There's no place for politics in public employee pensions, says CalPERS CEO

[@briandavis849]

🤣 yeah right. see how they select managers for these things. ESG is underperforming investment and otherwise just criminal manipulation.

[@bps7209]

BINGO

[@kylesmith8128]

Most ESG has nothing to do with the kinds of things people think it does.

[@briandavis849]

@@kylesmith8128 baloney

[@aaronc4724]

If it is not political, stop givening money for political campaigns. Then force them make up the difference when numbers aren't met.

[@Announcement2024]

Heard someone say the best season for a fin.ancial breakthrough is now, especially with inflation running at a four-decade high. I have approximately $750k stagnant in my port_folio that needs growth. What is the best way to take advantage of this downturn?

[@williamrobertson6380]

That’s right! Downturns provide plenty of opportunities for regular people to build wealth from the scratch. However, you may need to get some professional advice from an Invest-ment planner if you need an aggressive return

[@fabiohill14]

@janetburch5789 Please can you leave the info of your invstment analyst here? I overheard someone talking about how a couple made $200k during this red season. I need such luck

[@glockonr]

I don't know how much growth you are looking for but "bond funds" paying monthly dividends could yield over $4,000 dollars per month. Maybe Vanguards High yield corporate bond fund, VWEAX

[@NetAgent]

ESG it literally the peak of political manipulation. It's very biased in a single direction which is entirely against traditional American values.

[@teebone2157]

Government needs to stop backing corporations and start caring for citizems

[@glockonr]

There is no place in state or federal government, or public service for defined benefit retirement plans. Taxpayers can't afford to keep bailing the public service sector every freak'n year. The 90% in the private sector did not take the public sector to raise or or agree finance them as wards of the state when they no longer want to work for a living.

[@glockonr]

Keep politics out of it? Keep the private sector tax dollars out of it.

[@bps7209]

I don't know about you, but I'm tired of bailing out pensions. No one but myself helps fund my retirement.

[@seanmcmenamin788]

PERS wouldn't need bailing out of they were allowed by CA to invest in what made money rather than divesting due to political stances of companies or the state they are based in, or what they sell. I paid MY money into PERS; I have a stake, yet there is no way for me to direct that money into investments that put making money over politics. If a private fund did that, they would be prosecuted

[@kylesmith8128]

@@seanmcmenamin788 Sounds like State politics. CA does lots of stupid stuff for ideological reasons.....like what far-right farmers are doing to the water table, and what far-left property magnates are doing to home prices in various parts of the state. On the other hand, lots of important health initiatives have come out of CA which prevented babies from ingesting cancer-causing chemicals. CA shows an example to the rest of the nation - both good and bad.

[@robertruschak7083]

California looking to steal more of tax payers money to fund the insolvent 6 figure golden pension funds 😳🤯😮😲😯

[@colyrusvenia3970]

I feel bad for the hard working poor and middle class of california, who must pay extra to make up for the pension shortfall. California cannot tax the corporations higher because they are all moving to Texas and Arizona. The only other option is to somehow generate higher than 7% return. But with increase in interest rate hammering private equities, good luck…

[@lukereamer5689]

CalPers returns have been pathetic for years. Far below the S&P 500 average. The State Legislature has to make up the difference annually so the retirees can get their checks. Terrible deal for the good taxpayers of California.

[@jdeam861]

unless you're both a taxpayer and a California State retiree.

[@jum5238]

When I was elected to a special district board, more and more of our budget went to making up shortfalls in Calpers returns. That means less in terms of services our tax dollars went to.

[@rajbanwait325]

WHAT'S A JOKE...

[@snort455]

Youre not divesting oil invesments? What about selling off Exxon because of ESG?

[@mid-classvssup-rich6080]

ARKK, TRAVEL & EV STOCKS -- SHORT SQUEEZE 1st: Uptrend, 2nd: Short-Squeeze & 3rd: A big drop. That's what gonna happen So you can be part of it or stay away.

[@altaccount8749]

They should just invest into sp500 fund.

[@davidlee50]

I have a CalPers official that stole money from my mothers trust fund . Insecure SOB he is. Ongoing send Internal Affairs.