Archive | CalPERS

CalPERS Muzzles Critics

CalPERS Muzzles Critics: Michael Flaherman Runs

CalPERS muzzles critics. The following editorial appeared in the Sacramento Bee on May 25, 1999. The editorial references a “technical violation of board rules” by then Chairman William Crist. Actually, it was a clear violation of the rules, which prohibited changes to candidate statement after submission. No candidate in the history of CalPERS had ever […]

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Diversity Forum: Billy Dexter, Dorthy Leland, Susan Reid, John Bowman and Julianne Haskell

California Diversity Forum 2017: Part 2

CalPERS and CalSTRS sponsored the California Diversity Forum in Sacramento (“America’s Most Diverse City”) on Wednesday, May 12, 2017, bringing together investment and corporate executives to discuss how to better capitalize on the abilities of the diverse modern workforce. Diversity is both morally right and profitable. Narrowing the global gender gap would add $12 trillion in […]

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Human Right to Water

Human Right to Water Affirmed

After engagement with shareholders, two California-based water utilities, California Water Service Group (NYSE: CWT) and American States Water (NYSE: AWR), have adopted policies confirming a commitment to support the human right to water. Sparked by shareholder proposals filed last fall by Boston-based socially responsible investment firm NorthStar Asset Management, Inc., these two human right to water policies are the first at […]

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A Response to Yves Smith on CalPERS

Yes, The Twelve Days of CalPERS by Yves Smith at naked capitalism is very witty, but it plays into the hands of those who would like to see public pensions dismantled. I like some of the work Yves Smith has  have been reporting on CalPERS, which obviously needs not only watching but needs to be constantly reminded of its […]

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CalPERS Candidate Forum: September 16, 2014

Please attend the upcoming CalPERS Candidate Forum. Sorry, I haven’t been keeping this site up but have concentrated on Corporate Governance. However, another election cycle is coming up at CalPERS. State and local government employees will each elect a candidate. Retirees can’t vote for any of the candidates running in the current election cycle. However, […]

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Americans Support Pensions for All

A new nationwide public opinion research report finds overwhelming support for Congressional action to provide all Americans with access to a new type of privately run pension plan. The research also finds that Americans remain highly anxious about their retirement prospects (85 percent), and see pensions a way to improve their retirement readiness. Even though […]

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$4.5 Million in Bonuses at CalPERS

“Top administrators and investment managers at the California Public Employees’ Retirement System were awarded $4.5 million in bonuses, averaging 41% of their base salaries for the year that ended June 30,” according to a report in the Los Angeles Times. (CalPERS awards $4.5 million in bonuses to managers, 10/8/2011) The bonuses ranged from a high […]

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Brown Didn’t Take Easy Path on CalPERS Bills

California’s Governor Jerry Brown signed signed Assembly Bill 873, which prohibits former CalSTRS and CalPERS board members and high-level executives from lobbying their former employers for ten years.  The bill is the most stringent measure yet to get at the “placement agent” scandals that in wrote about back in 1997. In his signing message, Brown noted […]

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Retirement Security for All

Hank Kim, Executive Director and Counsel for the National Conference on Public Employee Retirement Systems (NCPERS), has unveiled a proposal for a new type of retirement plan. To those who think CalPERS and pensions for public employees should be abandoned, the proposal offers an alternative. See Retirement Security for All. The proposed Secure Choice Pension (SCP) is aimed at […]

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Bilbrey Wins CalPERS Board Seat

Michael Bilbrey is the apparent winner of a special runoff election to fill a vacancy on the 13-member CalPERS Board of Administration. According to the unofficial vote count, Bilbrey received 117,034 votes, while Richard Ross received 78,718 votes.  The result is not official until certified by the California Secretary of State’s Office. Bilbrey and Ross were […]

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Videos of CalPERS Candidate Forum Available

Videos are now available from the “CalPERS Candidates’ Forum,” moderated by the League of Women Voters of Sacramento County, on Wednesday, July 6, 2011 in the CalPERS Auditorium. Although less than 50 people showed up for the forum, I expect many more will watch them online. We will need to consider other options for the next […]

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CalPERS Candidate Forum July 6th

PERSWatch.net will sponsor a “CalPERS Candidates’ Forum,” moderated by the League of Women Voters of Sacramento County, on Wednesday, July 6, 2011 from 6:00 p.m. to 8:00 p.m. The forum will take place in the CalPERS Auditorium, Lincoln Plaza North, 400 P St., Sacramento, California. Free parking will be available under the building. Enter on […]

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CalPERS Runoff: Bilbrey & Ross — CalPERS Forum July 6

Michael Bilbrey got 46,032 preliminary count votes. Richard Ross placed second with 26,522 votes to qualify for a runoff. Donna Snodgrass and David Miller were close behind with 24,101 and 23,627 respectively. Ballots go out June 30 and are due back July 28. PERSWatch.net will hold another CalPERS Candidate Forum on July 6, from 6-8 […]

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CalPERS Candidates’ Forum

PERSWatch sponsored the “CalPERS Candidates’ Forum,” moderated by the League of Women Voters of Sacramento County, on Tuesday, April 26, 2011. The forum took place in the CalPERS Auditorium, Lincoln Plaza North, 400 P Street, Sacramento, California. Seven candidates running in the Special Election, to fill the Member-At-Large Position B vacancy, participated in the event. […]

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CalPERS Ambassador Program

If you are a retiree, hopefully, you saw the brief article on the Ambassador Program in the California State Retiree or on the CSEA Retirees Inc. website. If you aren’t a retiree, contact CalPERS at the e-mail below and ask them if you can attend as well. You may need to take some time off […]

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Organizing for Retirement Security

Disclaimer: These are my notes from the second day of a conference of mostly California pension funds. I try, but don’t guarantee accuracy. These notes are very abbreviated and do not cover several speakers. The LA Trustees Roundup keeps getting better every year. If you’re a trustee or even just a member of a public pension […]

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Cost of “Air Time” May Rise Soon

The CalPERS Board will consider lowering its investment return expectations from the current 7.75 percent to 7.5 percent.  If you are a CaPERS member and are thinking about buying “air time.” If the discount rate is changed, it will apply to all applications postmarked on or after March 17, 2011. Lowering the discount rate to 7.5% […]

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Protect Your Pension

On February 28 and March 1, learn how to protect your pension fund. The Los Angeles Trustee Network invites a frank discussion of issues. Major and minor public pension funds from around California will be represented at this free, very informative conference at the Sheraton Gateway at LAX in Los Angeles.

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Don’t Toss That Proxy! Learn From CalPERS

Resolution MB 8/09, approved at CSEA’s last General Council, sought to expand on the leadership CalPERS has shown in the area of corporate governance by exploring how CalPERS could better influence the proxy voting of its own members and in helping us to evaluate which mutual funds vote in alignment with our own values and […]

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CalPERS Election and Candidate Forum April 26

As we have during the last two CalPERS elections, PERSWatch will sponsor a candidate forum so that members and the general public can meet and ask questions of the candidates. The forum for the Member-At-Large candidates will be held on April 26, 2010 from 6:00 p.m. – 8:00 p.m. in the CalPERS auditorium at 400 P […]

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Diehr Elected: Another Candidate Forum Planned

George Diehr has been officially re-elected to the board of administration of CalPERS, as the state elected member. Diehr received 77.5% of the votes; Inderjit Kallirai received 22.4%. Only 28,373 votes were cast by state and Cal State University employees out of about 340,000 eligible voters. We tried to boost interest and voting by holding […]

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CalPERS Bonuses

The AP’s Cathy Bussewitz has done a very good job on a topic that I warned needed more attention. (AP Investigation: Calif. pension bonuses examined, 10/21/2010) CalPERS’ plunging value came as stock values tumbled around the world, the state’s economy suffered its worst decline in decades and basic state services faced severe budget cuts. Virtually […]

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Candidate Forum

Through PERSWatch.net, I had the distinct pleasure of sponsoring a second CalPERS Candidate Forum (the first was last year), thanks to co-sponsorship by the Sacramento Central Labor Council, facilitation by the League of Women Voters of Sacramento County, use of the CalSTRS Boardroom, video by CalPERS and cooperation from 2010 State Board Election candidate Inderjit […]

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At CalPERS: One Pleads the 5th, One Quits

CalPERS announced that Kurato Shimada resigned yesterday to focus on “personal matters.” “It’s with sadness that I accepted Kurato Shimada’s resignation from our Board today,” said Rob Feckner, CalPERS Board President. “We appreciate his desire to focus on personal matters and wish him well.” CalPERS will be scheduling a special election to fill his vacant […]

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2010 Board Member Election & Candidate Forum

The CalPERS Board of Administration consists of 13 members – six elected by members, three are appointed, and four are “ex officio” representatives. A State Board member election will be held this fall. The term of office will be January 16, 2011 – January 15, 2015. You are eligible to vote if you are an […]

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CalPERS

CalPERS muzzles critics

CalPERS Ballot rules protect board, keep others in the dark “Self-serving” is what one critic called the vote last week to sharply limit what candidates for the California Public Employees Retirement System board can include in their ballot statements. Certainly, “self-serving” is one word that characterizes that vote. “Anti-democratic,” “chilling” and “wrong” are among the […]

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