Advertisement
YOU ARE HERE: LAT HomeCollectionsRob Feckner
IN THE NEWS

Rob Feckner

BUSINESS
April 20, 2006 | From Bloomberg News
The California Public Employees' Retirement System has hired Russell Read, deputy chief investment officer at Deutsche Asset Management, to be its new chief investment officer. Read, 42, replaces Mark Anson, 46, who resigned in January to become head of British retirement management firm Hermes Pensions Management Ltd.
Advertisement
BUSINESS
February 1, 2010
Pension fund The California Public Employees' Retirement System is the largest public pension fund in the nation. Based in Sacramento, the fund -- known as CalPERS -- provides retirement benefits for 1.6 million active and inactive state and local government workers, retirees and their families. It also manages healthcare benefit programs for 1.3 million people. Overseen by a 13-member board of administration. Some board members are elected by state workers and retirees; others are appointed.
BUSINESS
August 14, 2004 | E. Scott Reckard, Times Staff Writer
Officials of the California Public Employees' Retirement System said Friday that they would lead a campaign against rich severance pay for executives who sell their companies. "We want to urge public pension funds across the country to join us," said Rob Feckner, chairman of the CalPERS investment committee. Retirees "are tired of picking up the bill for this type of egregious behavior." The proposal was motivated by Anthem Inc.'s planned $17-billion acquisition of WellPoint Health Networks Inc.
BUSINESS
December 30, 2009 | By Marc Lifsher
The California Public Employees' Retirement System board, responding to allegations of past conflicts of interest, has adopted a new ethics policy to govern contacts with outside sales intermediaries and investment fund managers. The policy, unveiled Tuesday, requires the 13 board members to refer all communications on existing or potential investments to CalPERS' professional staff. Members also are counseled not to advocate on behalf of any particular investment outside of a board meeting.
BUSINESS
April 26, 2006 | From Bloomberg News
The California Public Employees' Retirement System said UnitedHealth Group Inc. must immediately explain $2.4 billion in stock options granted to top executives. CalPERS sent a letter to UnitedHealth demanding a meeting before shareholders of the No. 2 health-insurance company in the U.S. are set to vote May 2. CalPERS may withhold proxy votes for Chief Executive William McGuire, who will receive $1.
BUSINESS
December 13, 2005 | From Bloomberg News
The California Public Employees' Retirement System, the biggest U.S. pension fund, said Monday it topped $200 billion for the first time, helped by gains in foreign stocks, buyout funds and real estate investments. CalPERS has added $44 billion since 2001, when it suffered its worst performance in nearly two decades amid slumping U.S. stocks. The fund has posted 10% or more in each of the last two years as stocks rebounded and the pension had gains in real estate and private equity.
BUSINESS
April 26, 2008 | From Bloomberg News
The chief executive of the California Public Employees' Retirement System is planning to leave by the end of the year amid tensions with the board, according to two people familiar with the matter. The board is in discussions with Fred Buenrostro, 58, about his departure from the largest U.S. public pension fund, known as CalPERS, said the people, who declined to be identified. He has been in the job since 2002 and was a member of the board of directors for 15 years. CalPERS has $244 billion in assets.
BUSINESS
May 18, 2011 | By Marc Lifsher, Los Angeles Times
California is getting a slight break on its pension bill for the upcoming fiscal year. The California Public Employees' Retirement System said Tuesday that the state's contribution for the fiscal year starting July 1 will be $170 million less than previously estimated. The biggest factor in the savings is an agreement by state worker unions to hike employees' contributions to their own retirement plans. Employee contributions are rising 2% to 5%, CalPERS said, and in the aggregate are forecast to total $1.3 billion next year.
BUSINESS
March 18, 2013 | By Michael Hiltzik
The federal fraud indictments of two former CalPERS officials , announced today in San Francisco, represent the dropping of shoes from a very tall height -- at least that's one explanation of why the case has taken so long.  The charges against former CalPERS Chief Executive Fred Buenrostro and former CalPERS board member Alfred Villalobos stem from wrongdoing that may date back as far as 2002. A report CalPERS commissioned from the law firm of Steptoe & Johnson was made public in 2011.
BUSINESS
October 8, 2011 | By Marc Lifsher, Los Angeles Times
Top administrators and investment managers at the California Public Employees' Retirement System were awarded $4.5 million in bonuses, averaging 41% of their base salaries for the year that ended June 30. The bonuses ranged from a high of 73% of the $240,000 salary of the senior portfolio manager for fixed income to a low of 14% of the $358,280 salary for the senior investment officer in charge of risk management. The fixed income securities manager, Tom McDonagh, also got the largest bonus measured in total dollars, $212,064, which was pro-rated to cover 14.5 months in the position.
Los Angeles Times Articles
|