California Public Employees’ Retirement System
CalPERS A major institutional investor. Based in Sacramento, CA, CalPERS is the largest public pension fund and retirement system in the United States. Founded in 1932 as the State Employees’ Retirement System, it adopted its current name in 1967. The CalPERS Web site stated in 2003 that it provided "retirement and health benefit services to more than 1.3 million members and nearly 2,500 employers." CalPERS is no passive investor; it has made significant contributions to *corporate governance debates. For example, its 1998 Corporate Governance Core Principles and Guidelines address the foundations of *accountability between a *corporation’s managers and owners. The CalPERS Shareowner Forum is intended to "provide an education and communication resource for those interested in the field of corporate governance." Further reading: CalPERS (1998) Web site (CalPERS): www.calpers.ca.gov Web site (CalPERS Shareowner Forum): www.calpers-governance.org

Auditor's dictionary. 2014.

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