CalPERS Responds

Accountability & Ethics



Issues Update


CalPERS Board Toughens Ethics Guidelines
December 29, 2009
The CalPERS Board of Administration has strengthened ethics policies that guide how the fund is governed. At its December meeting, the 13-member Board tightened rules regulating its interaction with CalPERS staff concerning investment proposals and gave the Board President authority to discipline members whose actions violate policy. Board Members also will be required to attend annual training sessions detailing their responsibilities to fund participants and beneficiaries.

The Board’s moves followed a review of its Statement of Governance Principles that began in the fall. Among other things, the principles outline the working relationships between the Board President, Vice President, Committee Chairs, Vice Chairs, Chief Executive Officer and CalPERS staff.

Among the policies approved: Read the full news release.

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Member Comments: 4 comments

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