CALIFORNIA BUSINESS MINUTE
Funding Infrastructure
09-14-11
Hi, I am Tim Johnson and welcome to the California Business Minute.
The California Public Employees Retirement System, the largest U.S. public pension
plan, agreed to spend more of its money on infrastructure in the state.
The fund’s 13-member board voted today to invest up to $800 million in public and
private projects involving transportation, energy, natural resources, utilities,
water and communications in California during the next three years.
“We are prepared to increase our investments in infrastructure with our first and
foremost goal being on investment returns, and a secondary goal of supporting
essential community services that are crucial to continued economic development,
a safe environment and healthy schools and communities,” Rob Feckner, the board’s
president, said in a statement.
CalPERS' investment staff is expected to bring an outreach and implementation plan
to the fund's investment committee next month.
I am Tim Johnson and this has been the California Business Minute.
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