A bill signed on Sunday now allows a position of CFO to be created at the $217.1 billion California Public Employees’ Retirement System (CalPERS), Pensions & Investments reports. Interim assistant executive officer of CalPERS’ administrative services branch Russell Fong was appointed acting CFO on April 4. The board will now initiate a search to fill the CFO position. The legislation has also set a 10-year threshold for board members and some staff members at the retirement system and the $146.6 billion California State Teachers’ Retirement System looking to take up placement assignments.
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