Private Sector Workers Hopping Into the CalPERS Pool?

Governor Schwarzenegger and Assemblyman Kevin de Leon have unveiled a plan that would allow CalPERS, the largest pension fund in the United States, to administer individual retirement accounts (IRA's).  Get the dry details from Reuters here, or a more insidery piece from John Hill in the Bee here.

Meanwhile, Assemblyman Albert Torrico has withdrawn a bill that would have prevented CalPERS and CalSTERS from making new investments in private-equity firms "partly owned by foreign governments with weak records on human rights."  The Bee covers that one here.