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Walters Column Bungled Key Facts | Letters To The Editor

by napavalleyregister.com posted 6months ago 69 views
Dan Walters’ recent column ("CalPERS' new investment plan -- wise or risky?" NapaValleyRegister.com, June 2) clearly demonstrates he’s not interested in facts or moving on from a fixation of CalPERS’ past. Walters correctly notes that CalPERS is working to reduce the unfunded liability, including looking at innovative ways to increase investment returns. But he’s wrong about our private equity investments. Private equity has been the single largest source of income for CalPERS since the program began in the 1990s, contributing more than $30 billion to the fund after fees.