CalPERS headquarters, Sacramento. (Photo: Wikipedia)
Calpensions: Three years ago CalPERS investment earnings hit bottom in a Wilshire consultants report that ranks the performance of big pension funds — dead last among its peers over the previous five years. Last week a new Wilshire report showed CalPERS investment earnings steadily climbing up the ranks, finishing in the top quarter of big pension funds during the last three years.
OPINION: Rather than focusing our attention on creating uber districts with special powers or buttressing the powers of cities and counties so they can manage groundwater, it would be better to focus our attention on some of the causes for our present failures and direct our efforts to giving local stakeholders the tools to complete the task.