CalPERS: Investments Determined by “Social Policy”–NOT Return on Investments

As we all know, the purpose of a pension plan is to maximize return on investment.  Not California, thanks to poor management, corruption and policies, CalPERS has $525 or more in unfund liabilities.

Here is one reason.  “How many policies and statements does CalPERS have aimed at guiding its massive investments, valued at $229 billion last week, in ways that look at the
environment, social conditions and corporate governance?

A new study found 111 of them.

The impressive list, growing over decades, was compiled by a consultant as CalPERS prepares to integrate what has become known as ESG (environment, social and governance) issues into its investment process to reduce risk and increase profit.”

Then you have to ask who is pushing CalPERS to lose money?

“Among the groups pushing ESG issues are the United Nations-connected Principles for Responsible Investing and the International Corporate Governance Network.”

We know the United Nations is run by totalitarian, Third World nations.  What better way to equalize poverty then by destroying our pensions?  Why do we care, at all, what the UN thinks–it is an openly corrupt, vicious, terrorist supporting organization.  A
legitimate organization would not have Libya, Cuba, Syria or China as a member. Why should Hugo Chavez be the equal of President Obama?  Well, actually, maybe they are equals?

Read More…

Stephen Frank’s California Political News and Views

September 06, 2011, 11:36 PM

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