California Suspends State Investments With Wells Fargo Over Bank's 'Fleecing Of Its Customers' California Treasurer John Chiang says he's suspending some of the state's business with Wells Fargo amid a scandal over two million accounts allegedly opened without customers' permission.
Former CalPERS CEO To Be Sentenced For BriberyFederal prosecutors want the former head of the nation's largest public pension fund sent to prison for four years after he acknowledged accepting more than $200,000 in bribes and trying to steer investments to help an associate.
San Bernardino To Pay Pensions Despite BankruptcyThe city of San Bernardino has agreed to pay the California Public Employees' Retirement System all that it owes in bankruptcy proceedings.
Gov. Brown, California Pension Board To Consider Rate IncreasesThe board of the California Public Employees' Retirement System is considering how municipalities and government agencies should absorb the mounting costs of retirees living longer.
Lawsuit Alleges Over 100,000 Retirees Misled Over Rate Hike By CalPERSA class action lawsuit filed Tuesday accuses CalPERS of intentionally misleading over 100,000 retirees over the past 18 years by selling them long-term insurance that turned out to be insufficiently funded and under duress for a decade.
Ex-CalPERS CEO, Board Member Charged With Fraud Federal officials on Monday charged the former head of the nation's largest pension fund and one of his business associates with falsifying documents and other charges in a long-running influence peddling and bribery investigation.
Calif. Treasurer Eyes Pension Divestment From Gun Manufacturers State Treasurer Bill Lockyer is calling for a review of state pension fund investments connected to a company that manufactures firearms - including a type of rifle used in the Connecticut school shootings.
CalPERS Funds Stung By Stock Market DeclineThe turmoil on Wall Street has hit the nation's largest public pension fund, which has lost about $18 billion off the value of its stock portfolio since July 1.
Convicted Ex-Mayor Of Temple City Can Keep Pension, Medical CoverageFormer Temple City Mayor Cathe Wilson will continue to receive pension checks even though she was convicted of perjury and bribery and was sentenced in June to four years in state prison.
Disability Pensions Of Ex-Bell Police Officers Under ScrutinyThe office that manages retirement benefits for California public employees is looking into the validity of pension plans for at least 10 police officers, including four chiefs, who retired from the city of Bell.
Lower Forecast Rejected For Calif. Pension FundBoard members of the nation's largest public pension fund on Tuesday rejected a proposal to reduce its forecast of future investment returns, avoiding the politically sensitive move of demanding more money from state or local governments this year.
Fifty-Six Page Report On Alleged CalPERS Fraud Released TuesdayMoney managers have paid more than $180 million to middlemen as a way to gain investment business from the nation's largest public pension fund, and at least some of those costs likely ended up being paid by the fund itself through inflated fees.