INVESTMENT OFFICER II, PUBLIC EMPLOYEES' RETIREMENT SYSTEM

Position Overview

The Real Assets unit is seeking an Investment Officer II to handle the full scope of responsibilities, including independent review for sourcing and underwriting new investment opportunities, managing assigned portfolios, conducting market and sector research, and contributing to strategic planning.

New to State candidates will be hired at the minimum salary for the classification or at the minimum of the alternate range when applicable. The position has a final filing date of 4/9/2026 and offers electronic applications via CalCareer, or by mail or drop-off as detailed below.

Position Details

• Job Code: JC-512293
• Position #(s): 275-640-4671-027
• Working Title: Real Estate Investment Officer
• Classification: INVESTMENT OFFICER II, PUBLIC EMPLOYEES' RETIREMENT SYSTEM
• Salary: $7,993.00 - $10,004.00 per month
• Incentives: Eligible for an annual incentive award and a CFA pay differential. The annual incentive opportunity is 0-10% of salary and depends on performance against multiple measures. CFA certification may qualify for a 5% monthly base pay differential.
• New to State hires: Will be placed at the minimum salary of the classification or the minimum of the alternate range when applicable.

Location, Schedule, and Work Arrangement

• Work Location: Sacramento County
• Telework: Hybrid schedule eligible, up to two days remote and three or more days onsite per week
• Job Type: Permanent, Full Time

Sponsorship and Work Authorization

• Sponsorship: Not eligible for visa sponsorship. Applicants must be authorized to work in the US without the need for visa sponsorship now or in the future.
• Employment Verification: CalPERS does not participate in E-Verify for employment authorization purposes.

Pay Program and Leave Adjustments

• Effective July 1, 2025, PLP 2025 introduces a 3 percent reduction in pay in exchange for 5 hours of PLP 2025 leave credits each month.
• The salary ranges shown do not reflect the 3 percent reduction in pay.

Interview and Application Timelines

• Anticipated Interview Dates: Virtual interviews are expected about one month after the final filing date.
• Final Filing Date: 4/9/2026

How to Apply and Application Process

• Application Methods: Electronic (Using your CalCareer Account), By Mail, or Drop-off

Who May Apply and Selection Process

• Who May Apply: Individuals currently in the classification, eligible for lateral transfer, eligible for reinstatement, have list or LEAP eligibility, are in the process of obtaining list eligibility, or have SROA and/or Surplus eligibility (please attach your letter, if available).
• SROA and Surplus candidates receive priority; others may be considered if no SROA or Surplus candidates apply.
• Applicants eligible for a Training and Development assignment may also be considered.
• Applications will be screened, and only the most qualified will advance in the selection process.

Application Submission Details

• How to Apply: Complete Application Packages (including STD 678 or Electronic State Employment Application) and submit through CalCareer at www.CalCareers.ca.gov. Hard copy submissions may be mailed or dropped off as detailed below.
• Mailing Address for Applications:
  Public Employees Retirement System
  Attn: JC-512293/KC
  Human Resources Division, Recruitment
  P. O. Box 942718
  Sacramento, CA 94229-2718
• Drop-Off Address for Applications:
  Public Employees Retirement System
  Drop-Off
  HRSD, EIR JC-512293/KC
  400 Q Street, Lincoln Plaza North
  1st floor drop box by security desk
  Sacramento, CA 95811
  Hours: 08:00 AM - 05:00 PM

Required Application Package Documents

The following items are required to be submitted with your application. Applicants who do not submit the required items timely may not be considered for this job: Current version of the State Examination/Employment Application STD Form 678 (when not applying electronically), or the Electronic State Employment Application through your Applicant Account at www

Minimum Qualifications and Special Requirements

All experience and education related to the Minimum Qualifications (MQs) listed on the Classification Specification should be included in your application package to demonstrate how you meet the MQs for this position. The Classification Specification is located on this Job Posting under "Minimum Requirements." A passing examination may be required to establish list eligibility prior to any job offer. To locate and take an exam, visit CalHR’s CalCareers website.

Career Services & Outreach

The CalPERS Career Services & Outreach (CSO) team provides support throughout the hiring process, including one-on-one online consultations for application assistance, Statement of Qualification review, and interview preparation. To schedule an appointment, use the CSO consultations booking link provided in the posting.

Department Information

California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $601.37 billion as of March 18, 2026. Headquartered in downtown Sacramento, CalPERS is a destination employer known for leadership and innovation. The agency is located near Napa Valley, San Francisco, Lake Tahoe, and other desirable destinations, offering competitive benefits, compensation, and opportunities for advancement. CalPERS emphasizes a mission and vision guided by Investment Beliefs, and is committed to a diverse, inclusive workforce that values talent, experience, and expertise.

To learn more about our Diversity, Equity, and Inclusion efforts, please visit our website. For a look at CalPERS as a destination employer, view the related YouTube video.

Special Notes

Special Requirements and qualifications are described in the Minimum Qualifications section. Please ensure your application includes all relevant education and experience to meet MQs.