Apple admits to backdating options
Blackstone Group LP announced in November 2015 that it would acquire 43 international and domestic real estate funds from Cal PERS for billion. There were investment income gains of billion in 1999, billion in 2000 and five billion dollars in 2003.
The 43 funds will come from the non-core real estate portfolio. The stock market declines in 2001 led to investment income losses of 12 billion in 2001 and 10 billion in 2002.
This was vigorously The retirement benefits "are calculated using a member's years of service credit, age at retirement, and final compensation (average salary for a defined period of employment)," and the retirement formulas "are determined by the member's employer (State, school, or local public agency); occupation (miscellaneous (general office and others), safety, industrial, or peace officer/firefighter); and the specific provisions in the contract between Cal PERS and the employer".
Cal PERS has reciprocity agreements with many of these California public retirement systems that allow retirees with service credit and contributions in two systems to receive payments from both systems.
Member contribution rates can change based on legislative law changes.
There was a 12 billion dollar investment income loss in 2008 and 55 billion in 2009.Notable past Board members have included Caspar Weinberger (1967–1969), Jesse Unruh (1983–1987), Gray Davis (1986–1994), Matt Fong (1995–1998), Kathleen Connell (1995–2003), Phil Angelides (1999–2006), Willie Brown (2000–2005), and Steve Westly (2003–2006). Thus, the five-year period 1999 to 2003 period had a cumulative income of 16 billion dollars, or about three billion a year on an investment portfolio of over 0 billion.As of 2017, the current Board members are Rob Feckner (President), Priya Sara Mathur , Michael Bilbrey, John Chiang, Richard Costigan, Richard Gillihan, JJ Jelincic, Henry Jones (Vice President), Ron Lind, Betty Yee, Bill Slaton, Teresa Taylor and Dana Hollinger. The next four years were a period of investment income stability; a 24 billion investment income in 2004, 22 billion in 2005, 21 billion in 2006, and 41 billion in 2007.The 124 billion dollars of income in the nine-year period 1999-2007 was reduced by half as a consequence of the combined losses of 67 billion in 20.This totals to 57 billion dollars of investment income during this 11-year period, or about 5.1 billion a year on an investment portfolio of 261 billion in October 2007 and down to 186 billion in October 2008.
The California Public Employees' Retirement System (Cal PERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.6 million California public employees, retirees, and their families". He began PERS' emphasis on corporate governance; in addition, he was instrumental in creating the Council of Institutional Investors, an organization of pension funds and other institutions that opposed "greenmail and other corporate practices that benefited only management". Reporting to the CEO, the executive officers of Cal PERS are: Deputy Executive Officers for Customer Services and Support, Health Benefit Programs, Policy and Planning, Operations and Technology, and External Affairs; a General Counsel; a Chief Actuary; and a Chief Financial Officer; a Chief Information Officer; a Chief Risk Officer; and a Chief Investment Officer.