California News

California Treasurer Wants Investigation Into Hiring of CalPERS CEO

Sacramento Bee-

California State Treasurer John Chiang on Wednesday called for an independent investigation into the hiring of CalPERS Chief Executive Officer Marcie Frost to resolve questions about whether she misinformed the $360 billion pension fund when she applied for her job.

Chiang stressed in announcing his call for an investigation that he has a “favorable opinion” of Frost. He worries, he says, that the questions about Frost will discredit the pension fund if they are not addressed in a manner that restores public trust.

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