Institutional Investors

CalPERS demands agent disclosures


The $221 billion California Public Employees’ Retirement System will now require contractors to disclose whether or not they are using an agent to seek business with them.

The largest US public pension fund, which administers retirement benefits for more than 1.6 million active and retired State, public school, and local public agency employees and their families, also voted to require contractors to disclose how much they paid the agent in fees and whether they have financial or familial relationships with current or former board members.

Contractors must also generally identify payments, gifts, loans and other items of value