CalPERS

Latest stories

1d
Petluma360.com
Petaluma facing fiscal cliffare the costs of paying for the retirement of former employees. The California
Petaluma facing fiscal cliff
Petluma360.com / Posted yesterday
are the costs of paying for the retirement of former employees. The California Public Employees’ Retirement System, or CalPERS, has long required participating employers to cover the difference when the system’s huge investment portfolio fails... Read more
4d
Marin Independent Journal
Assemblyman Levine’s return is the best choice on June 7the political clout to overcome Sacramento’s power politics, but he deserves cr
Assemblyman Levine’s return is the best choice on June 7
Marin Independent Journal / Posted 4 days ago
the political clout to overcome Sacramento’s power politics, but he deserves credit for raising issues such as reform of CalPERS, California’s largest public worker pension fund, and the Metropolitan Transportation Commission, the Bay Area’s... Read more
5d
CommonDreams.org
Exxon’s Board Recommends Rejection of all Climate Resolutions, Reinvigorating the Call to Divest from Exxon’s Deceptionfrom its deceptive and destructive ways.” Key resolutions were proposed by New
Exxon’s Board Recommends Rejection of all Climate Resolutions, Reinvigorating the Call to Divest from Exxon’s Deception
CommonDreams.org / Posted 5 days ago
from its deceptive and destructive ways.” Key resolutions were proposed by New York State’s comptroller Thomas DiNapoli, CalPERS, the Church of England, and more. Today’s results mimic the rejection of over 60 proposed shareholder resolutions to... Read more
6d
MedCity News
Critics blast Medicare drug pricing planalthough the focus has been on surgical treatments or tests, not drugs. The Ca
Critics blast Medicare drug pricing plan
MedCity News / Posted 6 days ago
although the focus has been on surgical treatments or tests, not drugs. The California Public Employees Retirement System (CalPERS), for example, capped payments for joint replacement surgeries at $30,000. Patients can elect to have their surgeries... Read more
6d
Orange County Register
O.C. cities' pension strugglesrate at which local governments would have to value the liabilities they would
O.C. cities' pension struggles
Orange County Register / Posted 6 days ago
rate at which local governments would have to value the liabilities they would need to pay off in order to leave the CalPERS system. That is far below the pension fund’s 7.5 percent assumed annual investment return rate. According to SIEPR’s... Read more
7d
Channel NewsAsia
Climate change takes center stage at Exxon, Chevron annual meetingsfrom fossil fuels. "Companies like Exxon and Chevron, they're clinging to bygo
Climate change takes center stage at Exxon, Chevron annual meetings
Channel NewsAsia / Posted 7 days ago
from fossil fuels. "Companies like Exxon and Chevron, they're clinging to bygone assumptions," said Anne Simpson of CalPERS, which holds Exxon shares worth about US$1 billion and has supported some of the measures. "This is their Kodak... Read more
19 related stories
7d
Reuters
Climate change takes center stage at Exxon, Chevron annual meetingsfrom fossil fuels. "Companies like Exxon and Chevron, they're clinging to bygo
Climate change takes center stage at Exxon, Chevron annual meetings
Reuters / Posted 7 days ago
from fossil fuels. "Companies like Exxon and Chevron, they're clinging to bygone assumptions," said Anne Simpson of CalPERS, which holds Exxon shares worth about $1 billion and has supported some of the measures. "This is their Kodak moment.... Read more
19 related stories
7d
Fortune
ExxonMobil, Chevron Face a Changing Shareholder Climatefrom fossil fuels. “Companies like Exxon and Chevron, they’re clinging to bygo
ExxonMobil, Chevron Face a Changing Shareholder Climate
Fortune / Posted 7 days ago
from fossil fuels. “Companies like Exxon and Chevron, they’re clinging to bygone assumptions,” said Anne Simpson of CalPERS, which holds Exxon shares worth about $1 billion and has supported some of the measures. “This is their Kodak moment.... Read more
19 related stories
7d
Naked Capitalism
SEC Official Defends Weak, Selective Enforcement When Agency Records Show Private Equity Firms Thumb Nose at Agencyterms, like key man language and the percentage of portfolio company fees that
SEC Official Defends Weak, Selective Enforcement When Agency Records Show Private Equity Firms Thumb Nose at Agency
Naked Capitalism / Posted 7 days ago
terms, like key man language and the percentage of portfolio company fees that will be offset against management fees. As CalPERS described long-form in its private equity workshop last fall, it is well-nigh impossible for limited partners to win... Read more
7d
PhysOrg
Shareholders vote climate test for ExxonMobil, Chevronas the oil giants have racked up profits. "We have a breakthrough this year,"
Shareholders vote climate test for ExxonMobil, Chevron
PhysOrg / Posted 7 days ago
as the oil giants have racked up profits. "We have a breakthrough this year," said Anne Simpson, director of investment at Calpers, the public employees retirement system for the state of California. "We really have to step up and make sure that... Read more
19 related stories
7d
Market Watch
Volkswagen investors push for independent probeon the heels of growing shareholder activism. Hundreds of Volkswagen sharehold
Volkswagen investors push for independent probe
Market Watch / Posted 7 days ago
on the heels of growing shareholder activism. Hundreds of Volkswagen shareholders including major investment funds such as Calpers, the California public employees retirement fund, and Norway's sovereign-wealth fund have are seeking damages for... Read more
5 related stories
7d
Bangkok Post - Thailand's English news
Shareholders vote climate test for ExxonMobil, Chevronas the oil giants have racked up profits. "We have a breakthrough this year,"
Shareholders vote climate test for ExxonMobil, Chevron
Bangkok Post - Thailand's English news / Posted 7 days ago
as the oil giants have racked up profits. "We have a breakthrough this year," said Anne Simpson, director of investment at Calpers, the public employees retirement system for the state of California. "We really have to step up and make sure that... Read more
19 related stories
7d
TheBull
Shareholders vote climate test for ExxonMobil, Chevronas the oil giants have racked up profits. "We have a breakthrough this year,"
Shareholders vote climate test for ExxonMobil, Chevron
TheBull / Posted 7 days ago
as the oil giants have racked up profits. "We have a breakthrough this year," said Anne Simpson, director of investment at Calpers, the public employees retirement system for the state of California. "We really have to step up and make sure that... Read more
19 related stories
7d
TheBull
AXA becomes first major insurer to cut tobacco tiesthe biggest in the world with shares in more than 9,000 companies, does not inv
AXA becomes first major insurer to cut tobacco ties
TheBull / Posted 7 days ago
the biggest in the world with shares in more than 9,000 companies, does not invest in tobacco. A major US pension fund, CalPERS, has shunned tobacco investments since 2001, but recent news reports said it is reconsidering this policy after... Read more
51 related stories
7d
The Sacramento Bee
Sentencing delayed for former CalPERS chief who took bribesFormer CalPERS Chief Executive Fred Buenrostro will have to wait another week t
Sentencing delayed for former CalPERS chief who took bribes
The Sacramento Bee / Posted 7 days ago
Former CalPERS Chief Executive Fred Buenrostro will have to wait another week to learn his punishment for the bribery case that rocked the big California pension fund. Buenrostro was to have been sentenced Tuesday afternoon in U.S. District Court in... Read more
8d
Bangkok Post - Thailand's English news
AXA becomes first major insurer to cut tobacco tiesthe biggest in the world with shares in more than 9,000 companies, does not inv
AXA becomes first major insurer to cut tobacco ties
Bangkok Post - Thailand's English news / Posted 8 days ago
the biggest in the world with shares in more than 9,000 companies, does not invest in tobacco. A major US pension fund, CalPERS, has shunned tobacco investments since 2001, but recent news reports said it is reconsidering this policy after... Read more
51 related stories
8d
Namibia Economist
Greens in pinstriped suitsto meet shareholders next week, it is the green brigade in ties and suits that
Greens in pinstriped suits
Namibia Economist / Posted 8 days ago
to meet shareholders next week, it is the green brigade in ties and suits that most worries them. At AGMs on May 25th CalPERS, the California state pension fund, with $294 billion of assets under management, plans to pressure ExxonMobil and... Read more
8d
International Business Times
French insurer Axa to divest its €1.78bn tobacco investments will discuss policies relating to global public health. It comes as a boost to
French insurer Axa to divest its €1.78bn tobacco investments
International Business Times / Posted 8 days ago
will discuss policies relating to global public health. It comes as a boost to anti-tobacco campaigners at a time when other big investors such as Calpers, an American public sector pension group, are considering reinvesting in tobacco co... Read more
51 related stories
8d
BBC News
Axa stubs out €1.7bn tobacco industry investmentPym, health editor Some ethical investment funds have shunned tobacco shares f
Axa stubs out €1.7bn tobacco industry investment
BBC News / Posted 8 days ago
Pym, health editor Some ethical investment funds have shunned tobacco shares for some time now. The big US pension fund Calpers decided more than a decade ago not to buy shares in tobacco companies, but Axa seems to be the first major European... Read more
51 related stories
9d
Orange County Register
O.C. Watchdog: Unfunded pension debt approaching $1 trillion?and others who denounced it as alarmist. The skeptic’s glasses that Nation don
O.C. Watchdog: Unfunded pension debt approaching $1 trillion?
Orange County Register / Posted 9 days ago
and others who denounced it as alarmist. The skeptic’s glasses that Nation dons in this new exercise belong, actually, to CalPERS. PensionTracker’s “market” calculations assume a gut-punching 3 percent return – whatCalPERS would use to calculate... Read more
12d
The Valley Chronicle
URGENT EDITORIALannual pensions of more than $100,000 after only 30 years of combined service i
URGENT EDITORIAL
The Valley Chronicle / Posted 12 days ago
annual pensions of more than $100,000 after only 30 years of combined service in any government position that is under the CalPERS pension. This largess (and corruption within CalPERS, as we know from its former CEO who will be sentenced to prison... Read more
13d
4029TV KHBS - KHOG Fort Smith - Fayetteville
The party is over for hedge funds. And the hangover could hurtof money their way. For example, in 2014 the largest U.S. pension fund, the Cal
The party is over for hedge funds. And the hangover could hurt
4029TV KHBS - KHOG Fort Smith - Fayetteville / Posted 13 days ago
of money their way. For example, in 2014 the largest U.S. pension fund, the California Public Employees' Retirement System (CalPERS) ditched hedge funds entirely. Roslyn Zhang, managing director of the massive sovereign wealth fund China Investment... Read more
13d
Naked Capitalism
CalPERS Invests in Toll Road Even Though Those Deals Consistently Lose MoneyCalPERS appears to be going from the frying pan into the fire. Having managed f
CalPERS Invests in Toll Road Even Though Those Deals Consistently Lose Money
Naked Capitalism / Posted 13 days ago
CalPERS appears to be going from the frying pan into the fire. Having managed finally to exit hedge fund investments, years later than for their own good, but still well ahead of their peers, they’ve gone for another type of high-risk investment. One... Read more
13d
KTVU 2 San Francisco
State treasurer John Chiang to run for governormove to consider re-investing in tobacco stocks that were sold off 16 years ago
State treasurer John Chiang to run for governor
KTVU 2 San Francisco / Posted 13 days ago
move to consider re-investing in tobacco stocks that were sold off 16 years ago at a loss of more than $3 billion. CalPERS moved ahead with the study despite his opposition. Chiang won public accolades in 2011 as state controller, when he... Read more
8 related stories
13d
Orange County Register
State Treasurer John Chiang will begin raising money for governor bidmove to consider re-investing in tobacco stocks that were sold off 16 years ago
State Treasurer John Chiang will begin raising money for governor bid
Orange County Register / Posted 13 days ago
move to consider re-investing in tobacco stocks that were sold off 16 years ago at a loss of more than $3 billion. CalPERS moved ahead with the study despite his opposition. Chiang won public accolades in 2011 as state controller, when he... Read more
8 related stories
13d
Business Wire
Fitch Rates Sulphur Springs USD, CA's GO Bonds 'A'; Outlook Stablecombined debt and pension liabilities relative to income are moderately low at
Fitch Rates Sulphur Springs USD, CA's GO Bonds 'A'; Outlook Stable
Business Wire / Posted 13 days ago
combined debt and pension liabilities relative to income are moderately low at 10%. The district participates in both CalPERS and CalSTRs and the Fitch adjusted ratio of assets to liabilities for its pension plans is 73.4%. The district's... Read more
13 related stories
14d
The Record Searchlight
California pension fund restarts tobacco divestment studythe committee decided to study the divestment for 12 to 24 months but backed of
California pension fund restarts tobacco divestment study
The Record Searchlight / Posted 14 days ago
the committee decided to study the divestment for 12 to 24 months but backed off two days later. 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
14d
The Sacramento Bee
CalPERS speeds up deadline to debate tobacco investmentsDespite the toxic politics, CalPERS’ leaders on Monday stuck with a plan that c
CalPERS speeds up deadline to debate tobacco investments
The Sacramento Bee / Posted 14 days ago
Despite the toxic politics, CalPERS’ leaders on Monday stuck with a plan that could lead the fund to jump back into tobacco investments. And they sped up the timeline for considering whether to put pension money into the industry again. A proposal... Read more
15d
Naked Capitalism
Hedge Fund Comeuppance: Firms Hunker Down, Start to Cut Fees as Investors Wise Up and Withdraw Moneyalchemy, are finally realizing that what they have bought is dross and have fin
Hedge Fund Comeuppance: Firms Hunker Down, Start to Cut Fees as Investors Wise Up and Withdraw Money
Naked Capitalism / Posted 15 days ago
alchemy, are finally realizing that what they have bought is dross and have finally decided enough is enough. In late 2014, CalPERS stunned the investor community by saying it was exiting hedge funds. Last month, the New York City pension system... Read more
17d
Los Angeles Times
Industry spending to beat a pharmaceutical initiative could set a new standard for 'drug money'billion a year on prescriptions, according to the Legislative Analyst’s Office.
Industry spending to beat a pharmaceutical initiative could set a new standard for 'drug money'
Los Angeles Times / Posted 17 days ago
billion a year on prescriptions, according to the Legislative Analyst’s Office. Medi-Cal, the state’s Medicaid program, and CalPERS, its health insurance and retirement program, lead the way at about $1.8 billion each. That may not sound like much... Read more
17d
The Valley Chronicle
Measure E: Opinion of The Valley Chronicle�s Publisher, Eric BuskirkWe like our police and fire and we want to keep them local, but they should not
Measure E: Opinion of The Valley Chronicle�s Publisher, Eric Buskirk
The Valley Chronicle / Posted 17 days ago
We like our police and fire and we want to keep them local, but they should not have this much control over us. Pensions: CalPERS, the pension plan covering more than a million current and former California government officials including most... Read more
17d
The Sacramento Bee
For health’s sake, CalPERS should stay out of tobacco investmentsThere are good reasons why CalPERS divested in tobacco companies years ago, and
For health’s sake, CalPERS should stay out of tobacco investments
The Sacramento Bee / Posted 17 days ago
There are good reasons why CalPERS divested in tobacco companies years ago, and those reasons haven’t changed. Reinvesting in tobacco would pit CalPERS’s portfolio against the financial and physical well-being of its members and other Californians.... Read more
18d
CNBC
Why a California pension fund is betting on an Indiana toll roadlatest investments, the toll road and the solar, fit with the most recent strat
Why a California pension fund is betting on an Indiana toll road
CNBC / Posted 18 days ago
latest investments, the toll road and the solar, fit with the most recent strategic plan," said Joe DeAnda, a CalPERS spokesman. "They are core, income generating, and long-term assets that we can hold onto." All told, the CalPERS'... Read more
19d
The Huffington Post
Pension Funds Tell Exxon To Tell The Truth About Climate Changefossil fuels. In a letter filed with the Securities and Exchange Commission, N
Pension Funds Tell Exxon To Tell The Truth About Climate Change
The Huffington Post / Posted 19 days ago
fossil fuels. In a letter filed with the Securities and Exchange Commission, New York City Comptroller Scott Stringer and CalPERs Investment Director Anne Simpson said, “We believe investors would benefit from an assessment of Exxon Mobil’s oil... Read more
19d
KESQ Palm Springs
Is the hedge fund party over?it does seem likely that the 20-year hedge-fund party may finally be over. Ame
Is the hedge fund party over?
KESQ Palm Springs / Posted 19 days ago
it does seem likely that the 20-year hedge-fund party may finally be over. America's largest institutional investor, CalPERS, has cashed in most of its $4 billion of hedge fund investments. Last month, NYCERS, the large New York City pension... Read more
19d
Crain's New York Business
State comptroller looks to ease off hedge fundscity's public pension fund, NYCERS, voted to get out of hedge funds last month.
State comptroller looks to ease off hedge funds
Crain's New York Business / Posted 19 days ago
city's public pension fund, NYCERS, voted to get out of hedge funds last month. California's mammoth and trendsetting CALPERS ditched them in 2014. DiNapoli said he had been influenced "certainly because of seeing some of the actions that... Read more
2 related stories
20d
Newsmax
Public Pensions Stick With Hedge Funds Despite Frustrationsbusiness, said pensions will continue to look to hedge funds to help them achie
Public Pensions Stick With Hedge Funds Despite Frustrations
Newsmax / Posted 20 days ago
business, said pensions will continue to look to hedge funds to help them achieve their financial goals. "These are very individual decisions," McCombe said of the CalPERS and NYCERS pull outs. "This is not a systemic move away from hedge... Read more
6 related stories
20d
Reuters
Public pensions stick with hedge funds despite frustrationswill continue to look to hedge funds to help them achieve their financial goals
Public pensions stick with hedge funds despite frustrations
Reuters / Posted 20 days ago
will continue to look to hedge funds to help them achieve their financial goals. "These are very individual decisions," McCombe said of the CalPERS and NYCERS pull outs. "This is not a systemic move away from hedge funds." (Editing by Bernard... Read more
6 related stories
22d
Naked Capitalism
CalPERS' Fiduciary Counsel Robert Klausner Calls CalPERS' Divestiture of Tobacco Stocks a Violation of Fiduciary DutyCalPERS’ fiduciary counsel, Robert Klausner, told the Vermont Pension Investmen
CalPERS' Fiduciary Counsel Robert Klausner Calls CalPERS' Divestiture of Tobacco Stocks a Violation of Fiduciary Duty
Naked Capitalism / Posted 22 days ago
CalPERS’ fiduciary counsel, Robert Klausner, told the Vermont Pension Investment Committee (“VPIC”) that divestiture was not consistent with its fiduciary duty. Moreover, he cited CalPERS’ experience with its divestiture of tobacco stock a cautionary... Read more
24d
Business Insider
Here's what the future of hedge funds looks likethe end of the hedge fund industry when pension fund managers make comments abo
Here's what the future of hedge funds looks like
Business Insider / Posted 24 days ago
the end of the hedge fund industry when pension fund managers make comments about leaving the industry for good (something CalPERS did in recent years). What most fail to realize is that most pensions have a very tiny allocation to hedge funds in... Read more
24d
Philly.com
Area public pension plans continue to miss targetson what you look at. Measured on the city's July 1 fiscal years, Philadelphia o
Area public pension plans continue to miss targets
Philly.com / Posted 24 days ago
on what you look at. Measured on the city's July 1 fiscal years, Philadelphia outperformed its long-term target, PSERS and CalPERS, the giant California pension system, over the last three- and five-year periods. Montgomery County fired its mix of... Read more
25d
FOX Business
Cvent Posts Solid Growth as Shareholders Await Private-Equity Buyoutsectors as well as a top global bank. New mid-market event management customers
Cvent Posts Solid Growth as Shareholders Await Private-Equity Buyout
FOX Business / Posted 25 days ago
sectors as well as a top global bank. New mid-market event management customers included California pension giant CalPERS, while several hotel companies came onboard for the hospitality cloud. Cvent continued to provide mobile app... Read more
91 related stories
25d
FOX Business
Cvent Posts Solid Growth as Shareholders Await Private-Equity Buyoutsectors as well as a top global bank. New mid-market event management customers
Cvent Posts Solid Growth as Shareholders Await Private-Equity Buyout
FOX Business / Posted 25 days ago
sectors as well as a top global bank. New mid-market event management customers included California pension giant CalPERS, while several hotel companies came onboard for the hospitality cloud. Cvent continued to provide mobile app... Read more
91 related stories
26d
CommonDreams.org
On the Day of Verizon’s Annual Shareholder Meeting, Verizon Strikers & Supporters to Hold Nationwide Protests as Shareholder Unrest Growstogether own more than 60 percent of Verizon’s total shares. Proposals, which h
On the Day of Verizon’s Annual Shareholder Meeting, Verizon Strikers & Supporters to Hold Nationwide Protests as Shareholder Unrest Grows
CommonDreams.org / Posted 26 days ago
together own more than 60 percent of Verizon’s total shares. Proposals, which have been endorsed by large investors like CalPERS and CalSTRS, include requiring that the Board Chair be an independent director and that future severance agreements... Read more
3 related stories
27d
The Sacramento Bee
CalPERS buys share of Indiana toll roadCalPERS added to its far-flung portfolio of infrastructure investments Wednesda
CalPERS buys share of Indiana toll road
The Sacramento Bee / Posted 27 days ago
CalPERS added to its far-flung portfolio of infrastructure investments Wednesday, announcing it’s buying a portion of a company that operates a major toll highway in Indiana. The California Public Employees’ Retirement System said it bought a 10... Read more
27d
Reuters
CalPERS buys 10 percent share of toll road operator in IndianaCalpers headquarters is seen in Sacramento, California, October 21, 2009. Cali
CalPERS buys 10 percent share of toll road operator in Indiana
Reuters / Posted 27 days ago
Calpers headquarters is seen in Sacramento, California, October 21, 2009. California Public Employees' Retirement System said it bought a 10 percent share of the Indiana Toll Road Concession Co LLC (ITRCC) from fund manager IFM Investors, marking... Read more
27d
Naked Capitalism
Tough Private Equity Transparency Bill in Illinois Focuses on Indefensible Contract Terms, Beats California Bill on Fee Disclosure Requirementsand oversight. The California initiative, led by California Treasurer John Chi
Tough Private Equity Transparency Bill in Illinois Focuses on Indefensible Contract Terms, Beats California Bill on Fee Disclosure Requirements
Naked Capitalism / Posted 27 days ago
and oversight. The California initiative, led by California Treasurer John Chiang, who also sits on the boards of CalPERS and CalSTRS, has been badly outclassed by a bill that was introduced via amendment yesterday in the Illinois Senate.... Read more
27d
KESQ Palm Springs
Layoffs, hiring freezes loom for Riverside Countywas under-performing, and with no sign of a return to the buoyant investment cl
Layoffs, hiring freezes loom for Riverside County
KESQ Palm Springs / Posted 27 days ago
was under-performing, and with no sign of a return to the buoyant investment climate of the early 2000s, cost pressures on CalPERS' clients, like Riverside County, will persist. ``There's nothing we can do to reduce the current pension fund... Read more
28d
Naked Capitalism
Mania in Private Equity as Investors Throw Money at Fundsto be intellectually honest, is perpetuating the “hot hand” myth. But we’ve poi
Mania in Private Equity as Investors Throw Money at Funds
Naked Capitalism / Posted 28 days ago
to be intellectually honest, is perpetuating the “hot hand” myth. But we’ve pointed out previously, in the context of CalPERS, how despite pretenses otherwise, private equity consultants are ultimately loyal to the strategy, and not their... Read more
29d
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 29 days 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
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