McRitchie Petitions CalPERS to Limit Abuses

Released on = September 18, 2006, 9:35 pm

Press Release Author =

Industry = Government

Press Release Summary = McRitchie files to ensure against any perception that gifts
or contributions are rewarded by access or that CalPERS does not live up to its own
governance standards.

Press Release Body = CalPERS candidate James McRitchie petitioned the CalPERS Board
on September 18 to adopt regulations similar to those proposed by CalSTRS limiting
gifts and campaign contributions. Additionally, the petition requests CalPERS to
require board members to comply with the same governance standards they attempt to
impose on corporate boards.

For example, CalPERS prefers corporate directors serve on no more than 6 other
company boards. Yet, according to recent filings with the Fair Political Practices
Commission, one CalPERS director also sits on the board of 13 mutual funds.

"By enacting regulations at least as stringent as those announced by CalSTRS and by
complying with the governance standards it seeks to impose on others, CalPERS can
ensure against any perception that gifts or campaign contributions will be rewarded
by access to the nation\'s largest pension fund or that CalPERS does not live up to
its own standards," said Mr. McRitchie.

Web Site =

Contact Details = James McRitchie
CalPERS Board Candidate
9295 Yorkship Court
Elk Grove, CA 95758
916.869.2402 (cell)

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