CalPERS and PERSwatch.net
This is a placeholder for some archived material on CalPERS. I am finally taking down my PERSwatch site and will maintain what remains of value on this site as time allows.
For several years, using the internet site PERSWatch.net, James McRitchie worked together with other CalPERS members to make CalPERS responsive to its members. We worked to enact Article 16 of the Constitution, making CalPERS independent from politicians. We insisted the Board release minutes from closed door investment sessions. How else could we hold them accountable for their votes? We exposed wasteful spending on $750 coat racks for CalPERS cubicles and the common practice of many Board members of accepting gifts of fine dining and entertainment from contractors.
We pointed out that CalPERS kept reducing the State’s contribution (8 times in 11 years) but did little to increase our benefits; in fact they were eroding. McRitchie ran for the Board several times and ran ads in Capitol Weekly reminding the Board that, according to the Constitution, their primary duty is to members, not employers. Toward the end of 1998, we finally got the Board’s attention and they addressed “equity” issues with SB 400, which raised our retirement substantially through an imperfect vehicle with plenty of flaws.
In addition, we worked to reform the election process. Beginning in 2002, CalPERS began holding a runoff vote if no candidate wins a majority. There will be no more directors elected by 5.5% of the vote. That rule was enacted because board members first voted to prohibit ballot statements which include “candidates’ opinion or positions on issues of general concern to the system’s membership.” We fought that move by contacting members, unions and the Sacramento Bee, which ran an editorial CalPERS muzzles critics: Ballot rules protect board, keep others in the dark. Then we won real reforms. We are still working to avoid the $1 million cost of runoffs by getting CalPERS to use an instant runoff (IRV) system for elections.
McRitchie’s work in government, business, non-profits, cooperatives and universities led him to understand that accountability isn’t something easily imposed from the outside; it must be built into the governance structures of our organizations themselves. Not only has he worked to transform the governance structures of CalPERS, he’s also done the same with corporations. (see corpgov.net)
CalPERS has tremendous transformative potential in creating a sustainable economy by seeking triple bottomline returns – excellent financial returns, as well as social and environmental benefits. Research demonstrates that companies with good environmental practices, diverse boards, worker ownership, employee participation in decision-making and democratic corporate governance earn substantially better returns. CalPERS should be encouraging all of the corporations it invests in to have these characteristics and they should use an enhanced indexing strategy to invest more heavily in such companies while reducing investments in companies with poor practices.
If you have ideas on what the CalPERS Board should be doing for members and beneficiaries, please call send me an e-mail at jm@corpgov.net. If we can identify just one or two members at each department, board, office, campus, union or association chapter interested enough in the issues to spend just a few minutes each month, we can accomplish a great deal.
CalPERS Legal Resources from PERSwatch.net

- California Assembly
- California Constitution
- California Code of Regulations
- California Senate
- California Statutes (searchable)
- CalPERS Legislation, Regulations & Statutes
- Legislative Counsel
- Petition of 7/24/06 re Uncodified CalPERS Election Regulations
- Connell vs CalPERS
- Westly vs CalPERS 105 Cal. App. 4th 1095; 130 Cal. Rptr. 2d 149; 2003 Cal. App.
- 2007 OAL Determination No. 1 in which the Office of Administrative Law finds the CalPERS Notice of Election contains underground regulations.
- 1999 OAL Determination No. 18 in which Office of Administrative Law finds three CalPERS Board resolutions are “regulations” which must be adopted in accordance with the APA in order to be valid. 1999_OAL_Determination_No._18 (archived version).
- Legislative Counsel Opinion regarding use of State property during CalPERS Campaigns
CalPERS Stakeholder Organizations Representing Individuals
- American Association of Retired Person (AARP)
- American Federation of State, County and Municipal Employees (AFSCME)
- Asian/Pacific State Employees Association (APSEA)
- Association of California State Supervisors (ACSS)
- California Alliance for Retired Americans (CARA)
- California Association of Professional Scientists (CAPS)
- California Association of Highway Patrolmen (CAHP)
- California Association of Psychiatric Technicians (CAPT)
- California Attorneys, Administrative Law Judges and Hearing (CASE)
- California Correctional Peace Officers Association (CCPOA)
- CDF Firefighters
- California Faculty Association (CFA)
- California School Employees Association (CSEA)
- California State Park Peace Officers Association (SPPOAC)
- California State Retirees (CSR)
- California State University Emeritus and Retired Faculty Association (CSU-ERFA)
- California State University Employees Union (CSUEU)
- California Statewide Law Enforcement Association (CSLEA)
- Capital Stewardship Program – AFL-CIO
- International Union of Operating Engineers (IUOE)
- Paywatch (AFL-CIO)
- Professional Engineers in California Government (PECG)
- Retired Public Employees Association of California (RPEA)
- Service Employees International Union (SEIU), Local 1000
- Union of American Physicians and Dentists (UAPD)
Links of Interest to CalPERS Members
Links to other sites of interest to CalPERS members follow. Suggest a link by e-mailing jm@perswatch.net.
~Benefits ~California ~Investments ~Individual Investors~Mutual Funds ~News ~Pension Advocates ~Pension Funds~Retirement Research ~United States Government
- American Benefits Council
- Assisted Living State Regulatory Review
- Benefits Checkup
- Benefits & Compensation Solutions
- Benefits-L: Rich ard Hannah
- Compensation and Benefits, open directory
- CompensationStandards.com
- ERI Economic Research Institute – Salary Survey Data
- Employee Benefits, Compensation and Pension Law
- Employee Benefit Research Institute
- International Foundation of Employee Benefit Plans
- Retiree Health Care: A Growing Cost For Government (Legislative Analyst’s Office)
- Right to Know: Search your HMO’s covered drugs and learn how to choose a health plan.
- Social Security Administration ~ Calculator
- State retirees deserve pre-funding for health care by Barbara LaPlante.
- California Association of Public Retirement Systems
- California Code of Regulations
- Calpensions.com
- CalPERS Board of Administration
- California State Teachers’ Retirement System
- Leginfo
- Los Angeles Pension Trustees
- State Association of County Retirement Systems
- CalPERS raises its profile as watchdog: Giant pension fund sets up office to handle corporate-governance issues
- Corporate Governance
- Council of Institutional Investors
- Ending The Wall Street Walk: Why Corporate Governance Now?
- Fiduciary Responsibilities For Proxy
- American Association of Individual Investors
- CorpGov.net
- Informed Investors Forum
- Investor Protection Trust
- Investors’ Rights Association of America
- Motley Fool
- The Online Investor
- Proxy Democracy
- About Mutual Funds
- Brill’s Mutual Fund’s Interactive
- BusinessWeek Mutual Fund Scoreboard
- CNNMoney Mutual Funds
- Fund Democracy, by former SEC attorney, Mercer Bullard
- Fund Industry Discussion Forum
- Independent Directors Council
- Investment Company Institute
- Links to Mutual Fund Related Websites
- Management Practice Inc., Mutual Fund Governance and Trustee Compensation
- MarketWatch, Mutual Funds/ETFs
- Morningstar
- Mutual Fund Investor’s Center
- Mutual Fund Market News
- Mutual Fund Observer and Discussion Board
- Proxy Democracy – rates funds and provides proxy advice to the masses
- Calpensions.com
- CNNMoney.com: Retirement
- Retirement News
- State Worker Blog (Jon Ortiz, Sacramento Bee)
- topix.net Retirement News
- Yahoo! Finance Retirement News Archive
- American Association of Retired Persons
- Association of BellTel RetireesInstitutional Links and Pension Funds
- National Conference on Public Employee Retirement Systems
- National Retiree Organization
- Pension Research Council
- Pension Rights Center
- California State Teachers’ Retirement SystemEmployees Retirement System of Texas (ERS)
- Government Pension Fund (GPF), Royal Thai Government (RTG)
- Florida State Board of Administration
- Insight Investment see especially Engagement and voting
- Los Angeles City Employees’ Retirement System (LACERS)
- New York State Teacher’s Retirement System
- Ohio Public Employees Retirement System
- Ontario Municipal Employees Retirement System (OMERS)
- State Association of Retirement Systems (SACRS) California funds
- State of Wisconsin Investment Board
- TIAA CREF
- Boettner Center for Pensions and Retirement Research (Wharton)
- Center for Retirement Research (Boston College)
- NBER Retirement Research Center
- Retirement Research Center (University of Michigan)
- Retirement Research Foundation
- All Government Agencies
- Bureau of Labor Statistics
- Centers for Medicare and Medicaid Services
- Internal Revenue Service
- Medicare Assistance for Seniors
- Medicare/Medicaid Program Manuals
- Securities and Exchange Commission
- SEC – Center for Complaints and Enforcement Tips
- SEC – Investor Advisory Committee
- SEC – Office of Investor Education and Advocacy
- SEC – Proxy Matters
- Social Security Information
- THOMAS; Legislative information