CalPERS expanding horizons.

• Position: News & Numbers - California Public Employees' Retirement System - Brief article

The California Public Employees' Retirement System (CalPERS) recently announced a three-year plan to offer its own set of investment products to local government workers outside of their pensions. If successful, CalPERS potentially would rollout the offering nationwide to consumers.

The CalPERS money managers will create a type of mutual fund using the same kinds of investments already in CalPERs' portfolio. It expects to be able to offer the investments at a relatively low fee while capitalizing on the expertise of its staff. The new initiative will give local and...