By Penelope Lemov, Governing.com
CalPERS is a very big fish. When California's $250 billion employee pension plan flexes its muscle in boardrooms, corporate CEOs sit up and take notice. When it dumps stocks from countries with morally offensive policies, leaders of those nations hear about it.
None of the other public employee pension plans in this country has quite that much clout. But quite a few are starting to gain some. "Public pension plans were for decades sleepy things that nobody paid attention to," says Beth Almeida, executive director of the National Institute of Retirement Security. But in recent years, these funds have grown to some $3 trillion in value. "Obviously, with an investment that large," Almeida says, "they become a focus."
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