President of nation's largest public pension fund unseated
The president of the nation's largest public pension fund was unseated by a critic who says fund directors are attempting too much social investment at the expense of pensioners.
Corona police officer Jason Perez defeated San Francisco Bay Area mass transit financial analyst Priya Mathur who is a 15-year member of the California Public Employees' Retirement System's Board of Administration.
The Sacramento Bee reported Perez received 9,208 votes while Mathur received 7,008. It was Perez's first run for the board. He's said he worries about the $360 billion pension fund and wants it to concentrate on maximizing returns from its investments.
The system has enough money to cover roughly 70 percent of the money it owes to 1.8 million members.