Posts Tagged: retirement security
Couple enjoying a lake in Rancho Santa Margarita, Orange County.(Photo: VG Photo, via Shutterstock)
OPINION: As Americans confront the effects of a K-shaped recovery that is further enriching the wealthy even as low- and-middle income workers struggle to stay afloat, the chasm between Wall Street and Main Street has never seemed wider. Finding ways to bridge that chasm remains one of this nation’s greatest economic challenges.
The CalPERS headquarters in Sacramento. (Photo: Kit Leong, via Shutterstock)
Once CalPERS could shrug off low funding and rising employer costs as just another downturn, staying the course in the long-term strategy of getting most of its money from market investments that go up and down. This time is different.
CalPERS headquarters, downtown Sacramento. (Photo: CalPERS)
The new CalPERS president, Priya Mathur, lost her board seat this week, defeated by a Corona police sergeant, Jason Perez, who wants to shift the $360 billion investment fund toward higher yields that secure pensions with less focus on social issues. Mathur, a Bay Area Rapid Transit District analyst serving on the board since 2002, rose to the leadership post in January.