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Making Your Career Decision….

Making Your Career Decision…. Is CalPERS the place for you?. Who is CalPERS?. Established in 1932; California State agency; Advances the financial and health security of members; Largest pension fund in the U.S. with over $200 billion in assets; 3 rd largest pension fund in the world; and

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Making Your Career Decision….

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  1. Making Your Career Decision…. Is CalPERS the place for you?

  2. Who is CalPERS? • Established in 1932; • California State agency; • Advances the financial and health security of members; • Largest pension fund in the U.S. with over $200 billion in assets; • 3rd largest pension fund in the world; and • Governed by a 13 member Board of Directors: including the State Treasurer and Controller.

  3. Luxury of State Worker Retirement • Defined benefit retirement plan; • Formula based plan; • Of the nation’s largest 100 companies, just 37 currently offered a traditional plan, down from 50 in 2002, and 89 in 1985; • Example: IBM, HP, Verizon, Motorola, & Sears all froze their traditional pensions due to the risk and expense in providing lifetime pensions.

  4. Responsibility of CalPERS’ Investment Office to Protect Retirement Fund

  5. Opportunities for Passionate Individuals in the Investment Office • Currency • Private Equity • Fixed Income • Real Estate • Corporate Governance • Alternative Investments • Active External Manager Oversight • Other

  6. Compensation - Duties - Process • Start off around $3000 to $5000 a month; • Definition of position; • Minimum qualifications; • State test; • Named to the “List”; and then happily…. • Apply for open positions.

  7. Working in the Corporate Governance Dept. • What is Corporate Governance? • “Good Corporate Governance” is linked to a premium in the stock price.

  8. CalPERS’ Corp Gov Programs Designed to Make $$ & Protect Assets • Targeted Focus List • Active Investment Strategy • Proxy Voting • Education & Influence

  9. Important Corporate Governance Issues Facing Corporations • Director Oversight & Accountability • Integrity of Financial Reporting • Fairness of Executive Compensation • Environmental • Public Trust

  10. Corp Gov Initiatives at CalPERS- Impacts the Market through the Press • “CalPERS Criticizes Six Companies” Wall Street Journal; 4/20/06 (also published in the Sacramento Bee) • “CalPERS to Devote $5 Bln to Governance Investing” Reuters News; 9/14/06 • “With Links to Home Depot Board, Chief Saw Pay Soar As Stock Fell” New York Times; 5/24/06

  11. Skills to Develop to be Successful in an Investment Office Think of the classes you need to enroll in or the classes you are currently taking as we go through these…. Quantitative and Qualitative : • Financial Statement Analysis • Strategy • Statistics • Spreadsheets • Writing • Presentations * Int’l Collegiate Business Policy Competition: Professor Arthur Jensen, Professor of Marketing *

  12. Good Luck To You All Bridgette Butler, Investment Officer @ CalPERS Alumni of CSU, Sacramento Special thanks to Professor Ahmadi

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