Last year, California Public Employees' Retirement System (CalPERS) paid more than $15 billion inbenefit allowances to its more than 500,000 retirees. That money caused a ripple effect, stimulatingCalifornia's economy by nearly $31 billion. As the country continues to emerge from the great ...
Public employee pension plans tend to be more generous than private ones. Whereas many pensions use 1% in their formulas, the nation’s largest pension plan, the California Public Employees’ Retirement System (CalPERS), pays 2% in many instances.2In that case, if an employee had 35 years o...
This definitional challenge has been exacerbated by the blurry distinctions between the “impact investment” community, which is explicitly willing to trade off financial returns for social impact, and the much broader family of “sustainable finance”, which looks to integrate sustainability into the ...
Christopher Ailman:I always said I’d come back to Sacramento for one of two jobs: California Public Employees’ Retirement System [CalPERS] or CalSTRS, because they are meaningful to me. My sister, sister-in-law, and now my daughter are all teachers...
These assets now make up as much as 57% of the portfolios of the most wealthy endowment funds, according to the National Association of College University Business Officers (NACUBO). This includes the likes of Harvard, Stanford, MIT, Yale, the Gates Foundation, and CalPERS. It has made bill...
State agencies don’t have a say in how much they contribute toward pensions. That’s determined by CalPERS, where unions have long had considerable influence. Six of the agency’s 13 board members are chosen by public employees; the others are elected officials and their appointees....
It would seem that CALPERS, the largest public retirement system in the US, should have the expertise and discipline necessary to deliver returns close to the geometric total return for the S&P 500 from 1969-2012 of 9.51%. They have not come close and in fact have not even met their ...
Given the power of inflation, to neither max out your 401(k) nor invest an additional 20%+ of your after-tax income if you don't have a pension is risky. When it comes to your money, it's always better to end up with too much than too little. ...
North Carolina requires all its state employees and teachers to pay 6 percent of each paycheck into a retirement fund over the course of their employment with the state. If you're a North Carolina employee and you leave your post, voluntarily or otherwise, you may withdraw your contributions,...
“Diversity is much more than gender, age or background,” she said. “Gender diversity is easier to measure, but we need to broaden our work to include all aspects of diversity.” Danielson added that AP2 still has much work to do improving its own diversity record. Having said that, ...