NBC News: CalPERS, Nation's Largest Public Pension, Faces Retiree Funded Probe

News on our upcoming participant-funded forensic investigation into the half-trillion pension's investments, fees and performance.

Concerned CalPERS stakeholders, including participants and taxpayers, have commissioned an independent investigation into the nation’s largest public pension by a expert of their own choosing.

California public pension fund, the nation's largest, faces probe launched by concerned retirees

By Gretchen Morgenson, NBC News

A forensic pension investigator was hired to provide clarity about the fund’s investments, the high fees it pays to big Wall Street firms and its lagging performance.

Retirement anxiety looms large for the California Public Employees’ Retirement System's 2.3 million members.

In recent years, the handling of the nation’s largest public pension fund has caused growing alarm among a group of retirees who rely on it.

They have sought an outside audit of California’s $530 billion pension fund, known as the California Public Employees’ Retirement System, or CalPERS. They have also tried to persuade legislators to install an inspector general to monitor its operations.

Both efforts went nowhere. Now, they’ve decided to take matters into their own hands.

The retired public employees are taking the unusual step of hiring a forensic pension investigator to provide clarity on the fund’s investments, the high fees it is paying to big Wall Street firms and its lagging performance.

To read the entire article click here.

To view the CalPERS GoFundMe click here.