California Public Employees Retirement System Archives

City of San Bernardino Exits Decade-Long Bankruptcy By Posting $2.5 Million Surplus

September 14, 2022 5:30 amSeptember 13, 2022 8:01 pm

The city of San Bernardino exited it’s bankrupt status on Tuesday following over a decade of facing severe revenue and cash shortages. On August 1, 2012, San Bernardino filed for bankruptcy following posting a $45 million shortage of revenue and...

Bill To Force CalPERS, CalSTRS to Divest From Fossil Fuel Companies Dies in Assembly Committee

June 23, 2022 4:12 pm

A bill that would have had forced both the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS) to divest from fossil fuel companies they have invested in died in the Assembly on Wednesday after...

Insurance Commissioner Ricardo Lara Issues Notice Calling For Insurance Companies To Divest From Russia

March 15, 2022 2:32 amMarch 14, 2022 9:32 pm

Insurance Commissioner Ricardo Lara became the latest California lawmaker to push for Russian asset and property investment on Monday, issuing a notice to all insurance companies in the state to divest from Russia soon due to the ongoing Russian-Ukrainian war....

Proposed Bill To Require State Pension Funds to Divest Completely From Russian Investments

March 1, 2022 11:56 am

A bipartisan-backed bill to require the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS) state pension funds to divest completely from any Russian assets was announced on Monday, with the intention of being formally...

SEIU Leader Suspended For Six Months Following $44,000 Time Sheet Fraud

November 29, 2021 12:00 pmDecember 8, 2021 3:47 pm

Tony Owens, the former Vice President of Bargaining for the Service Employees International Union (SEIU) Local 1000 in Los Angeles, was suspended for six months without pay from his California Public Employee’s Retirement System (CalPERS) on Monday following an investigation...

GM Agrees To $5.75 Million Settlement With California

February 15, 2021 2:44 pmFebruary 15, 2021 2:46 pm

During the weekend, General Motors announced that it had agreed to a $5.75 million settlement with the state of California over false statements that GM had told their investors about defective ignition switches. According to government officials, GM had found...

Lenders – and Pensions – Are Salivating at Californians’ Pain

June 11, 2020 3:14 pmJune 12, 2020 6:22 am

Californians have weathered several storms the last few months. Due to COVID-19, close to 5 million Californians have been put out of work. With so many people impacted by unprecedented job loss, more and more consumers will reach out to...