Calpars reported a loss of 6.1% for its fiscal year

The California Public Employees Retirement System delivered a minus 6.1% return for the year ended June 30, the fund said Wednesday.

The loss of the country’s largest pension fund reflects a disappointing investment climate for institutional and domestic savers over the past 12 months. This is also bad news for other pension funds across the country, which have a tendency to mix up their portfolios.