By one estimate, CalPERS has missed out on $3 billion in financial returns by refusing to buy tobacco stocks. But the pension giant decided Monday to stick with the ban despite a recommendation from its staff that the ban be relaxed. Dale Kasler The Sacramento Bee
By one estimate, CalPERS has missed out on $3 billion in financial returns by refusing to buy tobacco stocks. But the pension giant decided Monday to stick with the ban despite a recommendation from its staff that the ban be relaxed. Dale Kasler The Sacramento Bee
Dan Walters

Dan Walters

Observations on California and its politics

Dan Walters

January 02, 2017 12:01 AM

Reality penetrates California’s public employee pension system, but not far enough

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Dan Walters' column appears in dozens of California newspapers. He joined the Sacramento Union’s Capitol bureau in 1975 and in 1981 began writing the state’s only daily newspaper column devoted to California political, economic and social events. He and the column moved to The Sacramento Bee in 1984. Contact him at dwalters@sacbee.com or 916-321-1195. Twitter: @WaltersBee

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