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Business Briefing / PENSIONS

CalPERS adds investing rules

August 19, 2008|From Times Wire Services

The California Public Employees' Retirement System approved new guidelines for public works investments after assuring labor unions that such funds wouldn't jeopardize civil service jobs.

The CalPERS board approved the policy after adding language it said would ensure that government workers' jobs would not be outsourced to private firms in so-called public-private partnerships in which the pension fund invests.

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