Sidetalk

Something is happening at the nation’s largest pension fund, the Sacramento-based California Public Employees’ Retirement System, which has nearly a quarter-trillion dollars in investments ranging from real estate to stocks.  With that much money and a governing board dominated by politicians and union representatives, there have been hints that factors other than pure fiduciary responsibility often drive decisions.  Some of those other motives have been advertised – investment in low-income housing or environmentally pure ventures, for instance – while others have been all but virtually impossible to divine, since CalPERS has been a very tight-lipped shop.  read more → calpers