Cooley Legislation to Bring Transparency to Public Pension Fund Fees

Wednesday, June 1, 2016

(Sacramento) - Assemblyman Ken Cooley’s Assembly Bill 2833, sponsored by State Treasurer John Chiang, creates greater transparency and accountability by requiring all public pension funds to publicly disclose the various fees paid to their private equity general partners, hedge fund partners, and other alternative investment partners on an annual basis.  “Pensions are the flywheel in the American economy – when the economy takes a dive, their payments keep our nation’s economic engine spinning to help recovery,” said Assemblyman Ken Cooley during a news conference at the State Capitol with Treasurer Chiang. “It’s important that we strengthen our pensions and a part of that is ensuring that the pension investments are stable, sound, and providing the returns in financially responsible way.” Here’s more in his Assembly Access video.