California Public Employees Retirement System
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Stockton bankruptcy plan approved with no pension cuts
trueStockton, Calif., won court approval of its plan to exit bankruptcy by paying bond investors pennies on the dollar while fully protecting public-worker pension benefits, in a case that has been watched by other cities in the state facing heavy retiree costs.
CalPERS strips board vice president of title, censures another member
truePriya Mathur, vice president of CalPERS' board, has been stripped of her title and other leadership positions for violating state financial reporting requirements. She remains on the board.
CalPERS sticks with PCA as private equity consultant
trueCalPERS rehired Pension Consulting Alliance as the pension fund’s private equity consultant on Monday.
CalPERS launches search for federal policy lobbyists
trueThe firms chosen would be part of a pool and would develop strategies to achieve CalPERS' desired results on federal legislation, regulations, issues, projects or events, according to an RFP posted Friday.
CalPERS' fixed-income portfolio returns 7% annually over 10 years
trueCalPERS, in its latest annual review of the fund's global fixed-income program, said the $46.9 billion pool returned 7% annually in the 10 years ended June 30, 72 basis points above its benchmark. By comparison, the Barclays U.S. Aggregate index returned 5.43% annually during the same period.
CalPERS gives OK to increase commitments to 3 managers
trueCalPERS' investment committee has cleared the way for the pension fund's private equity staff to make more investments with its three largest private equity partners, Apollo Global Management, Carlyle Group and Blackstone Group, allowing billions of dollars more to go to the private equity giants.
Panel offers differing views on governance with public technology companies
trueAn asset owner, money manager and academic faced off in a panel discussion at the Council of Institutional Investors conference in Los Angeles expressing widely different views on the degree of toughness investors should bring to bear to demand better corporate governance at technology companies ...
Impact of Stockton decision uncertain
trueIt remains to be seen whether a judge’s statement Wednesday that bankrupt Stockton, Calif., can cancel its contracts with CalPERS will have an impact on retirees and weaken vested pension rights.
CalPERS shouldn't get special treatment in bankruptcy case, judge says during hearing
trueCalPERS doesn't deserve special protection as a creditor in a municipal bankruptcy, said the judge overseeing the debt restructuring of Stockton, Calif., in a case that pits public pension fund advocates against Wall Street creditors.
Coca-Cola reduces shareholder approved executive equity plan
trueCoca-Cola Co. announced Wednesday it is backtracking somewhat from its executive equity plan approved in a shareholder vote in April that received opposition from some major pension funds, which called it excessive.
New CalPERS CIO is a well-connected insider
trueCalPERS' new chief investment officer, Theodore “Ted” Eliopoulos, is a politically savvy insider who built his reputation not from investment expertise but from knowing the power corridors of Sacramento and allying himself with a powerful real estate developer.
Portfolio choices doomed CalPERS' hedge fund program
trueCalPERS officials made ineffective portfolio construction choices for a dozen years before throwing in the towel on hedge funds, sources say.
Canada offers lessons for CalPERS, other U.S. funds
trueI was a member of a task force created in the late 1980s by the government of Ontario to recommend how the province's public-sector pension plans might be restructured for better performance.
Too complex for CalPERS
trueCalPERS' decision on Sept. 15 to close its $4 billion hedge fund program will lead to a lot of re-examination of the investment strategy by other asset owners.
CalPERS picks 16 firms for real-assets consulting pool
trueCalPERS hired 16 firms for its real-assets consulting pool to provide various services