Category Archives: Just Sayin’
Questions About CalPERS Pension Fund Management Selection Process Highlighted By Dropping of Minority Firm
The California Public Employees Retirement System, also known as CalPERS, is the nation’s largest retirement fund for state, local and education employees with a portfolio of $226 billion dollars. This money is managed by fund managers who seek to bring a minimum of seven percent (7%) return on pension funds that provide some 536,000 retirees a monthly pension from some 1.1 million members. It is a privileged opportunity for fund managers to be entrusted with managing the “people’s” retirement funds. A privilege that have often escaped private fund management firms owned by blacks and Latinos—in a state that is over … Continue reading →