CalSTRS in 2008 adopted 21 risk factors that discourage – but don't forbid – the fund from investing in companies that disregard human rights, make products that are "detrimental to human health" and so on. Steering away from controversial investments can be costly. Consultants have concluded, for example, that CalSTRS and CalPERS have lost hundreds of millions of dollars by dumping tobacco stocks.
Though Texas has rightly earned kudos for its balanced budgets and its high-powered,...
Our tax system has three fundamental weaknesses: (1) marginal tax rates are too high; (2) the...
The fundamental question raised by the IRS scandal isn't whether Obama ordered, or even knew of,...
Adjustable pension plans (APPs) guarantee lifetime payments to employees. But unlike traditional ...