California Public Employees Pension Fund

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4h
Orange County Register
CalPERS' earnings flop means belt tighteningwatched in horror as my 401(k) earnings started a freefall right before I plann
CalPERS' earnings flop means belt tightening
Orange County Register / Posted 4 hours ago
watched in horror as my 401(k) earnings started a freefall right before I planned on shifting some assets into a lower-risk fund. Things corrected, but my investment mistakes are my problem. If I do something stupid, I might spend retirement in a... Read more
9 related stories
23h
Boston Globe
Mass. AG sues Volkswagen over emissions cheatingin June with 44 states — including Massachusetts — over consumer fraud issues.
Mass. AG sues Volkswagen over emissions cheating
Boston Globe / Posted 23 hours ago
in June with 44 states — including Massachusetts — over consumer fraud issues. Volkswagen is also negotiating with California over how best to repair the cars, and faces an ongoing federal criminal investigation. Volkswagen called the new... Read more
1d
The Mercury News
Borenstein: CalPERS running up record pension debt on your credit cardWhen the nation's largest pension system Monday announced its annual earnings,
Borenstein: CalPERS running up record pension debt on your credit card
The Mercury News / Posted yesterday
When the nation's largest pension system Monday announced its annual earnings, news coverage focused on the dismal 0.61 percent return for the last fiscal year. That missed the bigger picture: The paltry investment yield leaves the California Public... Read more
9 related stories
3d
Lake Tahoe News
CalPERS posts worst year since 2009By James Rufus Koren, Los Angeles Times California’s largest public pension fu
CalPERS posts worst year since 2009
Lake Tahoe News / Posted 3 days ago
By James Rufus Koren, Los Angeles Times California’s largest public pension fund made a return of less than 1 percent in its most recent fiscal year, the fund’s worst performance since 2009. The California Public Employees’ Retirement System said... Read more
3d
Marin Independent Journal
Public pension fund, taxpayers fact ‘costly’ testThe nation’s largest pension plan continues adding to state and local taxpayers
Public pension fund, taxpayers fact ‘costly’ test
Marin Independent Journal / Posted 3 days ago
The nation’s largest pension plan continues adding to state and local taxpayers’ $93 billion debt. The question now is whether the board of the California Public Employees’ Retirement System will stanch the bleeding. Or will it continue to laden our... Read more
9 related stories
3d
The Record Searchlight
California Editorial RoundupJuly 13 Redlands Daily Facts on problems with the state's pension system: The
California Editorial Roundup
The Record Searchlight / Posted 3 days ago
July 13 Redlands Daily Facts on problems with the state's pension system: The beleaguered California Public Employees' Retirement System has been plagued by exceedingly generous retirement benefits for government employees, overly optimistic... Read more
3d
KPBS San Diego
California Teacher Pension Fund Grew 1.4% Last YearCalifornia's teacher pension system says its investments earned 1.4 percent in
California Teacher Pension Fund Grew 1.4% Last Year
KPBS San Diego / Posted 3 days ago
California's teacher pension system says its investments earned 1.4 percent in the last fiscal year. The figure released Tuesday falls short of the 7.5 percent target for the California State Teachers' Retirement System. But CalSTRS officials say... Read more
4d
Market Watch
Huge teachers pension fund posts meager returnThe nation's second-largest public pension posted its slimmest returns since th
Huge teachers pension fund posts meager return
Market Watch / Posted 4 days ago
The nation's second-largest public pension posted its slimmest returns since the 2008-2009 financial crisis because of heavy losses in stocks. The California State Teachers' Retirement System, or Calstrs, earned 1.4% for the fiscal year ended June... Read more
4d
Fortune
California's Pension Crisis is Growing Worsemore names to the list of folks who aren’t exactly enjoying the current bull ma
California's Pension Crisis is Growing Worse
Fortune / Posted 4 days ago
more names to the list of folks who aren’t exactly enjoying the current bull market: the money managers at Calpers, or the California Public Employees Retirement System. Calpers announced on Monday that it returned just 0.61% during the fiscal... Read more
4d
The Mercury News
Calpers earns 0.6% as returns trail fund's targetThe California Public Employees' Retirement System, the largest U.S. public pen
Calpers earns 0.6% as returns trail fund's target
The Mercury News / Posted 4 days ago
The California Public Employees' Retirement System, the largest U.S. public pension fund, earned a return of 0.6 percent on its investments last fiscal year, trailing its long-term target as holdings in stocks and forestland lost money. The... Read more
9 related stories
4d
Naked Capitalism
CalPERS Announces Preliminary Returns of 0.6% When Target is 7.5%We posted last week on an OC Register story that anticipated, using CalPERS’ da
CalPERS Announces Preliminary Returns of 0.6% When Target is 7.5%
Naked Capitalism / Posted 4 days ago
We posted last week on an OC Register story that anticipated, using CalPERS’ daily transaction reports, that the giant pension fund would show a loss for its fiscal year ended June 30. Although we noted that the OC Register is a long-standing critic... Read more
9 related stories
5d
The Sacramento Bee
CalPERS’ unfunded liabilities grow as its investment earnings lagYou can smear lipstick on a pig, but that doesn’t change its innate porcinity.
CalPERS’ unfunded liabilities grow as its investment earnings lag
The Sacramento Bee / Posted 5 days ago
You can smear lipstick on a pig, but that doesn’t change its innate porcinity. Officials of the California Public Employees Retirement System, the nation’s largest pension trust fund, tried Monday to cast its very anemic investment earnings – well... Read more
5d
Newsmax
Calpers Earns 0.6 Percent for Worst Year Since Financial CrisisThe California Public Employees’ Retirement System, the largest U.S. public pen
Calpers Earns 0.6 Percent for Worst Year Since Financial Crisis
Newsmax / Posted 5 days ago
The California Public Employees’ Retirement System, the largest U.S. public pension fund, earned a return of 0.6 percent on its investments last fiscal year, trailing its long-term target as holdings in stocks and forestland lost money. The... Read more
9 related stories
5d
Zero Hedge
Largest US Pension Fund Suffers Worst Annual Return Since Financial Crisis Due To Heavy Stock LossesWhile we have often documented the dramatic underperformance by the hedge fund
Largest US Pension Fund Suffers Worst Annual Return Since Financial Crisis Due To Heavy Stock Losses
Zero Hedge / Posted 5 days ago
While we have often documented the dramatic underperformance by the hedge fund industry over the past decade courtesy of a centrally-planned market in which it no longer pays to "hedge", culminating with countless hedge fund closures and substantial... Read more
5d
Los Angeles Times
CalPERS posts worst year since 2009, with slim returnsCalifornia’s largest public pension fund made a return of less than 1% in its m
CalPERS posts worst year since 2009, with slim returns
Los Angeles Times / Posted 5 days ago
California’s largest public pension fund made a return of less than 1% in its most recent fiscal year, the fund’s worst performance since 2009. The California Public Employees’ Retirement System said Monday its rate of return for the year ended June... Read more
9 related stories
5d
The Record Searchlight
California pension fund posts small gain, misses targetSACRAMENTO, Calif. (AP) - The California Public Employees' Retirement System sa
California pension fund posts small gain, misses target
The Record Searchlight / Posted 5 days ago
SACRAMENTO, Calif. (AP) - The California Public Employees' Retirement System says its investment earnings were essentially flat in the last fiscal year, falling far short of the 7.5 percent target. The nation's largest public pension system on... Read more
9 related stories
5d
Lake Tahoe News
CalPERS sees flat earnings for a second yearBy Dan Walters, Sacramento Bee The California Public Employees’ Retirement Sys
CalPERS sees flat earnings for a second year
Lake Tahoe News / Posted 5 days ago
By Dan Walters, Sacramento Bee The California Public Employees’ Retirement System – the nation’s largest pension trust fund – took a beating during the Great Recession, dropping nearly $100 billion in value. However, it recovered nicely as the... Read more
7d
The Monterey County Herald
Daniel Borenstein: Bad CalPERS earnings worsen $93 billion taxpayer debtThe nation’s largest pension plan continues adding to state and local taxpayers
Daniel Borenstein: Bad CalPERS earnings worsen $93 billion taxpayer debt
The Monterey County Herald / Posted 7 days ago
The nation’s largest pension plan continues adding to state and local taxpayers’ $93 billion debt. The question now is whether the board of the California Public Employees’ Retirement System will stanch the bleeding. Or will it continue to laden our... Read more
2 related stories
7d
The Mercury News
Borenstein: More CalPERS pension debt to hit taxpayersThe nation's largest pension plan continues adding to state and local taxpayers
Borenstein: More CalPERS pension debt to hit taxpayers
The Mercury News / Posted 7 days ago
The nation's largest pension plan continues adding to state and local taxpayers' $93 billion debt. The question now is whether the board of the California Public Employees' Retirement System will stanch the bleeding. Or will it continue to laden our... Read more
2 related stories
8d
Newsmax
Calpers' New CEO Frost Sees Potential Boost From Private EquityThe new chief executive officer of the California Public Employees’ Retirement
Calpers' New CEO Frost Sees Potential Boost From Private Equity
Newsmax / Posted 8 days ago
The new chief executive officer of the California Public Employees’ Retirement System said the largest U.S. pension fund may look to add more investments in private equity and real estate to increase returns and close its unfunded liability. “When... Read more
5 related stories
8d
The Mercury News
Borenstein: Bad CalPERS earnings worsen $93 billion taxpayer debtThe nation's largest pension plan continues adding to state and local taxpayers
Borenstein: Bad CalPERS earnings worsen $93 billion taxpayer debt
The Mercury News / Posted 8 days ago
The nation's largest pension plan continues adding to state and local taxpayers' $93 billion debt. The question now is whether the board of the California Public Employees' Retirement System will stanch the bleeding. Or will it continue to laden our... Read more
2 related stories
9d
The Record Searchlight
California pension fund names new CEO Marcie FrostSACRAMENTO, Calif. (AP) - The California Public Employees' Retirement System is
California pension fund names new CEO Marcie Frost
The Record Searchlight / Posted 9 days ago
SACRAMENTO, Calif. (AP) - The California Public Employees' Retirement System is naming a new chief executive. CalPERS announced Thursday that Marcie Frost will replace former CEO Anne Stausboll beginning Oct. 3. Stausboll retired at the end of June... Read more
5 related stories
9d
Orange County Register
More bad news for CalPERSThe beleaguered California Public Employees’ Retirement System has been plagued
More bad news for CalPERS
Orange County Register / Posted 9 days ago
The beleaguered California Public Employees’ Retirement System has been plagued by exceedingly generous retirement benefits for government employees, overly optimistic actuarial assumptions and some years of poor investment performance – exacerbated... Read more
9d
The Sacramento Bee
CalPERS hires new chief executivea new chief executive Thursday, tapping the director of Washington state’s reti
CalPERS hires new chief executive
The Sacramento Bee / Posted 9 days ago
a new chief executive Thursday, tapping the director of Washington state’s retirement system to run the nation’s largest public pension fund. Marcie Frost, 51, will take over Oct. 3 for the recently retired Anne Stausboll, who guided the pension... Read more
5 related stories
9d
Naked Capitalism
Private Equity Industry Offers Intelligence-Insulting Defenses for Long-Standing Grifting Due to Refusal to Register as Broker-Dealersthe private equity industry is in defending its dubious looting, um, fee extrac
Private Equity Industry Offers Intelligence-Insulting Defenses for Long-Standing Grifting Due to Refusal to Register as Broker-Dealers
Naked Capitalism / Posted 9 days ago
the private equity industry is in defending its dubious looting, um, fee extraction practices. We will also see captured public pension funds, in this case CalSTRS, stand shoulder-to-shoulder with the private equity industry and against the... Read more
10d
Naked Capitalism
OC Register: CalPERS Expected to Show Multi-Billion Loss for Fiscal Year Ended June 30, 2016The California Public Employees Retirement System – the nation’s largest – lost
OC Register: CalPERS Expected to Show Multi-Billion Loss for Fiscal Year Ended June 30, 2016
Naked Capitalism / Posted 10 days ago
The California Public Employees Retirement System – the nation’s largest – lost about 2 percent of its market value in the fiscal year that just ended, according to unofficial numbers published last week on the CalPERS website. This came despite... Read more
11d
The Sacramento Bee
California’s big pension fund sees flat earnings for a second yearThe California Public Employees’ Retirement System – the nation’s largest pensi
California’s big pension fund sees flat earnings for a second year
The Sacramento Bee / Posted 11 days ago
The California Public Employees’ Retirement System – the nation’s largest pension trust fund – took a beating during the Great Recession, dropping nearly $100 billion in value. However, it recovered nicely as the nation emerged from recession and... Read more
11d
New York Post
Hedge funds are far from deadHedge funds are down, but far from out. The New York state pension is pumping
Hedge funds are far from dead
New York Post / Posted 11 days ago
Hedge funds are down, but far from out. The New York state pension is pumping more money into hedge funds, bucking the pressure among big-money investors to pull back on the much-maligned sector. The $178 billion New York State Common Retirement... Read more
11d
Orange County Register
Retirement liabilities remain despite state budget surplusSACRAMENTO – The California budget that Gov. Jerry Brown proposed this month ma
Retirement liabilities remain despite state budget surplus
Orange County Register / Posted 11 days ago
SACRAMENTO – The California budget that Gov. Jerry Brown proposed this month marks a shocking financial turnaround for a state that just a few years ago faced a $26 billion deficit. But even as the governor and lawmakers debate how to spend a budget... Read more
11d
Orange County Register
Watchdog: Another tough year for CalPERS as retirement fund loses billionsPublic workers are pumping more money into retirement funds. Public agencies ar
Watchdog: Another tough year for CalPERS as retirement fund loses billions
Orange County Register / Posted 11 days ago
Public workers are pumping more money into retirement funds. Public agencies are pumping more money into retirement funds. Yet the market seems distinctly unimpressed. The California Public Employees Retirement System – the nation’s largest – lost... Read more
12d
Business Wire
Fitch Rates San Francisco Bay Area Rapid Transit District, CA's Sales Tax Revs 'AA+'; Outlook StableWIRE)--Fitch Ratings assigns an 'AA+' rating to the following San Francisco Bay
Fitch Rates San Francisco Bay Area Rapid Transit District, CA's Sales Tax Revs 'AA+'; Outlook Stable
Business Wire / Posted 12 days ago
WIRE)--Fitch Ratings assigns an 'AA+' rating to the following San Francisco Bay Area Rapid Transit District, California (BART) bonds: --Approximately $84.7 million sales tax revenue bonds, 2016 refunding series A. In addition, Fitch... Read more
6 related stories
12d
Slate
How a Broke Little Island Beat the Hedge FundsCommentary about business and finance. Puerto Rico got the debt relief legisla
How a Broke Little Island Beat the Hedge Funds
Slate / Posted 12 days ago
Commentary about business and finance. Puerto Rico got the debt relief legislation it wanted while some of the most powerful forces in finance got stiffed. What happened? In 2015, the hearts of hedge... Read more
12d
Business Wire
Fitch Affirms CalPERS Credit Enhancement Program Short-Term Rating at 'F1+'Ratings has affirmed the short-term 'F1+' rating assigned to the credit enhance
Fitch Affirms CalPERS Credit Enhancement Program Short-Term Rating at 'F1+'
Business Wire / Posted 12 days ago
Ratings has affirmed the short-term 'F1+' rating assigned to the credit enhancement program (CEP) sponsored by the California Public Employees' Retirement System (CalPERS). SECURITY CalPERS' CEP provides direct and confirming letters of... Read more
13d
Elmira Star-Gazette
DIG DEEP: NY is #1 for per-pupil cost of teacher benefitscosts to a school district comes from "employer contributions" — the payments a
DIG DEEP: NY is #1 for per-pupil cost of teacher benefits
Elmira Star-Gazette / Posted 13 days ago
costs to a school district comes from "employer contributions" — the payments a district makes into the state retirement fund for teachers and administrators. To be sure, the retirement system puts a lot of money into the hands of its... Read more
13d
Elmira Star-Gazette
Watchdog: N.Y. has highest per-pupil cost in the nationcosts to a school district comes from "employer contributions" — the payments a
Watchdog: N.Y. has highest per-pupil cost in the nation
Elmira Star-Gazette / Posted 13 days ago
costs to a school district comes from "employer contributions" — the payments a district makes into the state retirement fund for teachers and administrators. To be sure, the retirement system puts a lot of money into the hands of its... Read more
14d
Naked Capitalism
Los Angeles Times: Treasurer Chiang's Private Equity "Transparency" Bill Fails to Delivercost of investing in private equity. Professor Ludovic Phalippou of Oxford has
Los Angeles Times: Treasurer Chiang's Private Equity "Transparency" Bill Fails to Deliver
Naked Capitalism / Posted 14 days ago
cost of investing in private equity. Professor Ludovic Phalippou of Oxford has estimated it at a staggering 7% per annum of funds invested; CalPERS confirmed that it viewed this estimate as reasonable by including it in a private equity workshop... Read more
15d
Los Angeles Times
CalPERS' private equity fees under the microscopeA bill that would require more disclosure from private equity firms that manage
CalPERS' private equity fees under the microscope
Los Angeles Times / Posted 15 days ago
A bill that would require more disclosure from private equity firms that manage money for California’s public pension plans has been weakened, prompting a former state investment official and early backer of the legislation to pull his... Read more
17d
Reuters
Canada's pension funds warm to federal infrastructure investmentTORONTO Canada's biggest pension funds are prepared to finance the construction
Canada's pension funds warm to federal infrastructure investment
Reuters / Posted 17 days ago
TORONTO Canada's biggest pension funds are prepared to finance the construction of major new federal government infrastructure projects, according to senior fund sources, marking a shift from their traditional strategy of avoiding development... Read more
18d
Naked Capitalism
New York Times' Gretchen Morgenson: Private Equity Transparency Bills, Including California Treasurer Chiang's AB 2833 "Hit a Wall"Last fall, California Treasurer John Chiang said he would sponsor private equit
New York Times' Gretchen Morgenson: Private Equity Transparency Bills, Including California Treasurer Chiang's AB 2833 "Hit a Wall"
Naked Capitalism / Posted 18 days ago
Last fall, California Treasurer John Chiang said he would sponsor private equity legislation that would provide investors in private equity like the giant public pension funds CalPERS and CalSTRS, on whose boards he sits, to combat the problem that,... Read more
18d
CBS News
States aim to fill pension gaps with "auto IRAs"With a push from AARP, a small but growing number of states are legislating "au
States aim to fill pension gaps with "auto IRAs"
CBS News / Posted 18 days ago
With a push from AARP, a small but growing number of states are legislating "automatic IRAs" for the employees of their smaller businesses that don't offer a pension or 401(k). Currently, an estimated 55 million Americans -- about half the workforce... Read more
20d
The Sacramento Bee
How Sacramento’s transit chief landed a pension that exceeds federal limitsSome say too richly. Wiley, who steps aside as RT general manager next month,
How Sacramento’s transit chief landed a pension that exceeds federal limits
The Sacramento Bee / Posted 20 days ago
Some say too richly. Wiley, who steps aside as RT general manager next month, is eligible to collect a $278,000 annual pension. That’s $48,000 above his current $230,000 salary. It’s also higher than the $210,000 federal pension maximum. How... Read more
21d
Orange County Register
Public employee pensions an enormous problemlater, in his State of the State address, Brown insisted that “fiscal disciplin
Public employee pensions an enormous problem
Orange County Register / Posted 21 days ago
later, in his State of the State address, Brown insisted that “fiscal discipline is not the enemy of our democracy but its fundamental predicate.” Yet here we are in the middle of 2016, and few states’ fiscal health are worse than California’s.... Read more
22d
The Champaign News-Gazette
Tom's #Mailbag, July 1, 2016director of the park district, has more details: "Noticing the disrepair of the
Tom's #Mailbag, July 1, 2016
The Champaign News-Gazette / Posted 22 days ago
director of the park district, has more details: "Noticing the disrepair of the original peacock, Champaign Park District employees Jim Gladney and Phil Dodd set out to create a new and longer-lasting sculpture to complement the arrangements made... Read more
23d
Newsmax
Public Employees Paying More Into US Pensions, Uptrend Seen ExtendingTo combat increasing employer pension costs, U.S. states enacted pension plan r
Public Employees Paying More Into US Pensions, Uptrend Seen Extending
Newsmax / Posted 23 days ago
To combat increasing employer pension costs, U.S. states enacted pension plan reforms that mainly reduced benefits for new hires and increased employee contribution rates for new hires and current workers. After nearly a decade at 5 percent, the... Read more
2 related stories
23d
Business Insurance
Public employees paying more into pensions(Reuters) — After years of steady inflows, the rate for retirement contribution
Public employees paying more into pensions
Business Insurance / Posted 23 days ago
(Reuters) — After years of steady inflows, the rate for retirement contributions by public pension employees has increased and is expected to continue rising, an effect difficult to produce but helped along by the impact of regulatory reforms,... Read more
2 related stories
24d
Reuters
Public employees paying more into U.S. pensions, uptrend seen extendingA pair of elderly couples view the ocean and waves along the beach in La Jolla,
Public employees paying more into U.S. pensions, uptrend seen extending
Reuters / Posted 24 days ago
A pair of elderly couples view the ocean and waves along the beach in La Jolla, California in this file photo dated March 8, 2012. NEW YORK After years of steady inflows, the rate for retirement contributions by public pension employees has... Read more
2 related stories
25d
The Hill
Trump threatens NAFTA withdrawal | Senate poised for crucial Puerto Rico vote | Ryan calls for UK trade deal | Senate Dems block Zika funding dealRico unable to make their own government, make their own decisions, do what the
Trump threatens NAFTA withdrawal | Senate poised for crucial Puerto Rico vote | Ryan calls for UK trade deal | Senate Dems block Zika funding deal
The Hill / Posted 25 days ago
Rico unable to make their own government, make their own decisions, do what they believe is right." SENATE DEMS BLOCK ZIKA FUNDING: Senate Democrats on Tuesday blocked a deal providing funding for the fight against the Zika virus, virtually... Read more
26d
Naked Capitalism
Private Equity Expert/Reformer Opposes California Treasurer Chiang's Now-Phony "Fee Transparency" BillAs we wrote last week, it’s become apparent that the private equity fee transpa
Private Equity Expert/Reformer Opposes California Treasurer Chiang's Now-Phony "Fee Transparency" Bill
Naked Capitalism / Posted 26 days ago
As we wrote last week, it’s become apparent that the private equity fee transparency bill that California Treasurer announced last year and launched this year was never intended to live up to its billing. From our post: AB 2833 was amended on... Read more
29d
Naked Capitalism
California Treasurer Chiang's Private Equity Transparency Three Card MonteWe held our fire on the progress of California Assembly bill AB 2833, a private
California Treasurer Chiang's Private Equity Transparency Three Card Monte
Naked Capitalism / Posted 29 days ago
We held our fire on the progress of California Assembly bill AB 2833, a private equity fee transparency bill, in the hope that its sponsor, Treasurer John Chiang, who sits on the CalPERS and CalSTRS boards, was acting in good faith. In fact, AB 2833... Read more
30d
Business Wire
Fitch Affirms Hayward, CA COPs at 'AA'; Outlook StableSAN FRANCISCO--(BUSINESS WIRE)--Fitch Ratings has affirmed the following Haywar
Fitch Affirms Hayward, CA COPs at 'AA'; Outlook Stable
Business Wire / Posted 30 days ago
SAN FRANCISCO--(BUSINESS WIRE)--Fitch Ratings has affirmed the following Hayward, California (the city) ratings: --$72.5 million certificates of participation (COPs) (Capital Projects) at 'AA'; --$21.8 million 2007 refunding COPs (Civic Center and... Read more
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