $185.4 Public Equity 53.7 51.0 $157.8 Private Equity 9.4 10.0 $27.6 Income 19.1 20.0 $55.9 Real Assets 11.0 12.0 $32.2 Real Estate 9.4 10.0 $27.7 Forestland 0.8 1.0 $2.2 Infrastructure 0.7 1.0 $2.2 Liquidity 1.4 1.0 $4.0 Inflation 4.9 6.0 $14.4 Trust Level** 0.6 N/A $1.7 100.0 100.0 $293.6 ASSET CLASS Growth Total Fund * Interim strategic targets adopted by the Investment Committee at the June 2015 Board of Administration meeting. ** Trust Level includes: Absolute Return Strategy, Multi Asset Class, and Overlay, Transition, and Plan Level. 4 

5) GROWTH OF FUND YEAR YEAR-END 6/30 (BILLIONS) YEAR END 12/31 (BILLIONS) 2015 $301.9 - 2014 $300.3 $295.8 2013 $257.9 $283.6 2012 $233.4 $248.8 2011 $237.5 $225.0 2010 $200.0 $225.7 2009 $180.9 $203.3 2008 $ 239.2 $183.3 2007 $247.7 $252.9 2006 $208.0 $230.3 2005 $ 189.7 $200.6 TOTAL FUND NET RATE OF RETURNS Fiscal year to date ended 6/30/2015 2.4% 3 years for period ended 6/30/2015 10.9% 5 years for period ended 6/30/2015 10.7% 10 years for period ended 6/30/2015 6.2% 20 years for period ended 6/30/2015 7.8% HISTORICAL NET RATES OF RETURNS YEAR YEAR-END 6/30 (%) YEAR-END 12/31 (%) 2015 2.4 - 2014 18.4 6.5 2013 12.5 16.2 2012 1.0 13.3 2011 20.7 1.1 2010 11.1 12.5 2009 -23.6 11.9 2008 -2.9 -27.1 2007 18.8 10.0 2006 11.9 15.4 2005 12.2 10.4 5 

6) CALIFORNIA INVESTMENTS As of October 31, 2015: Approximately $57.8 billion—or 19.5% percent of total Fund. ASSET CLASS ACTUAL INVESTMENT (BILLIONS) Public Equity Private Equity1 Income Real Estate2 Infrastructure2 Other3 Total Fund $13.9 $3.5 $33.6 $6.7 $0.1 $0.0 $57.8 1 Due to reporting constraints, Private Equity is as of March 31, 2015. 2 Due to reporting constraints, Real Estate is as of August 31, 2015 and Infrastructure is as of June 30, 2015. 3"Other" consists primarily of Forestland, Inflation, and Liquidity. HEALTH BENEFITS CalPERS HEALTH PROGRAM ï‚· Covers over 1.4 million active and retired state, local government, and school employees and their family members ï‚· Purchases health benefits for the State of California and more than 1,100 local and government agency and school employers ï‚· Largest public employer purchaser of health benefits in California and the second largest employer purchaser in the nation after the federal government ï‚· Spent more than $7.74 billion in 2014 to purchase health benefits HEALTH CARE PLANS ï‚· Six Health Maintenance Organization (HMO) plans – Anthem Blue Cross, Blue Shield of California, Health Net, Kaiser Permanente, Sharp, and UnitedHealthcare ï‚· Two Exclusive Provider Organization (EPO) plans – Anthem Blue Cross and Blue Shield of California ï‚· Three self-funded Preferred Provider Organization (PPO) plans administered by Blue Cross – PERS Select, PERS Choice, and PERSCare ï‚· Three plans for Association members – California Association of Highway Patrolmen (CAHP) Health Benefits Trust, California Correctional Peace Officers Association (CCPOA), and Peace Officers Research Association of California (PORAC) 6 

7) HEALTH PLAN MEMBERSHIP As of December 1, 2015: ENROLLMENT EMPLOYEES DEPENDENTS TOTAL MEMBERS State Active 216,011 326,724 542,735 State Retired 175,121 112,408 287,529 State Total 391,132 439,132 830,264 State Employees – 58.81% Public Agencies (Local Government & School Employees) – 41.19% Public Agency Active 185,400 243,180 428,580 Public Agency Retired 100,740 52,188 152,928 Public Agency Total 286,140 295,368 581,508 Active – 59.27% 401,411 569,904 971,315 Retired – 40.73% 275,861 164,596 440,457 HMO – 67.7% 447,822 507,473 955,295 PPO – 25.3% 195,837 161,739 357,576 Association Plans – 7.0% 33,613 65,288 98,901 677,272 734,500 1,411,772 Total Program Total Program ANNUAL HEALTH PROGRAM SPENDING (PER DAY) 2014 $21.2 million 2013 $20.6 million 2012 $19.3 million TOTAL HEALTH PREMIUM Estimates (in Billions) STATE PREMIUM SHARE ESTIMATES Actives State Retirees Total Public Agencies Program and Schools 2014 $7.74 $3.25 $4.49 $2.622 $0.499 $1.337 $0.036 2013 $7.51 $3.14 $4.37 $2.535 $0.468 $1.325 $0.041 2012 $7.02 $2.93 $4.09 $2.325 $0.451 $1.277 $0.038 State contribution amounts to monthly 2014 $512/$1,024/$1,328* $642/$1,218/$1,559 premiums for single, 2-party, and family 2013 $495/$992/$1,288* $622/$1,183/$1,515 plan tiers, respectively. 2012 $452/$905/$1,177* $566/$1,074/$1,382 Employer Member Employer Member *State active health premium contribution for many state members, but not all. Please check specific contract for exact detail. 7 

8) HEALTH PREMIUM CHANGES 2008-14 PLAN PRODUCT & TYPE 2009* 2010* 2011* 2012* 2013* 2014* Overall 6.8% 4.8% 3.2% 9.9% 4.6% 9.5% 3.7% HMOs 7.4% 6.6% 3.4% 10.6% 5.3% 8.7% 3.8% PPOs 4.2% 0.0% 3.3% 8.7% 3.0% 14.0% 2.5% 10.8% 5.0% 0.9% 7.2% 2.7% 3.7% 6.0% Overall 3.0% 0.7% 1.1% 3.4% 0.0% -10.5% -2.0% HMOs -1.6% 1.6% 0.3% 0.2% -0.9% -5.5% PPOs 6.7% 0.0% 1.7% 5.6% 0.7% -14.7% -8.7% Associations Basic Plans 2008* -2.3% 1.3% 2.5% 4.2% 0.9% -0.2% Associations Medicare Plans 5.8% 2.2% *Premium changes for public agencies vary depending on geographic location. CalPERS LONG-TERM CARE PROGRAM ï‚· Provides financial protection from the high cost of extended care, including nursing home care; CalPERS program is not-for-profit and self-funded; began in January 1995 ï‚· All California public employees, retirees, their spouses, parents and parents-in-law, and adult children and siblings (age 18-79) are eligible to apply ï‚· Participants enrolled as of June 30, 2015 – 136,253 ï‚· More than $1.7 billion in benefits paid since the program’s inception through June 30, 2014 ï‚· Benefits paid through June 30, 2015 – $248.8 million ï‚· Annual premiums received from July 1, 2014 through June 30, 2015 – $272.4 million 8 

9) SYSTEM AND FUNDS LEGISLATORS’ RETIREMENT SYSTEM (LRS) The LRS is available to members of the California Legislature serving prior to November 7, 1990; all were elected constitutional officers and legislative statutory officers. This system was closed to Legislators after November 7, 1990, by virtue of an initiative passed by the electorate. Active Membership (as of June 30, 2015) Members of the Legislature 1 Constitutional officers 8 Legislative statutory officers 0 Total 9 Inactive Membership (as of June 30, 2015) Members of the Legislature 5 Constitutional officers 6 Legislative statutory officers 2 Total 13 Retirees, Survivors & Beneficiaries (as of December 31, 2015) Total 241 Benefit Payments: Fiscal year to date (as of December 31, 2015) Total $3,531,512 JUDGES’ RETIREMENT SYSTEM (JRS) The JRS provides benefits for State Supreme and Appellate Court justices, and Superior Court and Municipal Court judges who were appointed or elected before November 9, 1994. Membership (as of June 30, 2015) Active 232 Inactive 9 Total 241 Retirees, Survivors & Beneficiaries (as of December 31, 2015) Total 1,915 Benefit Payments: Fiscal year to date (as of December 31, 2015) Total $99,404,642 9 

10) JUDGES’ RETIREMENT SYSTEM II (JRS II) Established in 1994, JRS II provides benefits for State Supreme and Appellate Court justices, Superior Court judges, and Municipal Court judges who were appointed or elected after November 9, 1994. Membership (as of June 30, 2015) 1,470 Active Members Retirees, Survivors & Beneficiaries (as of December 31, 2015) Total 106 Benefit Payments: Fiscal year to date (as of December 31, 2015) Total $4,690,497 CALIFORNIA EMPLOYERS’ RETIREE BENEFIT TRUST FUND As of December 31, 2015: The California Employers’ Retiree Benefit Trust Fund was established by CalPERS in March 2007 to provide California public agencies with a cost-efficient, professionally managed investment vehicle for prefunding other post-employment benefits (OPEB) such as retiree health benefits. Prefunding reduces an agency’s long-term OPEB liability. Participating agencies can use investment earnings to pay future OPEB liabilities, similar to the CalPERS pension fund in which three out of four dollars paid in retirement benefits come from investment earnings. Agencies added: ï‚· ï‚· ï‚· ï‚· ï‚· San Joaquin Delta Community College District City of Scotts Valley City of Torrance Laguna Beach Unified School District Santa Monica-Malibu Unified School District Assets under management in trust fund: $4.6 billion Participating public agencies: 471 CalPERS DEFFERED COMPENSATION PLAN As of November 30, 2015: The CalPERS Supplemental Income 457 Plan is a deferred compensation retirement savings plan that public agency and school employers may adopt and offer to their employees to help them reach their retirement income goals. ï‚· 27,858 participants ï‚· $1.3 billion in total assets ï‚· 756 contracting agencies 10 

11) PEACE OFFICERS’ AND FIREFIGHTERS’ (POFF) DC PLAN California legislation enabled the termination of the Peace Officers’ & Firefighters Supplemental Plan (POFF) and the distribution of all funds in POFF participant accounts. On March 2, 2015, any participants who did not make an affirmative election to request a distribution from their POFF account had their funds rolled over in to the CalPERS Supplemental Contribution Program, per statute. SUPPLEMENTAL CONTRIBUTIONS PLAN As of November 30, 2015: The Supplemental Contributions Plan is an after-tax supplemental contributions program available to state employees and members of the Judges’ Retirement System I and II. Additionally, the California State Legislature selected CalPERS Supplemental Contribution Plan (SCP) as the default option for those participants who did not make an affirmative election to request a distribution from their POFF account balance prior to the plan terminating. ï‚· 8,553 participants ï‚· $124 million in total assets invested ï‚· $13,386 total monthly contributions CalPERS GLOBAL GOVERNANCE PROGRAM For corporate governance and additional investment information, please visit the Governance page of our website. STATE LEGISLATION CalPERS Governmental Affairs Office provides bill analyses and tracks the current status of important state legislation. Visit the Laws & Regulations page of our website for more details. 11