CalPERS says divesting from border wall, Dakota pipeline could hurt taxpayers
Leaders at CalPERS are voicing concerns about a set of bills in the Legislature that would compel that $310 billion pension fund to divest from politically unpopular projects, such as President Donald Trump’s proposed border wall and the Dakota Access Pipeline.
Two of CalPERS’ top officers visited The Sacramento Bee Editorial Board on Tuesday to reiterate their worry that divesting from companies could hurt taxpayers and surrender the pension fund’s vote as a major investor.
“When you divest, you basically take our voice out of the debate,” said CalPERS Chief Operating Investment Officer Wylie Tollette.
The California Public Employees’ Retirement System is watching three bills that could force it and the California State Teachers’ Retirement System to shed certain investments.
Read more here: http://www.sacbee.com/news/politics-government/the-state-worker/article144047384.html