The California State Teachers’ Retirement System, the second-largest U.S. public pension fund, opposed Walt Disney Co.’s executive-pay plan and the decision to combine the roles of chairman and chief executive officer.
Fitch Ratings Ltd. settled negligence claims brought by the California Public Employees’ Retirement System’s over ratings it gave structured investment vehicles that later collapsed, agreeing to provide Calpers with documents from a similar lawsuit pending in New York.
We’ve all heard it: Social Security is broke. Worse, it’s a grand Ponzi scheme, according to one politician. The great fear for many Americans is that Social Security will run out of money to pay benefits to millions of retirees, leaving a generation of elderly Americans destitute. The recent mini crisis over raising the debt ceiling only fueled concerns that benefit checks might not go out as scheduled if the debt ceiling had not been raised.
California Governor Jerry Brown sued State Street Corp. in 2009, when he was attorney general, for “unconscionable fraud” against pension funds over foreign- exchange pricing. That didn’t stop the largest of the funds from striking a new three-year deal with the firm.
The California Public Employees’ Retirement System, the nation’s largest pension, is winding down a European fund managed by former U.S. Securities and Exchange Commission Chairman Richard Breeden after it lost $71.5 million.
The California State Teachers’ Retirement System, the second-largest U.S. pension, may use its investment clout to push corporations to disclose their political donations, under a policy adopted by the fund’s investment committee.
A 10,200-acre (4,100-hectare) desert site in Arizona sold for $32.5 million this week, five years after a group with investors including the California Public Employees’ Retirement System paid $400 million for the land.