Calif. Pension Board Rejects Lower Forecast For Returns

Board members of the nation’s largest public pension fund on Tuesday rejected a proposal to reduce its forecast of future investment returns, avoiding the politically sensitive move of demanding more money from state or local governments this year.

CBS San Francisco–03/15/2011


Report: Firms Paid $180M To Win CalPERS Business

Money managers have paid more than $180 million to middlemen as a way to gain investment business from the nation’s largest public pension fund, and at least some of those costs likely ended up being paid by the fund itself through inflated fees.

CBS San Francisco–03/14/2011


California State Retiree Health Benefit Costs Soar

State Controller John Chiang said the unfunded cost of providing future health and dental benefits to retired state employees has grown by $8.1 billion in the past year, to nearly $60 billion.

CBS San Francisco–03/14/2011


Oakland Federal Judge Rules For Gay Rights Backers In Health Suit

A federal judge has issued a favorable ruling for gay-rights advocates involving state employees and long-term health care.

CBS San Francisco–01/20/2011