CalPERS Paid Out $13B in Benefits in FY 2011-2012
On Wednesday, CalPERS reported that it spent $13 billion in benefits in the fiscal year that ended June 30, 2012. According to CalPERS, those payments generated an additional $17.6 billion in business revenue and about $30 billion in economic activity.
- "CalPERS Reports Paying $13 Billion in 2011-12 Benefits" (Young, Sacramento Business Journal, 4/2).