Pension Fund Hypocrisy

The nation's two largest pension funds, the California Public Employees' Retirement System and the California State Teachers' Retirement System, have been plagued by myriad fiscal problems and even a corruption scandal in the case of CalPERS, and yet these systems continue to lecture the private sector on ethical corporate governance. The latest nonsense, released recently, is a project funded by the two systems to promote "diversity" in board rooms.