Public Employees’ Retirement System (CalPERS)

US Pension Funds Lost $400 Billion on China Investments in July

August 3, 2021 7:47 amAugust 4, 2021 10:48 am

“Big Chinese tech stocks lost hundreds of billions of dollars in combined market value in July, reflecting rising investor concern about how the sector will fare under a barrage of regulatory pressure from Beijing,” the Wall Street Journal reported last...

CalPERS Investment Chief with ‘Long and Cozy Relationship with China’ Resigns

August 6, 2020 8:17 amAugust 7, 2020 3:45 pm

California Public Employees’ Retirement System (CalPERS) said late Wednesday Yu Ben Meng resigned as its chief investment officer, Reuters reported. California Globe reported in February when House Armed Services Committee member Rep. Jim Banks (R-IND) sent California Governor Gavin Newsom...

President Trump Orders Federal Retirement Funds Invested in Chinese Equities to be Pulled

May 12, 2020 2:20 amMay 12, 2020 9:08 am

President Trump is moving to cut investment ties between U.S. federal retirement funds and Chinese equities, in a move that is tied to the handling of COVID 19, Fox News reported Monday evening. “National security adviser Robert O’Brien and National Economic Council Chair...

Coronavirus Side Effect: CalPERS Drops to 60% Funded

May 5, 2020 7:08 amMay 5, 2020 7:38 am

Gov. Gavin Newsom’s coronavirus emergency management policy to shut down the economy rather than triage the vulnerable has resulted in a 10 percent investment fund loss for the California Employees Retirement System – CalPERS – from 70 to 60 percent...

California State Capitol dome shines against blue sky

Time for California’s Unions to Get Serious About Pension Reform

March 23, 2020 4:05 pmMarch 23, 2020 4:08 pm

An independent contractor in California has 12.4 percent withheld by the Social Security Trust Fund, and for that, they may expect a maximum of $45,480 if they retire at age 70, after nearly 50 years of work. There was a...

More Warnings of U.S. Dependence on Goods Produced in China, and CalPERS Investments in China’s Military

March 16, 2020 6:24 pmMarch 16, 2020 6:35 pm

Last month, California Globe reported about Rep. Jim Banks’ (R-IND) letter to sent California Governor Gavin Newsom, calling for the investigation of the CalPERS Chief Investment Officer Yu Ben Meng, for his “long and cozy relationship with China.” The California...

CalPERS Fails to Answer Rep. Jim Banks’ Questions Regarding CIO’s Ties to China

February 21, 2020 9:31 amFebruary 21, 2020 9:55 am

California Globe reported last week Rep. Jim Banks (R-IND) sent California Governor Gavin Newsom a letter calling for the investigation of the California Public Employees’ Retirement System Chief Investment Officer Yu Ben Meng, the largest public pension fund in the...