CalPERS No. 2 Investment Officer Resigns
In a sudden departure, CalPERS Chief Operating Investment Officer Elisabeth Bourqui has resigned just months after moving from Europe to take a key spot at the Sacramento-based pension plan.
In a sudden departure, CalPERS Chief Operating Investment Officer Elisabeth Bourqui has resigned just months after moving from Europe to take a key spot at the Sacramento-based pension plan.
Pension reform, stymied in court, is on the top of the lawmakers’ agenda.
Clock runs out on controversial nod for brother-in-law of Mitch McConnell, Elaine Chao.
Managers, auditors split on 2019 rate of returns, which are less than the previous two years.
The number of multiemployer pensions in critical status has fallen for the sixth straight year.
State Supreme Court denies Nevada PERS’s petition for a rehearing.
System liquidates entire high-yield portfolio.
The New York City firm is selected to manage an international portfolio even as other international equity strategies are being trimmed of their assets.
Management Board switches focus from row crops to permanent crops to target outsized performance.
Newly hired state workers will get lower benefits and either a 401(k) or hybrid retirement plan to save tax dollars, prop up DB funding levels.
Particular focus given to Asia-specific strategies.
Expected lower return environment spurs interest in private equity, real assets.
Regulator also charges account manager of concealing workplace pension failures.
While system is on track to full funding by 2046, investment volatility could throw a wrench into the process.
Pension officials hope more flexibility to invest in international infrastructure projects in developed countries will give the program more diversification and help results.