UCRS

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CalPERS & CalSTRS Profited from Fed’s TALF Program; UCRS Did Not Participate

Byuclafaculty

State pension funds reaped rewards from Fed loan program (excerpt) Dec. 3, 2010, Dale Kasler, Sacramento Bee CalPERS was among the big winners in an obscure Federal Reserve loan program aimed at rescuing the nation’s troubled credit markets last year. The state’s other big pension fund, CalSTRS, also participated in the program, but to a much smaller degree, according to records released this week by the Federal Reserve. …(T)hey and other big investors took advantage of a $70 billion Federal Reserve loan program designed to pump money into the consumer and business lending markets. CalPERS, in fact, was among the…

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Governor’s Pension Symposium of July 8

Byuclafaculty

Governor Schwarzenegger ran a public pension symposium on July 8. It was essentially a panel of academics, legislators and former legislators (including former assembly speaker Willie Brown), local officials, past CalPERS members, and academics. You can see a video of the roughly 1-hour symposium by going to the governor’s website: www.gov.ca.gov and clicking on “multimedia.” The symposium concentrated on CalPERS and, to a lesser extent, CalSTRS. UCRS was mentioned in passing at roughly minute 39, but was not explicitly discussed. In particular, the important $2-for-$1 issue that separates UCRS from other public pensions in California was not discussed. (Approximately $2…