Please ensure Javascript is enabled for purposes of website accessibility
CalPERS President Voted Out After Politically Correct Investments
gvw_ap_news
By Associated Press
Published 6 years ago on
October 5, 2018

Share

SACRAMENTO — The president of the nation’s largest public pension fund was unseated Thursday by a critic who says fund directors are attempting too much social investment at the expense of pensioners. Corona police officer Jason Perez defeated Priya Mathur, a 15-year member of the California Public Employees’ Retirement System’s Board of Administration.
Perez received 9,208 votes while Mathur received 7,008, The Sacramento Bee reported.
It was Perez’s first run for the board. He’s said he worries about the $360 billion pension fund and wants it to concentrate on maximizing returns from its investments.
The system has enough money to cover roughly 70 percent of the money it owes to 1.8 million members.

Stopping Investments in Companies That Sell Assault Weapons

“I’m selfish; I want to retire,” he said when he announced his campaign, according to The Bee.

“I’m selfish; I want to retire.”Jason Perez, Corona police officer
He’s previously objected, for instance, to calls for the fund to stop investing in companies that sell assault weapons and devices that allow guns to fire more rapidly.
Mathur is a San Francisco Bay Area mass transit financial analyst. She was narrowly elected board president in January, and the board will now pick a new president next year.
She had argued that she helped the fund avoid sharp increases in health care costs and to gird itself for an economic slump.
Perez’s candidacy was supported by CalPERS board member Margaret Brown and former board member J.J. Jelincic, who have sparred with Mathur, the newspaper reported.
The fund has a 13-member board, including the state controller, the state treasurer, four members appointed by the governor and one appointed by the Legislature. The remaining six are elected by public employees and retirees.

DON'T MISS

SEC Sues Elon Musk, Saying He Didn’t Disclose Twitter Ownership on Time Before Buying It

DON'T MISS

Fresno County Man Faces Murder Charges in Crash That Killed Four

DON'T MISS

An Important Reservoir Was Offline When California Fires Began

DON'T MISS

Freshman Congressman Adam Gray Lands on Ag, Natural Resources Committees

DON'T MISS

Biden Moves to Lift State Sponsor of Terrorism Designation for Cuba, Part of Deal to Free Prisoners

DON'T MISS

Capital One Sued by US Watchdog Alleging Bank Cheated Customers Out of $2 Billion

DON'T MISS

Millions Under Extreme Fire Weather Alert as Strong Winds Lash Southern California

DON'T MISS

How the CIA Director Helps the US Navigate a World of Spies, Threats and Geopolitical Turbulence

DON'T MISS

Gov. Newsom, Mayor Bass Targeted in Wildfire Witch Hunt

DON'T MISS

Clovis Police Officer Injured While Responding to Suspected DUI Call

UP NEXT

An Important Reservoir Was Offline When California Fires Began

UP NEXT

Millions Under Extreme Fire Weather Alert as Strong Winds Lash Southern California

UP NEXT

Karen Bass Faces Growing Backlash Over Handling of LA Fires. Will She Resign?

UP NEXT

Before Taking Office, LA’s Mayor Said She Would Not Go Abroad

UP NEXT

Illegal Fireworks Suspected in Deadly Pacific Palisades Blaze

UP NEXT

This Is Where the Palisades Fire Started

UP NEXT

Firefighters Deploy Widely as Strong Winds Threaten More Los Angeles Neighborhoods

UP NEXT

As LA Burns, Corruption Probe Leaves State Senate’s Insurance Committee Chair Vacant

UP NEXT

Gov. Newsom Sparks Outrage as Donation Link to LA Fire Relief Connects to Super PAC

UP NEXT

IRS Issues Stimulus Payments Again. Who Is Getting Them?

Freshman Congressman Adam Gray Lands on Ag, Natural Resources Committees

6 hours ago

Biden Moves to Lift State Sponsor of Terrorism Designation for Cuba, Part of Deal to Free Prisoners

7 hours ago

Capital One Sued by US Watchdog Alleging Bank Cheated Customers Out of $2 Billion

7 hours ago

Millions Under Extreme Fire Weather Alert as Strong Winds Lash Southern California

7 hours ago

How the CIA Director Helps the US Navigate a World of Spies, Threats and Geopolitical Turbulence

8 hours ago

Gov. Newsom, Mayor Bass Targeted in Wildfire Witch Hunt

8 hours ago

Clovis Police Officer Injured While Responding to Suspected DUI Call

8 hours ago

A Possible TikTok Ban Is Just Days Away. A List of Other Apps Available

9 hours ago

Karen Bass Faces Growing Backlash Over Handling of LA Fires. Will She Resign?

9 hours ago

Before Taking Office, LA’s Mayor Said She Would Not Go Abroad

9 hours ago

SEC Sues Elon Musk, Saying He Didn’t Disclose Twitter Ownership on Time Before Buying It

The U.S. Securities and Exchange Commission has sued billionaire Elon Musk, saying he failed to disclose his ownership of Twitter stock in a...

4 hours ago

4 hours ago

SEC Sues Elon Musk, Saying He Didn’t Disclose Twitter Ownership on Time Before Buying It

4 hours ago

Fresno County Man Faces Murder Charges in Crash That Killed Four

The smoldering wreckage of beachfront structures destroyed by the Palisade Fire in Malibu, Calif., on Thursday, Jan. 9, 2025. The threat of more fires propelled by blistering Santa Ana winds hung over southern California on Friday as firefighters battled to contain the raging blazes that have killed at least 10 people and destroyed thousands of structures. (Loren Elliott/The New York Times)
6 hours ago

An Important Reservoir Was Offline When California Fires Began

6 hours ago

Freshman Congressman Adam Gray Lands on Ag, Natural Resources Committees

7 hours ago

Biden Moves to Lift State Sponsor of Terrorism Designation for Cuba, Part of Deal to Free Prisoners

7 hours ago

Capital One Sued by US Watchdog Alleging Bank Cheated Customers Out of $2 Billion

7 hours ago

Millions Under Extreme Fire Weather Alert as Strong Winds Lash Southern California

8 hours ago

How the CIA Director Helps the US Navigate a World of Spies, Threats and Geopolitical Turbulence

Help continue the work that gets you the news that matters most.

Search

Send this to a friend