The State Worker

Navigate CalPERS' complexity through 6 pivotal stories on strategy and leadership

Stories by Sacramento Bee journalists, with AI summarization

The curated articles share a focus on the complexities of managing the California Public Employees’ Retirement System (CalPERS), particularly around investment strategies, board elections, and climate initiatives. Articles touch on different aspects that influence decision-making, governance, and financial policy, which parallel the discussions around state workers returning to offices post-pandemic.

An article details how a retiree group independently investigates CalPERS regarding private equity fees and transparency issues. Another reports CalPERS' progress on climate investments, aiming to reach $100 billion by 2030. A separate piece describes board election outcomes, highlighting new leadership dynamics and campaign support strategies. Lastly, an article discusses CalPERS considering the Total Portfolio Approach, a strategy to improve returns through collaborative asset management.

Incumbent CalPERS board candidate David Miller answers a question during a candidate forum at CalPERS headquarters in Sacramento on Wednesday, Sept. 3, 2025. By JOSÉ LUIS VILLEGAS

NO. 1: CALPERS MEMBERS VOTED IN AN EXPENSIVE BOARD ELECTION. HERE’S WHO WON

Two-time incumbent David Miller defended his seat on the CalPERS Board of Administration from two challengers, Santa Monica fire Captain Dominick Bei and former Pasadena city manager Steve Mermell, according to CalPERS election results released Thursday. | Published October 2, 2025 | Read Full Story by William Melhado

The California Public Employees’ Retirement System, or CalPERS, headquarters buildings are photographed Thursday, Sept. 16, 2021, in downtown Sacramento. By Xavier Mascareñas

NO. 2: CALIFORNIA RETIREE GROUP LAUNCHES INDEPENDENT INVESTIGATION INTO CALPERS

A group of California retirees has officially launched an independent investigation into the country’s largest public pension system over concerns with its investment practices and commitment to transparency. | Published October 21, 2025 | Read Full Story by William Melhado

The California Public Employees’ Retirement System, or CalPERS, headquarters buildings in downtown Sacramento are photographed on Sept. 16, 2021. By Xavier Mascareñas

NO. 3: CALPERS IS GROWING RENEWABLE ENERGY PORTFOLIO DESPITE GOVERNMENT PULLBACK | OPINION

At the California Public Employees’ Retirement System, our job is to make investments that reliably produce the best returns for our $556-billion fund, which provides retirement security for more than 2.3 million active and retired state and local employees. | Published November 10, 2025 | Read Full Story by Marcie Frost

CalPERS Chief Investment Officer Stephen Gilmore discussed the Total Portfolio Approach and its benefits to employees on the deck outside his office in Sacramento on Monday, Nov. 10, 2025. By RENÉE C. BYER

NO. 4: CALPERS IS CONSIDERING ADOPTING A NEW INVESTMENT STRATEGY. WHAT IS IT?

Every four years, California’s largest public pension fund undertakes a reevaluation process to balance its anticipated investment returns with the expected cost of benefits paid to retirees. | Published November 11, 2025 | Read Full Story by William Melhado

Most cities are members of the California Public Employees’ Retirement System and are struggling to keep up with rising pension payments.

NO. 5: CALPERS EXPANDS CLIMATE INVESTMENTS. SOME GROUPS WANT MORE TRANSPARENCY

In the two years since it made the substantial pledge to invest $100 billion in climate solutions by 2030, California’s largest pension fund revealed last week that it is 60% of the way towards reaching that goal. | Published November 13, 2025 | Read Full Story by William Melhado

A group of protesters known as the “Climate Lamentors” stand in front of the CalPERS board of administration during an investment committee meeting on Monday, Nov. 17, urging the board to divest from fossil fuel companies. By William Melhado

NO. 6: CALPERS ISN’T DIVESTING FROM FOSSIL FUELS, BUT CLIMATE ACTIVISTS KEEP PUSHING

Year after year, various groups have petitioned the state’s largest pension system to divest its billions of dollars from fossil fuel companies as the consequences of climate change continue to impact California. | Published November 18, 2025 | Read Full Story by William Melhado

The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.