FinanceNewsAPI
Nation’s largest public pension fund plagued by secrecy and underperformance, probe finds - NBC News
Overview
An independent investigation of the California Public Employees’ Retirement System (CalPERS) found that its 2.4 million members are at risk due to secrecy, chronic underperformance, and weak governance. The probe identified opaque practices and oversight failures that have eroded returns and accountability. Its findings raise broader concerns about the stability and management of public pension systems nationwide, echoing other recent signs of strain in public retirement funding.
Entities
ORGNBC NewsORGCalifornia Public Employees’ Retirement SystemUnited States
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