Nation: State’s Public Pensions May Face SEC Investigation
California's public employee pension accounts -- CalPERS, CalSTRS and the UC retirement system -- might face a Securities and Exchange Commission investigation into whether the state misled investors through legislation that affected the pensions' funds, former Assembly member Joe Nation (D) writes in a San Francisco Chronicle opinion piece. Citing a recent case involving pension funds in New Jersey, Nation, who is currently a professor of public policy at Stanford University, writes that California could face similar fraud charges.
- "Could SEC Target California for Pension Fraud?" (Nation, San Francisco Chronicle, 9/1).