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Cal pension reforms set to pass

Governor of California, Edmund G Brown Jr, has announced proposed legislation that outlines sweeping reforms to the state’s pension system, but appears to have stepped back from a proposal to create a hybrid pension plan. The hybrid defined-contribution/defined-benefit plan was proposed last year when Brown launched a 12-point reform package. It was widely opposed by […]
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CalPERS gets dynamic in strategic plan

CalPERS aims to increase its total-portfolio risk oversight, as well as move towards more dynamic asset allocation as the fund attempts to overhaul its investment decision-making processes. This week the fund released a two-year business plan that aims to implement a risk-based dynamic asset-allocation approach by June 2014. It is the first time the $238.2-billion […]