May 16, 2002 |
Another official of the California Public Employees' Retirement System is departing: James E. Burton, the pension fund's chief executive, said he will leave this fall for a private-sector career. Burton has been CEO of the $150-billion fund since 1994, and has worked in California state government for 27 years. William Crist, president of CalPERS' board, and Michael Flaherman, who heads the fund's investment committee, also are expected to depart by year's end.
December 19, 1996 |
The California Public Employees' Retirement System Board of Administration announced what it formed a historic $225-million partnership with the Asian Development Bank to make long-term, direct private equity investments in the emerging markets of the Asia-Pacific region. CalPERS called the partnership an international first for a U.S. public pension fund to team up with a multilateral bank.
March 17, 1995 |
The investment return for the California Public Employees Retirement System, the nation's largest public pension fund, fell nearly 1% during 1994, its worst performance in a decade. Sheryl Pressler, chief investment officer for the $80-billion CalPERS, said the "weak fund returns were due in large part to a substantial decline in the price of bonds caused by a tremendous rise in interest rates."
March 28, 1985 |
The Commission on State Finance brought its estimates of the state budget surplus closely in line with those of Gov. George Deukmejian Wednesday, throwing a damper on talk of a possible general tax cut next year. "We're about as close as you can get," said state Treasurer Jesse M. Unruh, chairman of the seven-member commission, which issues quarterly estimates of state revenues and expenditures.
CALIFORNIA | LOCAL
November 2, 2001 |
A state senator has encouraged the managers of California's public employee retirement fund to challenge, perhaps with a lawsuit, the management of Enron Corp., the high-flying energy company whose stock has plummeted more than 80% in the last year. The California Public Employee Retirement System, the nation's biggest public pension fund, owns roughly 3 million shares of Enron common stock. Enron shares, once valued at nearly $85, fell $1.91 Thursday to $11.99 on the New York Stock Exchange.
April 2, 1996 |
Carrying out a massive overhaul meant to give the investing public more say in its affairs, the National Assn. of Securities Dealers named the members of its three new boards of directors Monday, although the slim majority of "public" members includes executives with direct ties to the securities industry.