CalPERS Responds to Primack Critique, With Vitriol
A recent article by Fortune Magazine attacks CalPERS over questions surrounding placement agent activity, but the California scheme has fired back in defense.
A recent article by Fortune Magazine attacks CalPERS over questions surrounding placement agent activity, but the California scheme has fired back in defense.
The former CEO of the California Public Employees’ Retirement System has been sued by the Securities and Exchange Commission over claims he defrauded an investment firm into paying $20 million in fees to a friend’s placement agencies.
The Iowa Public Employees Retirement System is claiming that auditors overlooked a $553 million Ponzi scheme by issuing falsely clean audit reports.
BNY Mellon and State Street are being replaced by JPMorgan & Chase and Citigroup as custodians for four Ohio pension funds.
CalPERS has released a cost analysis of proposed Republican pension reform, noting that the proposal will lower retirement benefits for new hires and shift risk from employers to employees.
New York Governor Andrew Cuomo has had his pension proposal rejected by the state's Assembly Democrats.
Australian Treasury Secretary Martin Parkinson has voiced disapproval of a sovereign wealth fund for the country following strong support for such a fund from resource-rich Western Australia.