Public sector workers want to strike down a provision that stops them from winning higher benefits in retirement.
The giant pension fund is switching from return-oriented goals to a sharper focus on liquidity and strong betas.
Former board member J.J. Jelincic protests the October 17 election, claims CalPERS team plotted to thwart his candidacy.
Despite the ruling, the court sidestepped a much larger issue, whether core pension benefits promised at the time of hire for public workers can be changed.
Group highlights financial risks sustained from misconduct in the workplace.