Corporate Governance -- Enhancing the Return of Capital Through Increased Accountability
CalPERS to Silence Critics: Hearing to be Scheduled for February 15, 2000

The CalPERS Board is currently in the process of adopting regulations to sharply limit disclosures to members in future elections (see Title 2, section 554.4 for current rules). A public hearing on the proposed regulation will be held on February 15, 2000 at 1:30 pm in the auditorium at 400 P Street in Sacramento. A Sacramento Bee editorial calls the policy self-serving, anti-democratic, chilling and wrong, warning that they "risk creation of a permanent board: unaccountable, untouchable and isolated from the people who elect it." (see CalPERS muzzles critics: Ballot rules protect board, keep others in the dark, Sacramento Bee editorial, 5/24/99 )

To obtain a copy of the rulemaking on candidate statements or to submit comments (deadline is 2/15/2000) contact Judy Daggao, Regulations and Elections Coordinator, CalPERS, PO Box 942702, Sacramento CA 94229-2702. Phone: 916-326-3484. Please also send a copy of your comments to the Board and to me at jm@perswatch.net. Not all the Board members have published e-mail addresses but the following do: bill_crist@calpers.ca.gov, Charles_Valdes@CalPERS.CA.GOV, Ronald_Alvarado@CalPERS.CA.GOV, mflaher@alum.mit.edu, PANGELIDES@TREASURER.CA.GOV, Rob_Feckner@CalPERS.CA.GOV, MARTYMORGENSTERN@DPA.CA.GOV, William_Rosenberg@CalPERS.CA.GOV, Joseph_Thomas@CalPERS.CA.GOV.
It should be noted that Flaherman (who would personally benefit if the rules were enacted), Morgenstern and Angelides oppose the current rulemaking, as does Connell. However, they should still be included in correspondence, so that they are aware of the opposition among members of the System. Also, any motion to consider more positive changes in candidate regulations is likely to come from one of these more progressive Board members.

Willie Brown Jr., the current mayor of San Francisco and former Speaker of the California Assembly, will take the seat on the CalPERS board reserved for a representative of local government. (Sacramento Bee, 1/22/2000) Members concerned with the rulemaking should also include copy him by e-mailing DaMayor@ci.sf.ca.us (yes, he has a sense of humor).

My analysis of the rulemaking on candidate statements (sorry, attachments are not available via internet but are on file with CalPERS):

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Contact: jm@perswatch.net