Michael Flaherman, who has drawn attention to hidden fees that investment funds pass on to public pensions, is running for a seat on the CalPERS Board of Administration. He served on the board between 1995 and 2003, before he launched a career in private equity.
Michael Flaherman, who has drawn attention to hidden fees that investment funds pass on to public pensions, is running for a seat on the CalPERS Board of Administration. He served on the board between 1995 and 2003, before he launched a career in private equity. Photo courtesy of Michael Flaherman
Michael Flaherman, who has drawn attention to hidden fees that investment funds pass on to public pensions, is running for a seat on the CalPERS Board of Administration. He served on the board between 1995 and 2003, before he launched a career in private equity. Photo courtesy of Michael Flaherman

The State Worker

Chronicling civil-service life for California state workers

Can an investment pro persuade state workers to let him manage their pensions?

August 14, 2017 06:30 AM

UPDATED August 14, 2017 12:23 PM

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The Sacramento Bee launched The State Worker blog in 2008 to cover state government from the perspective of California government employees. Every day The Bee filters the news through a single question: "What does this mean for state workers?" Subscribe to alerts on state pay, benefits, pensions, contracts and jobs at sacbee.com/newsletters. Twitter: @TheStateWorker.