Benefits & Executive Compensation News

Calpers Responds to Lawmaker Who Blasted China Holdings (1)

Feb. 20, 2020, 6:32 PM

The head of the California Public Employees’ Retirement System defended holdings of Chinese companies in a letter to the lawmaker who had called for the ouster of the pension giant’s chief investment officer and raised questions about potential national security risks.

“It is regrettable that your office did not contact Calpers to check the facts before publishing baseless accusations,” Chief Executive Officer Marcie Frost said in the letter to U.S. Representative Jim Banks, a Republican from Indiana.

The dispute comes amid ongoing trade tensions and concerns that U.S. investments in the world’s second-largest economy are supporting a strategic rival. Calpers,...

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