Priya Mathur, vice president of CalPERS' board, has been stripped of her title and other leadership positions for violating state financial reporting requirements. She remains on the board.
Another board member, J.J. Jelincic, was publicly reprimanded for questioning the abilities of Ted Eliopoulos, the pension fund's new chief investment officer, in an interview with Pensions & Investments.
The board of the $294.2 billion California Public Employees' Retirement System, Sacramento, took action against Ms. Mathur after the state's Fair Political Practices Commission fined her $4,000 for failing to file campaign finance reports in 2012 and 2103 in her run for the board.
Mr. Jelincic, meanwhile, was quoted in a Sept. 13 P&I story as saying Mr. Eliopoulos, who ran CalPERS' real estate portfolio before becoming CIO, relied too much on the advice of consultants, made the wrong decision to increase CalPERS' exposure to riskier non-core real estate assets before the financial crisis, and played favorites with employees.
In a statement read at a board meeting on Oct. 15, CalPERS board President Rob Feckner called Mr. Jelincic's comments “unfortunate” and a violation of the board policy of “civility and courtesy, as well as a breach of the CalPERS core values.”
Mr. Jelinicic said he would have no comment.
Ms. Mathur said in a statement, “I respectfully acknowledge the decisions made by the FPPC and the CalPERS board and have already paid the fine to the FPPC.”
In addition to serving as vice president, Mr. Mathur was chairwoman of the board's pension and health benefit committee.