CalPERS fund scored a 16 percent gain in 2013. Meantime, a crisis looms for teachers’ pension fund.
Settlement with Justice Dept. acknowledges bank misled investors about flawed mortgage-backed securities.
A federal grand jury has indicted a former official of California’s largest state employee retirement fund, the Department of Justice has announced. Here’s the press release: A federal grand jury in San Francisco indicted Alfred J. Villalobos, of Reno, Nevada, and Federico R. Buenrostro, Jr., aka Fred Buenrostro, of Sacramento, California, on charges of conspiracy […]
CalPERS, the California state employee retirement program, has suspended its practice of hiring salaried employees for second jobs within the agency, it has announced. The agency may process retirement applications more slowly as a result, it said in a news release on Friday. The announcement came after the Sacramento Bee published an article about the […]
Some managers at CalPERS, the California state retirement system, are working two jobs there. Is that legal? CalPERS spokespeople say the agency is doing nothing wrong, but the practice has raised eyebrows among some experts in state regulations, according to the Sacramento Bee. In a written statement, the agency says it hired some managers to […]
A.M. Splash: Oakland Mayor Rejects State of Emergency; Facebook Plans Big Announcement; Campos Wants Airport Named for Harvey Milk
Oakland not ready to declare state of emergency over crime wave (Oakland Tribune) City leaders rejected calls Monday to declare a state of emergency over a surge in violent crime they say is being driven by two warring criminal gangs. The gangs, which authorities refused to name, are responsible for about 90 percent of Oakland’s […]
On Wednesday I was in Sacramento talking to state workers and others about public employee pensions and calls for reforming the system when I stumbled upon a group of 75 or so California Public Employees’ Retirement System (CalPERS) employees in the middle of a “team-building” baseball game and picnic in Sacramento’s Land Park. It was […]