On December 12, 2019, the California Court of Appeal for the First Appellate District handed down a unanimous decision in Luke v. County of Sonoma, Sonoma County Employees’ Retirement Association, et al., affirming the...more
In March, I wrote about AB 2571 which would have prohibited public pension fund investments in alternative investment vehicles that lacked race and gender pay equity policies. Yesterday, the bill was amended to require...more
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
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