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CalPERS Chief Investment Officer Yu (Ben) Meng Resigns

Yesterday, CalPERS Chief Investment Officer Yu (Ben) Meng Resigned effective August 5, 2020. Dan Bienvenue, deputy chief investment officer, will serve as interim chief investment officer. CalPERS will start an immediate search for a permanent successor. Click here for CalPERS’ press release...

Blog Entry
CalPERS Releases Preliminary Investment Returns for 2019-2020 year

Today, CalPERS reported that their preliminary net return on investments for the 2019-2020 fiscal year was 4.7%. Based on this return, CalPERS reports that the overall funded status of the retirement fund is 70% (based on a 7% discount rate). The fund has total assets of approximately $389...

Blog Entry
CalPERS Investment Returns Announcement and Subsequent Webinar

Tomorrow, CalPERS plans to announce their annual fiscal year investment returns at their monthly board meeting at approximately 9:00 AM. The announcement can be watched live via the CalPERS meeting webcast here . It is anticipated that CalPERS will be announcing that they did not achieve their...

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CalPERS Launches Pension Calculation Tool

Today, CalPERS announced launching their pension calculation tool called "Pension Outlook." According to CalPERS, "Pension Outlook is a tool to help plan and budget pension costs into the future with easy to understand results and charts." The tool will allow you to view projected funded...

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Legislature Passes State Budget

Last week, the California State Legislature moved to approve the state’s budget package, Assembly Bill 89 , which was signed by the Governor yesterday. Previously, both chambers had passed a “placeholder” budget on June 15 to meet a constitutionally-mandated deadline. In addition to AB 89, the...

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CalPERS Extends Comment Period for Precedential Decision, Again

On February 26, 2020, CalPERS issued a memorandum requesting public comments regarding the designation of the CalPERS’ Board of Administration’s Decision in the Dudley Lang matter as precedential. CalPERS had requested that all public comments be submitted no later than March 27. However, due...