California's public-sector retirees already have a place in the sun; CalPERS gives them the money to enjoy it. CalPERS is the California Public Employees' Retirement System, the largest public pension system in the US. It manages retirement and health plans for nearly 2 million beneficiaries (employees, retirees, and their dependents) from more than 2,500 government agencies and school districts. Even though the system's beneficiaries are current or former employees of the Golden State, CalPERS brings its influence to bear in all 50 states and beyond.