Reporter Ed Mendel covered the California Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. As one of 13 CalPERS board members, J.J. Jelincic presumably has some authority. But last June and July, he filed Public Records Act requests to force CalPERS to give him … Continue reading CalPERS Board at Odds With Maverick Member
Reporter Ed Mendel covered the California Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. Using a new data system, CalPERS last week issued its first report on fees paid private equity firms, a type of investment that created a new class of billionaires and … Continue reading In Depth: CalPERS Takes One Step to Monitor Private Equity
Reporter Ed Mendel covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. A board working on a proposal to enroll most small business employees in a state-run retirement savings plan, unless they opt out, was told last week that small technology-focused financial firms … Continue reading Private Firms Offer to Run California Retirement Plan for Small Businesses
Reporter Ed Mendel covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. Still underfunded after a $100 billion loss during the recession, CalPERS plans to slowly shift over decades to more conservative and lower-yielding investments, raising employer rates but reducing the risk of … Continue reading CalPERS Shifts Focus to Avoiding Another Big Loss
Reporter Ed Mendel covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. After the CalPERS staff gave the board a correction last week for providing misinformation about private equity fees, the board member who has been grilling staff on the issue walked out … Continue reading New CalPERS Dispute Over Private Equity Fees
Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Chris Flood of the Financial Times reports, Calpers’ support of private equity ‘propaganda’ slammed: A board member of the largest US pension fund has written a scathing letter to its chief executive, criticising her for … Continue reading CalPERS Grilled on Private Equity?
A long-sought CalSTRS rate increase, more than doubling the bite from school districts, is the reason given last week for a proposal to increase the lump-sum death benefit, unchanged in the last 13 years. The CalSTRS board, unlike most California public pensions, lacks the power to raise employer rates, needing legislation instead. But the board … Continue reading CalSTRS Rate Hike Brings Plan for Benefit Increase
Reporter Ed Mendel covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. CalPERS took another step last week toward a gradual long-term rate hike, a move to lower the risk of big investment losses as the maturing pension system enters a new era. … Continue reading California Gov. Brown’s Aides Urge CalPERS to Speed Up Rate Hike
It may surprise cities that did not switch new hires to 401(k)-style plans because of huge CalPERS termination fees, not to mention the authors of a proposed initiative giving voters power over pensions. But a CalPERS white paper that surfaced last week describes a “soft freeze” of pension plans that switches new hires to a … Continue reading How To Leave CalPERS Without Paying A Huge Fee
Ed Mendel is a reporter who covered the capital for nearly three decades, most recently for the San Diego Union-Tribune. More of his stories are at CalPensions.com A state attempt to create a retirement savings plan for 6 million private-sector California workers not offered one on the job, Secure Choice, got a boost last week … Continue reading California’s State-Run Retirement Savings Plan Gets Boost
