The California Public Employees' Retirement System today announced that Yu Ben Meng has been selected as the pension fund's new chief investment officer (CIO). Meng is returning to CalPERS to assume the CIO role and will report to CalPERS chief executive officer Marcie Frost. "We are so pleased to welcome Ben back to CalPERS," Frost said. "Ben's strong investment background makes him well-suited to lead our investment strategy. He understands the need to drive investment returns to help us achieve a fully funded system."