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Fiduciary Duty › Pensions › California Public Employees Retirement System

Nossaman LLP

Felony Forfeitures Statutes Tested Again: A Tale of Two States’ Pension Reform Statutes–One Forfeiture Survives and One Does Not

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The constitutionality of California’s felony forfeiture statute, as applied by the Board of Administration of the California Public Employees’ Retirement System (CalPERS), survived yet another challenge in September 2023,...more

Allen Matkins

What Exactly Is “Constructive Engagement”?

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Yesterday, I wrote about SB 185 (De León) which mandates that California’s two giant pension funds to liquidate their investments in thermal coal companies on or before July 1, 2017.  One aspect of the bill that I didn’t...more

Allen Matkins

California’s New “Thermal Coal” Divestment Law Forces Fiduciary Duty Question

Allen Matkins on

Public pension funds exist to provide retirement benefits to public employees.  Cal. Const. Art. XVI, § 17(a).  In 1992, the voters of California tried to eliminate political interference with the state’s retirement funds by...more

Allen Matkins

Do Public Pension Funds Breach Their Fiduciary Duties By Pursuing Social Issue Proposals?

Allen Matkins on

Yesterday, UCLA Law School Professor Stephen Bainbridge noted the publication of a recent study that reaches some devastating conclusions for public pension funds.  The study by Professor Tracie Woidtke at the University of...more

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