CalPERS

Latest stories

13h
Lake Tahoe News
EDC budget boondoggle a disgracebe filled unless funded within the budget. The problem is that 4.5 percent equa
EDC budget boondoggle a disgrace
Lake Tahoe News / Posted 13 hours ago
be filled unless funded within the budget. The problem is that 4.5 percent equates to $7 million this year and growing from CalPERS and health benefits as the contribution requirement are on a huge uptick as it was recently reported employer... Read more
2d
Marin Independent Journal
Public’s top brass should get out of workers’ pension fundsconflict of interest is to shift senior managers’ pensions out of the Californi
Public’s top brass should get out of workers’ pension funds
Marin Independent Journal / Posted 2 days ago
conflict of interest is to shift senior managers’ pensions out of the California Public Employees Retirement System — CalPERS — and the Marin County Employees Retirement Association, and into a new executive retirement plan. What’s needed is... Read more
2d
The Mercury News
Pension claim denied for CEO of Silicon Valley nonprofitpensions receive them," said Matthew Jacobs, general counsel for the California
Pension claim denied for CEO of Silicon Valley nonprofit
The Mercury News / Posted 2 days ago
pensions receive them," said Matthew Jacobs, general counsel for the California Public Employees' Retirement System, or CalPERS. "We remain on the lookout for all abuses and encourage the public to help in those efforts." Both King and the... Read more
3d
Lake Tahoe News
Battery charges delay ex-CalPERS chief's sentencingBy Dale Kasler, Sacramento Bee CalPERS’ former chief executive, sitting in jai
Battery charges delay ex-CalPERS chief's sentencing
Lake Tahoe News / Posted 3 days ago
By Dale Kasler, Sacramento Bee CalPERS’ former chief executive, sitting in jail for allegedly committing battery against a former girlfriend, is expected to have his sentencing postponed a week for his role in the pension fund’s bribery... Read more
2 related stories
4d
The Sacramento Bee
Former CalPERS chief faces bribery sentencing delay after battery chargesCalPERS’ former chief executive, sitting in jail for allegedly committing batte
Former CalPERS chief faces bribery sentencing delay after battery charges
The Sacramento Bee / Posted 4 days ago
CalPERS’ former chief executive, sitting in jail for allegedly committing battery against a former girlfriend, is expected to have his sentencing postponed a week for his role in the pension fund’s bribery scandal. Fred Buenrostro was scheduled to... Read more
2 related stories
4d
Naked Capitalism
Dan Loeb of Third Point Foresees a Hedge Fund "Killing Field"Starting to Abandon Hedge Funds….More Than a Decade Late, when we described a s
Dan Loeb of Third Point Foresees a Hedge Fund "Killing Field"
Naked Capitalism / Posted 4 days ago
Starting to Abandon Hedge Funds….More Than a Decade Late, when we described a sea change underway. Readers may recall that CalPERS, often a trend-setter among public pension funds, had decided to end its hedge fund investment program in late 2014.... Read more
6 related stories
4d
Naked Capitalism
David Loeb of Third Point Foresees a Hedge Fund "Killing Field"Starting to Abandon Hedge Funds….More Than a Decade Late, when we described a s
David Loeb of Third Point Foresees a Hedge Fund "Killing Field"
Naked Capitalism / Posted 4 days ago
Starting to Abandon Hedge Funds….More Than a Decade Late, when we described a sea change underway. Readers may recall that CalPERS, often a trend-setter among public pension funds, had decided to end its hedge fund investment program in late 2014.... Read more
6 related stories
4d
Naked Capitalism
LinksA little birdie told me some of you have written to CalPERS and other Californi
Links
Naked Capitalism / Posted 4 days ago
A little birdie told me some of you have written to CalPERS and other California officials about the pending private equity reform bill, AB 2833. If you have written or called, thanks for your efforts! If you haven’t found the time yet, I hope you... Read more
4d
The Monterey County Herald
Kenneth Petersen, Financial Planning: Investor’s quiztrivia. In any case, I hope you enjoy it. OK, here we go: 1. The California Pu
Kenneth Petersen, Financial Planning: Investor’s quiz
The Monterey County Herald / Posted 4 days ago
trivia. In any case, I hope you enjoy it. OK, here we go: 1. The California Public Employees’ Retirement Systems (CalPERS), as of April 1, manages $290.7 billion in their Total Fund, which pays retirement benefits to retired state... Read more
5d
The Sacramento Bee
Feds issue arrest warrant for ex-CalPERS chief BuenrostroThe former chief executive of CalPERS, already facing prison time for taking br
Feds issue arrest warrant for ex-CalPERS chief Buenrostro
The Sacramento Bee / Posted 5 days ago
The former chief executive of CalPERS, already facing prison time for taking bribes, has been hit with a federal arrest warrant after he was jailed in Sacramento on charges of committing battery against a former girlfriend. A federal magistrate... Read more
2 related stories
6d
Naked Capitalism
Worst Example Yet: Unconscionable Apollo Clause Illustrates Depth of Capture of Private Equity Investorsbelow, you’ll see that if the creditors prevail, Apollo may be able to impose s
Worst Example Yet: Unconscionable Apollo Clause Illustrates Depth of Capture of Private Equity Investors
Naked Capitalism / Posted 6 days ago
below, you’ll see that if the creditors prevail, Apollo may be able to impose some of these costs on investors like CalPERS, which is doubly exposed, having invested in the Apollo and TPG funds that acquired Caesars. Mind you, this is the... Read more
6d
Naked Capitalism
Our Bloomberg Story: Don't Let Private Equity Dupe Californiawould be called embezzlement, California Treasurer John Chiang, who also sits o
Our Bloomberg Story: Don't Let Private Equity Dupe California
Naked Capitalism / Posted 6 days ago
would be called embezzlement, California Treasurer John Chiang, who also sits on the boards of mega public pension funds CalPERS and CalSTRS, proposed path-breaking private equity legislation to combat this misconduct. Getting a full accounting... Read more
7d
The Sacramento Bee
CalPERS chief Buenrostro jailed in Sacramento on battery chargesThe former chief executive of CalPERS, already facing a prison term in the pens
CalPERS chief Buenrostro jailed in Sacramento on battery charges
The Sacramento Bee / Posted 7 days ago
The former chief executive of CalPERS, already facing a prison term in the pension fund’s corruption scandal, was arrested in Sacramento over the weekend on battery charges in a case connected to a former girlfriend. Fred Buenrostro, due to be... Read more
7d
TheStreet.com
Mayo's Comerica rant puts critical focus on Soviet-Era board membersmany board members simply hang on to the lucrative part-time gig. The Californ
Mayo's Comerica rant puts critical focus on Soviet-Era board members
TheStreet.com / Posted 7 days ago
many board members simply hang on to the lucrative part-time gig. The California Public Employees' Retirement System, or CalPERS, the largest state pension fund at $297 billion, adopted a provision in March calling for companies to evaluate... Read more
7d
Desert Dispatch
Pension contribution agreement to save Barstow $27,0002010, in exchange for an off-schedule premium of 6 percent."This change in bene
Pension contribution agreement to save Barstow $27,000
Desert Dispatch / Posted 7 days ago
2010, in exchange for an off-schedule premium of 6 percent."This change in benefit level impacts the EPMC stipulated in our CalPERS (California Public Employees' Retirement System) contract by changing the amount that the city should report to the... Read more
7d
The Daily Californian
Berkeley Police Department's budget to increase in 2016, 2017 fiscal yearsthe costs for employee benefits and that retirement costs are set by the Califo
Berkeley Police Department's budget to increase in 2016, 2017 fiscal years
The Daily Californian / Posted 7 days ago
the costs for employee benefits and that retirement costs are set by the California Public Employees’ Retirement System, or CalPERS. “We can try to keep these costs at a modest increase but they do increase every year based on the operating costs... Read more
8d
Business Insider
Investors are fleeing hedge funds in drovesits investments totaling $4 billion in 24 hedge funds and six funds-of-funds; t
Investors are fleeing hedge funds in droves
Business Insider / Posted 8 days ago
its investments totaling $4 billion in 24 hedge funds and six funds-of-funds; they were too complicated and too expensive. Calpers interim CIO Ted Eliopoulos said at the time that, “at the end of the day, when judged against their complexity, cost... Read more
4 related stories
9d
WA Today
Ultimate Software CEO Scott Scherr's huge pay easier to swallow with 1000pc stock gainhe worth it? It's a thorny issue that's dogged the company for years, dividing
Ultimate Software CEO Scott Scherr's huge pay easier to swallow with 1000pc stock gain
WA Today / Posted 9 days ago
he worth it? It's a thorny issue that's dogged the company for years, dividing even longtime investors like Fidelity and Calpers. And in the post-crisis era, few areas have come under as much public scrutiny. Support for Ultimate's pay practices... Read more
4 related stories
9d
The Age
Ultimate Software CEO Scott Scherr's huge pay easier to swallow with 1000pc stock gainhe worth it? It's a thorny issue that's dogged the company for years, dividing
Ultimate Software CEO Scott Scherr's huge pay easier to swallow with 1000pc stock gain
The Age / Posted 9 days ago
he worth it? It's a thorny issue that's dogged the company for years, dividing even longtime investors like Fidelity and Calpers. And in the post-crisis era, few areas have come under as much public scrutiny. Support for Ultimate's pay practices... Read more
4 related stories
9d
The Mercury News
What's California's prescription for rising drug costs?government defines as costing $600 or more a month, are raising concern among h
What's California's prescription for rising drug costs?
The Mercury News / Posted 9 days ago
government defines as costing $600 or more a month, are raising concern among health insurers and state agencies. In CalPERS, for instance, specialty drugs are taking up a larger share of total drug expenditures, despite the fact that they... Read more
9d
Canberra Times
Ultimate Software CEO Scott Scherr's huge pay easier to swallow with 1000pc stock gainhe worth it? It's a thorny issue that's dogged the company for years, dividing
Ultimate Software CEO Scott Scherr's huge pay easier to swallow with 1000pc stock gain
Canberra Times / Posted 9 days ago
he worth it? It's a thorny issue that's dogged the company for years, dividing even longtime investors like Fidelity and Calpers. And in the post-crisis era, few areas have come under as much public scrutiny. Support for Ultimate's pay practices... Read more
4 related stories
9d
Brisbane Times
Ultimate Software CEO Scott Scherr's huge pay easier to swallow with 1000pc stock gainhe worth it? It's a thorny issue that's dogged the company for years, dividing
Ultimate Software CEO Scott Scherr's huge pay easier to swallow with 1000pc stock gain
Brisbane Times / Posted 9 days ago
he worth it? It's a thorny issue that's dogged the company for years, dividing even longtime investors like Fidelity and Calpers. And in the post-crisis era, few areas have come under as much public scrutiny. Support for Ultimate's pay practices... Read more
4 related stories
9d
Sydney Morning Herald
Ultimate Software CEO Scott Scherr's huge pay easier to swallow with 1000pc stock gainhe worth it? It's a thorny issue that's dogged the company for years, dividing
Ultimate Software CEO Scott Scherr's huge pay easier to swallow with 1000pc stock gain
Sydney Morning Herald / Posted 9 days ago
he worth it? It's a thorny issue that's dogged the company for years, dividing even longtime investors like Fidelity and Calpers. And in the post-crisis era, few areas have come under as much public scrutiny. Support for Ultimate's pay practices... Read more
4 related stories
9d
Fortune
Hedge Fund Outflows Will Reach At Least $25 Billion This Yearthe closest thing the country has to sovereign wealth funds, such as the Califo
Hedge Fund Outflows Will Reach At Least $25 Billion This Year
Fortune / Posted 9 days ago
the closest thing the country has to sovereign wealth funds, such as the California Public Employees’ Retirement System (CalPERS) and the New York City Employee’s Retirement Systems, have also decided to liquidate their hedge fund positions over... Read more
4 related stories
10d
Naked Capitalism
Investors Dump Hedge Funds Due to Lousy Performance, High Feesfrom investors on the lousy connection between fees and performance. We flagged
Investors Dump Hedge Funds Due to Lousy Performance, High Fees
Naked Capitalism / Posted 10 days ago
from investors on the lousy connection between fees and performance. We flagged this issue in our very first post in 2006. CalPERS admitted back then that hedge funds were not delivering any performance premium, despite the lavish fees. The giant... Read more
4 related stories
11d
Orlando Sentinel
VW sued for $3.7 billion in Germany over diesel scandalfrom 14 countries, including the U.S., Australia, Germany, Canada, the Netherla
VW sued for $3.7 billion in Germany over diesel scandal
Orlando Sentinel / Posted 11 days ago
from 14 countries, including the U.S., Australia, Germany, Canada, the Netherlands, and the U.K. Among the plaintiffs is CalPERS, the giant pension fund for government employees in California. Volkswagen had no immediate comment on the suit, but... Read more
11d
Leominster Champion
Curbing carbon emissions could impact investments | April 22, 2016have announced their plans to divest from fossil fuels, most notably the countr
Curbing carbon emissions could impact investments | April 22, 2016
Leominster Champion / Posted 11 days ago
have announced their plans to divest from fossil fuels, most notably the country of Norway, the California Pension System (CalPERS), Stanford University and the Rockefeller Foundation. (For a complete list, visit www.gofossilfree.org.) To... Read more
21 related stories
11d
Naked Capitalism
Boston "T" FOIA Fight v. Boston Globe Over $25 Million Loss-Making Hedge Fund Investmenta Boston Globe fight with the MBTA pension fund as a bigger-stakes version of s
Boston "T" FOIA Fight v. Boston Globe Over $25 Million Loss-Making Hedge Fund Investment
Naked Capitalism / Posted 11 days ago
a Boston Globe fight with the MBTA pension fund as a bigger-stakes version of some of the arm-wrestling we’ve done with CalPERS. The lesson here, is that defending the incumbents in the organization is depicted as being the same as advancing its... Read more
11d
Investopedia
Alternative Investments: How The Game Has Changed for Retail Investorshad 10.1% of its assets in private equity investments. Another fund, the Califo
Alternative Investments: How The Game Has Changed for Retail Investors
Investopedia / Posted 11 days ago
had 10.1% of its assets in private equity investments. Another fund, the California Public Employees' Retirement System (CalPERS), had approximately 9% of its portfolio invested in private equity. Pension funds are also affected by the higher... Read more
11d
The Sacramento Bee
CalPERS puts off decision on tobacco reinvestmentIt turns out CalPERS isn’t quite ready to take up the tobacco habit after all.
CalPERS puts off decision on tobacco reinvestment
The Sacramento Bee / Posted 11 days ago
It turns out CalPERS isn’t quite ready to take up the tobacco habit after all. The big California pension fund Wednesday unexpectedly postponed a plan, adopted two days earlier, to launch an extensive study of whether it should reinvest in tobacco... Read more
10 related stories
11d
The Sacramento Bee
CalPERS sets higher pension contribution ratesCalPERS approved another round of rate increases Thursday, requiring higher con
CalPERS sets higher pension contribution rates
The Sacramento Bee / Posted 11 days ago
CalPERS approved another round of rate increases Thursday, requiring higher contributions from state agencies and school districts for the 2016-17 fiscal year. The state’s contribution will increase by an estimated $602 million, to $5.4 billion a... Read more
11d
FOX40 Sacramento
CalPERS Board Backs Off Tobacco Divestment Studyrequested a two-year study to help decide whether its obligation to maximize re
CalPERS Board Backs Off Tobacco Divestment Study
FOX40 Sacramento / Posted 11 days ago
requested a two-year study to help decide whether its obligation to maximize returns requires repurchasing tobacco stocks. CalPERS spokeswoman Rosanna Westmoreland says the chairman of the investment committee agreed Wednesday to reconsider the... Read more
10 related stories
11d
MyMotherLode.com
California pension board backs off tobacco divestment studyrequested a two-year study to help decide whether its obligation to maximize re
California pension board backs off tobacco divestment study
MyMotherLode.com / Posted 11 days ago
requested a two-year study to help decide whether its obligation to maximize returns requires repurchasing tobacco stocks. CalPERS spokeswoman Rosanna Westmoreland says the chairman of the investment committee agreed Wednesday to reconsider the... Read more
10 related stories
11d
KHSL Chico-Redding
California pension board backs off tobacco divestment studyrequested a two-year study to help decide whether its obligation to maximize re
California pension board backs off tobacco divestment study
KHSL Chico-Redding / Posted 11 days ago
requested a two-year study to help decide whether its obligation to maximize returns requires repurchasing tobacco stocks. CalPERS spokeswoman Rosanna Westmoreland says the chairman of the investment committee agreed Wednesday to reconsider the... Read more
10 related stories
13d
Newsmax
CalPERS to Study Possible Reinvestment in TobaccoU.S. pension fund has caught the attention of health groups, industry sharehold
CalPERS to Study Possible Reinvestment in Tobacco
Newsmax / Posted 13 days ago
U.S. pension fund has caught the attention of health groups, industry shareholders, institutional investors and many of CalPERS' beneficiaries across California. Tobacco is the leading preventable cause of death in the United States, according... Read more
10 related stories
13d
iol.co.za
Rockefellers, ExxonMobil in climate warof climate change on its business, a policy agreed at the climate summit in Par
Rockefellers, ExxonMobil in climate war
iol.co.za / Posted 13 days ago
of climate change on its business, a policy agreed at the climate summit in Paris last year. A dozen shareholders, including the huge California state pension fund CalPERS, French bank BNP Paribas and insurer AXA, are backing approval of the measu... Read more
3 related stories
13d
Fortune
After 16 Years Off, CalPERS Might Take Up Smoking AgainU.S. pension fund has caught the attention of health groups, industry sharehold
After 16 Years Off, CalPERS Might Take Up Smoking Again
Fortune / Posted 13 days ago
U.S. pension fund has caught the attention of health groups, industry shareholders, institutional investors and many of CalPERS’ beneficiaries across California. Tobacco is the leading preventable cause of death in the United States, according... Read more
10 related stories
13d
The Sacramento Bee
CalPERS reopens door to tobacco industry investmentsCalPERS said Monday it would consider reinvesting in the tobacco industry, sett
CalPERS reopens door to tobacco industry investments
The Sacramento Bee / Posted 13 days ago
CalPERS said Monday it would consider reinvesting in the tobacco industry, setting in motion a process that could take up to 24 months before any deals are made. After months of discussion, and a study by a consulting firm showing that the... Read more
10 related stories
13d
The Youngstown Vindicator
Calif. pension system reconsiders tobacco divestmentnarrowly rejected a proposal to end the discussion now and continue the current
Calif. pension system reconsiders tobacco divestment
The Youngstown Vindicator / Posted 13 days ago
narrowly rejected a proposal to end the discussion now and continue the current tobacco policy. Financial advisers found CalPERS has lost up to $3 billion since deciding in 2000 to sell off tobacco stocks. Board members who want to continue the... Read more
10 related stories
13d
Orange County Register
California pension fund won't drop tobacco divestment talksnarrowly rejected a proposal to end the discussion now and continue the current
California pension fund won't drop tobacco divestment talks
Orange County Register / Posted 13 days ago
narrowly rejected a proposal to end the discussion now and continue the current tobacco policy. Financial advisers found CalPERS has lost up to $3 billion since deciding in 2000 to sell off tobacco stocks. Board members who want to continue the... Read more
10 related stories
13d
Salon.com
California pension fund won’t drop tobacco divestment talksnarrowly rejected a proposal to end the discussion now and continue the current
California pension fund won’t drop tobacco divestment talks
Salon.com / Posted 13 days ago
narrowly rejected a proposal to end the discussion now and continue the current tobacco policy. Financial advisers found CalPERS has lost up to $3 billion since deciding in 2000 to sell off tobacco stocks. Board members who want to continue the... Read more
10 related stories
13d
KTVN Reno
California pension fund won't drop tobacco divestment talksnarrowly rejected a proposal to end the discussion now and continue the current
California pension fund won't drop tobacco divestment talks
KTVN Reno / Posted 13 days ago
narrowly rejected a proposal to end the discussion now and continue the current tobacco policy. Financial advisers found CalPERS has lost up to $3 billion since deciding in 2000 to sell off tobacco stocks. Board members who want to continue the... Read more
10 related stories
14d
San Antonio Express-News
It’s a Crucial Year to Address Climate Change in Our Portfoliosbeen targeted with shareholder proposals. The pressure is rising, too. The Cal
It’s a Crucial Year to Address Climate Change in Our Portfolios
San Antonio Express-News / Posted 14 days ago
been targeted with shareholder proposals. The pressure is rising, too. The California Public Employees Retirement System (CalPERS), the largest pension fund in the U.S. representing $289 billion, has just announced a campaign through which it will... Read more
14d
Raw Story
Rockefellers secretly met with environmentalists amid battle with ExxonMobilof climate change on its business, a policy agreed at the climate summit in Par
Rockefellers secretly met with environmentalists amid battle with ExxonMobil
Raw Story / Posted 14 days ago
of climate change on its business, a policy agreed at the climate summit in Paris last year. A dozen shareholders, including the huge California state pension fund CalPERS, French bank BNP Paribas and insurer AXA, are backing approval of the measu... Read more
3 related stories
14d
PhysOrg
ExxonMobil, Rockefellers face off in climate battleof climate change on its business, a policy agreed at the climate summit in Par
ExxonMobil, Rockefellers face off in climate battle
PhysOrg / Posted 14 days ago
of climate change on its business, a policy agreed at the climate summit in Paris last year.A dozen shareholders, including the huge California state pension fund CalPERS, French bank BNP Paribas and insurer AXA, are backing approval of the mea... Read more
3 related stories
15d
Crain's New York Business
Silver lobbyist lover | Pension ditches hedge fund | Lincoln Center head retiresyears of paying fees for subpar performance. The city, which had $1.7 billion w
Silver lobbyist lover | Pension ditches hedge fund | Lincoln Center head retires
Crain's New York Business / Posted 15 days ago
years of paying fees for subpar performance. The city, which had $1.7 billion worth of investments in hedge funds, follows CalPERS’ decision in 2014 to unload its $4 billion hedge fund portfolio.Javits revamp on track The state issued a request... Read more
16d
Orange County Register
Finding money for big infrastructure projectsinfrastructure. They are doing this because long-lived revenue-producing infras
Finding money for big infrastructure projects
Orange County Register / Posted 16 days ago
infrastructure. They are doing this because long-lived revenue-producing infrastructure is a good long-term investment. CalPERS has invested in privatized London Heathrow Airport, while CalSTRS was part of a consortium of public pension funds... Read more
17d
The Record Searchlight
5 California Things to Know for Todayuses state of the city address to push $120 billion proposal to raise taxes to
5 California Things to Know for Today
The Record Searchlight / Posted 17 days ago
uses state of the city address to push $120 billion proposal to raise taxes to expand rail and highway development. 5. CALPERS-TOBACCO Anti-smoking groups pressure public pension system to drop plans to consider re-investing in tobacco stocks... Read more
17d
Naked Capitalism
How CalPERS Was Taken By Private Equity Firm Silver Lake and Tried to Hide That (A Tale of Two Spreadsheets)In January 2008, CalPERS made what would seem to be a no-lose investment: the p
How CalPERS Was Taken By Private Equity Firm Silver Lake and Tried to Hide That (A Tale of Two Spreadsheets)
Naked Capitalism / Posted 17 days ago
In January 2008, CalPERS made what would seem to be a no-lose investment: the purchase of a 9.9% equity interest in Silver Lake Technology Management, which serves as the fund manager, or colloquially, the general partner, for various Silver Lake... Read more
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