Opinion
Divestiture politics roils pensions, investments
Digitally tracking the performance of investment products in the bond market. (Illustration: Vintage Tone, via Shutterstock) OPINION: Thanks to Assembly Bill 33, introduced by State Assemblyman Rob Bonta, the California State Legislature will spend time and resources to codify an issue that California pensioners have spoken on before: divesting from high-performing funds for political purposes.AB 33, as written, would require that state retirement systems, namely California Public Employees Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS), divest of all investments in private corrections companies and disallow investing in those same companies in the future.