The State Worker has received a copy of the in-house e-mail from CalPERS CEO Anne Stausboll that comments on corruption allegations detailed in a commissioned report that the fund released late Monday. We're reprinting it here:
From: CEO Mailbox
Sent: Monday, March 14, 2011 6:04 PM
To: Exchange Users, HQ; Exchange Users, Regional Offices
Subject: Placement Agent Report
At 6 pm today (Monday), the CalPERS Board of Administration released the report conducted by outside experts on the activities of placement agents. The Board will be discussing this report in open session tomorrow. A full copy of the report can be found at http://www.calpers.ca.gov/index.jsp?bc=/about/board-cal-agenda/agendas/full/home.xml
The delivery of this report represents the culmination of months of hard work by our staff and the Board. We have asked some very difficult questions during this period, and we have faced what seemed to be insurmountable challenges. However, the mission that our organization was founded on nearly 80 years ago, along with our core values, has kept us laser focused to get to this day.
Although it is difficult to learn of the apparent misconduct of some of the former officials, the issuance of this report is a turning point for our organization. This day serves as a reminder about how far we have come to strengthen our accountability, ethics and transparency. We have already taken numerous remedial actions, and we are continuing to learn from the situation and make the changes necessary to restore trust and confidence in the system.
CalPERS is a special place for all of us and those we serve. I am proud to be part of this organization and have the utmost confidence in staff's dedication to our members.
Anne Stausboll | Chief Executive Officer | CalPERS Executive Office