Commentary If you have had a chance to look at your 401(k) or IRA rollover quarterly statement for June 30, then you’ve probably got a smile on your face. The stock market has done quiet well over the past year; likely better than most would have expected. The California Public Employees’ Retirement System (CalPERS) on July 12 released its investment performance for the past 12 months. CalPERS is the largest public pension system in the nation and the retirement administrator for the state and most of its counties and cities. The news was good for them, too. Publicly-traded stocks traded over the various markets, returned 36.3 percent. Private equity, early-stage companies in which institutional investors make an ownership play, provided a yield of 43.8 percent. The bond market, however, was not so kind, as interest rates continue to stay relatively low. The fixed income portion of its portfolio stayed flat, …