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The Latest Breaking News from CalPERS

Don't Let Culture Wars Weaken the Financial System

In California, officials are pushing pension funds to divest from fossil fuels, firearms manufacturers, and tobacco companies. Red states are retaliating. This is madness.

Reason

Personal data of more than 700,000 retired California workers and beneficiaries have been stolen

California officials are notifying state retirees and other beneficiaries whose personal information has been stolen

The Independent UK

Editorial: California should stop investing its retirement funds in fossil fuels. They’re risky and immoral

California has some of the nation’s leading climate policies, with hard deadlines to slash greenhouse gas emissions, switch to zero-emission cars and trucks and get 100% of its electricity from carbon-free sources. But so far, its leaders have lagged behind other states, like Maine and New York, in using another…

Los Angeles Times

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Toyota’s board chair loses support from U.S. funds like CalPERS over slow embrace of EVs

Akio Toyoda, grandson to Toyota's founder, was slow to embrace electric cars during his time as CEO.

Fortune

For Kaiser Therapists, the Strike Is Over But the Work Goes On

After 10 weeks of workers walking the picket line, core issues regarding patient care remain unresolved.

Capital & Main

COVID, flu, RSV: The benefits of advocating for boosters in the workplace–and how to go about it

The return to the office has turned into a superspreader event.

Fortune

Last year’s losses at California pension systems were larger than initial reports showed

SACRAMENTO, Calif. — California’s two giant pension systems lost a couple billion dollars more than was previously reported in the volatile markets of the first half of this year.

Tribune News Service

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Economy and Society, September 27, 2022: House Financial Service Committee addresses ESG

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

Black Swan Hedge Funds Are Booming in Scary Times

Money managers are selling insurance against sudden market drops, but the strategy is expensive and doesn’t always pay off when the market falls.

Businessweek

Plummeting stocks and a Moscow shopping mall. CalPERS is stuck with its Russia investments

California lawmakers turned to the state’s two giant pension systems to punish Russia when the country invaded Ukraine in February, urging the funds to sell off Russian holdings.

Tribune News Service

Benzinga Before The Bell: Snap's Dismal Earnings, Amazon's Healthcare Foray, Robinhood Moves 41B Dogecoin Into Single Wallet And Other Top Financial Stories Friday, July 22

Reuters

Benzinga

California pension fund reports $29 billion loss, first since Great Recession, amid market turmoil

The California Public Employees' Retirement System reported a loss of more than 6% last fiscal year, its first negative investment return since the Great Recession, the state pension fund said Wednesday.

Los Angeles Times

Crypto plunge is cautionary tale for public pension funds

The plunge in prices for Bitcoin and other cryptocurrencies provides a cautionary tale for the handful of public pension funds that have dipped their toes into the crypto pool

The Independent UK

He and his wife both got cataract surgery. His bill was 20 times higher than hers

Whether a simple operation is performed under the auspices of a hospital or at an independent surgery center can make a huge difference in cost.

WEKU

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Tribune News Service

State worker union gets vocal in fight against CalPERS’ office requirements

SACRAMENTO, Calif. — A union representative who works at CalPERS is leading one of the most visible fights in California state government against strict in-office requirements amid a new COVID-19 surge.

Tribune News Service

Editorial: You would think that a child molesting California cop would lose his fat pension, but no

Because sexually assaulting his two young daughters was not “work-related,” former California Highway Patrol lieutenant Johnnie Swaim gets to draw almost six figures in an annual, taxpayer-funded pension.

Benzinga

Largest US Pension Fund Sold FAANG Stocks In Q1: Which Chip Stock Did It Buy Instead?

The largest pension fund in the U.S. reduced its FAANG holdings in the first quarter amid the tech rout at the start of the year, the 13-F filed with the SEC late Wednesday revealed.

Benzinga

Largest US State Pension Fund To Vote For Removing Warren Buffett As Berkshire Chairman

The largest state public pension fund in the U.S. has sided with a minority shareholder, which has sponsored a proposal to remove Warren Buffett from the post of chairman of the board of Berkshire Hathaway, Inc.

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