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CalSTRS

CalSTRS Appoints New Director Of Corporate Governance

Kirsty Jenkinson will be director of corporate governance for the California State Teachers Retirement System starting in January 2019. She replaces Anne Sheehan who retired in March 2018. More information on Ms. Jenkinson can be found in this report from BusinessWire: Ms. Jenkinson comes to CalSTRS from Wespath Benefits and Investments in Illinois, ...
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The Pension vs. 401k Debate Harms Teachers

This post originally appeared on TeacherPensions.org. Each year, around 150,000 new teachers are hired to work in American public schools. Those teachers might not pay much attention to their retirement except to note that they’re enrolled in their state’s pension plan. A “pension plan” sounds good, safe, and secure, much ...
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Pew: Investment Performance Falls As Alternative Allocations Rise

Seeking to boost returns on their investments, many state pension funds turned to hedge and private equity funds for help. Alternative investments grew from 11% to over 26% of the average public pension plan. A Pew study reports that as of fiscal year 2016 (latest available data), state pension funds now have a combined $1.4 trillion deficit, up $295 ...
Calpers

Meng Returns To CalPERS As New CIO

After three years in China as the deputy chief investment officer for the State Administration of Foreign Exchange, former employee Ben Meng will return to CalPERS as Chief Investment Officer (CIO). He will succeed Ted Eliopoulos who was CIO since 2014. Adam Ashton filed this report in the Sacramento Bee: ”We are pleased to have (Meng) back,” CalPERS ...
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Pew Says Modest Economic Downturn Could Spell Doom For The Most Underfunded Pension Systems

A relatively healthy US economy has helped keep state pension funds afloat over the past several years but a recent study from The Pew Charitable Trusts suggested that even a modest downturn in economic fortunes could push off the cliff some of the more troubled state pension funds like those in New Jersey and Kentucky. Here is an excerpt from a report ...
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Some Risk Is Good For Defined Benefit Plans, Says Study

Safe investments are good. But investments that are too safe also carry potential risks for beneficiaries. A study by two Iowa University professors suggests that defined benefit plan sponsors should expand their investment choices to riskier assets and go beyond liability-driven strategies that rely on fixed-income assets. “Employees have some desire ...
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CalPERS “Direct” Isn’t So Direct

The California Public Employees Retirement System (CalPERS) is considering launching two new investment partnerships that would manage more than $20 billion over the next ten years. But that plan has encountered fierce opposition from inside CalPERS. The opposition to the plan has centered over the lack of control CalPERS will have over the investments ...

OTPP Building New Careers?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Rishika Sadam of Reuters reports, Apollo Global-led investor group to buy CareerBuilder: A group of investors led by U.S. private equity firm Apollo Global Management LLC (APO) and Ontario Teachers’ Pension ...

Maverick CalPERS Board Member Won’t Run Again

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 CalPERS board member J.J. Jelincic, known for being reprimanded by fellow board members and asking frequent and detailed questions about agenda items, was expected to seek a third ...

CalPERS on PE Fees: Staff “Can’t Track It”, But Software Can

CalPERS’ pays billions of dollars in fees to external investment managers each year. But an official admitted last week that the fees are sufficiently complex that staff “can’t track” them by themselves. It was revealed at last week’s board meeting that the pension fund uses an algorithm — part of software built for ...
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