Category Archives: CalPERS

CalPERS Employee Accused of Embezzling $685,000 from Beneficiary Bank and CalPERS Accounts Hasn’t Been Arrested, Much the Less Prosecuted. Why the Cover Up?

CalPERS has allowed an employee accused of massive embezzlement to go free for months rather than seek her arrest and prosecution. What is it hiding?

FBI Investigating Reporting Fraud at $62 Billion Pennsylvania Public Pension Fund, PSERS; Returns Allegedly Falsified to Avoid Increased Worker Contributions

A major public pension fund, PSERS, looks to have been cooking its books, to the degree that the FBI is asking difficult questions.

LACERS Board Member Lambastes Lousy Private Equity Returns as More Studies Confirm Poor Performance for Decades

Yet another nail in the private equity performance coffin.

CalPERS Shoots Itself in the Foot: Undermines Its Position in Insolent Letter Demanding JJ Jelincic Drop His Case Against Secrecy Abuses

Not only is CalPERS in a poor position in defending against a suit by former board member JJ Jelincic, but its attorney isn’t helping.

CalPERS Laughingstock: Marcie Frost, Who Previously Pursued Non-Existent Dual Bachelors/Masters Degree, Designates Herself Law School Grad and Bar Member; Investment Committee Chair Theresa Taylor Admits Not Knowing What SPACs Are

CalPERS’ leadership has such an advanced case of Dunning Kruger effect that they can’t recognize when they are making fools of themselves.

CalPERS Board Member Theresa Taylor Outs that a Staff Member Has Committed Fraud; When Will Giant Pension Come Clean?

Yet more misconduct at CalPERS.

Former Board Member JJ Jelincic Sues CalPERS Over Illegal Secret Board Discussion After CIO Ben Meng’s Abrupt Departure and Hiding of Records Related to $583 Million Overstatement of Real Estate Assets

Former CalPERS board member JJ Jelincic is pursuing the thankless task of getting the agency to shape up. He may have found a leverage point.

Pension Bridge Presents Former CalPERS CIO Ben Meng as ESG Leader Despite California Investigation for Conflict of Interest That Led to His Exit

Pension Bridge discredits itself by inviting former CalPERS CIO Ben Meng, under investigation for ethics violations, to speak at its ESG event

Investors Not Reassured by Apollo Trying to ‘Splain Leon Black’s $188 Million in Payments to Serial Child Rapist Jeffrey Epstein

Apollo is not having much success with its claim that a $188 million paid by Leon Black to Jeffrey Epstein in fees and loans was bona fide.

The Next Neoliberal President…

A clear eyed and therefore not cheery look at where President Biden is set to take the US.

CalPERS Making It Impossible to Hire Competent Chief Investment Officer

CalPERS is such damaged goods that it apparently can’t attract the sort of CIO it wants to hire.

Authoritative Consultant Slams Private Equity in Journal Article: Cheap Index Funds and In House Buys Beat PE Funds

Yet another authoritative source slams private equity returns.

CalPERS Employees Beware: Don’t Fill Out Non-Confidential Survey Jiggered to Falsely Boost Executive Bonuses

Memo to CalPERS employees: If you see staff or vendors profiteering, call a lawyer. You could win a financial award and stop the abuse.

Another Blow to Private Equity: “You Can Pick Winners” Again Shown To Be a Fool’s Game

More bad news about private equity returns.

Can’t Do America: Kick the Can Approach to Public Pension Fund Crisis, Even Though Canada Cleaned Up Its Mess

Why the US is certain to ignore the Canadian roadmap out of its public pension fund mess….and it’s not just because exceptionalism.