CalPERS has $900 million to $1.1 billion invested in publicly traded Russian companies, real estate, and private equity. CalSTRS’ held almost $32 million in Russian debt and $1.5 million in Russian rubles as of June 30.
The massive investment gain will actually trigger higher contributions for many government workers.
Cities and counties can no longer exclude certain employees from CalPERS pensions under a new law signed by Governor Gavin Newsom.
The California Fair Political Practices Commission has announced an investigation into former CalPERS Chief Investment Office Yu Ben Meng.
Meng held stock in a private equity fund at the same time he approved a $1 billion investment into the company.
In a sudden news release Wednesday evening, CalPERS announced the departure of Chief Investment Officer Yu Ben Meng. He was hired less than two years ago.
The pension fund will borrow billions of dollars.
Local governments and school districts will have some tough decisions to make.
The California Public Employment Retirees System has seen its biggest payout to date, and the recipient is a former CalPERS employee.
In its first ever assessment of climate change’s potential impacts on pension risk, the California Public Employees Retirement System has found that 20% of its investments are in sectors vulnerable