Letter from Jason Perez who is running for CalPERS
There’s a very important election in progress that will very much affect each of us.
This election isn’t for the Congress, governor, or city council – it’s for the CalPERS Board of Administration. The outcome of this election could impact our retirements!
CalPERS is in trouble and has been for many years. Not too long ago, CalPERS was 108% funded. Today, our pension fund is down to about 70%. The CalPERS Board has been divesting from specific investments based upon Sacramento political views. In this bull market, they should have done three times the 8.6% return they received this year. I was surprised to learn that there is not a police officer on the CalPERS Board looking out for our interest.
Our representative on the CalPERS Board, Priya Mathur, was there the entire time and did nothing to protect our retirements. Instead, she used our money to live the lifestyle of the rich and famous, traveling around the world with trips to New York City and London at our expense.
If we are going to save our pensions, then we need to turn CalPERS around. But that won’t happen if Priya Mathur remains on the CalPERS Board.
Fortunately, a well-qualified candidate is challenging Priya in this election. His name is Jason Perez. He is a sergeant with the Corona Police Department and currently serves as the President of the Corona Police Officers’ Association.
Jason Perez has a common sense three-point plan to get CalPERS back on track and to secure our retirements.
- Use Proven Investment Strategies. The number one priority of CalPERS needs to be once again maximizing our retirement fund’s rate of return, not the politically correct policies that return less for our money and is jeopardizing our pensions.
- Have a Professional Investment Team. CalPERS needs to have the best in-house team to invest and manage our assets. An emphasis must be put on recruiting and retaining the best people and prevent them from being hired away by big Wall Street firms.
- Renegotiate Wall Street Contract. In some cases, CalPERS pays up to five times more than the current market rate to have Wall Street firms to invest its funds. These contracts need to be renegotiated to end the gouging of our pension fund by Wall Street.
It is clearly time for new leadership at CalPERS, leadership that will fight to protect our pensions and secure our future retirements. That’s why we need Jason Perez on the CalPERS Board.
We NEED to VOTE for Change. Please SHARE his message among your colleagues, friends, and on social media.
The election period is the entire month of September, and you can vote three different ways; mail-in ballot, over the phone, and online. Didn’t get a ballot in the mail or you want to vote easier? No problem, call 1-888-492-4763 and provide some basic identifying information. Once your identity is confirmed, you will be issued a PIN which you can use over the phone or online.
When you receive your CalPERS ballot, I hope you will vote for this reasonable, common-sense plan that can make our retirement system healthy again. I encourage you to cast your vote for Jason Perez for CalPERS Board.