PE Manager, a pension fund industry publication, has reported that CalSTRS investment staff has sent a "strongly worded" letter of support to their CalPERS counterparts, who have come under scrutiny by the Fair Political Practices Commission for gift reporting records discrepancies.
Many public pension investment employees have complained that they're being made scapegoats for real and imagined sins by their employers.
For instance, Controller John Chiang has proposed legislation that would cut the value of gifts that they can receive from $420 per person or business to $50. Another Chiang bill would set new limits on the funds' board members and employees after they sever ties with either organization.
There's the FPPC investigation. And there's the taint of an influence-peddling scandal that has damaged morale at CalPERS in particular.
Click here for the PE Manager piece.