CalPERS board members plan to take disciplinary action against a fellow board member, Priya Mathur, on Wednesday.
At Monday's meeting of the California Public Employees' Retirement System's investment committee, Rob Feckner, chairman of the board of the $209.1 billion system, announced that action would be taken against Ms. Mathur for failing to file financial disclosure forms in a timely fashion.
The California Fair Political Practices Commission last week fined Ms. Mathur $4,000 for missing the deadline for filing her 2008 form by nine months. The documents are supposed to be filed by March 3 of each year.
This is the third time since 2002 that she has been fined for missing the filing deadline for the forms, which require disclosure of gifts worth more than $50 and other economic interests, Mr. Feckner said.
In April, Ms. Mathur was fined $3,000 by the commission for failing to file her 2007 financial statement on time.
Mr. Feckner would not discuss what the board would do at Wednesday's meeting, but he said possibilities could range from suspension to censure. He said the board does not have the authority to remove her from her post. Ms. Mathur, who works as a fiscal analyst for the Bay Area Rapid Transit District, was unavailable for comment.
The charges against Ms. Mathur come at a particularly sensitive time for CalPERS. Former officials of the state retirement system have been charged in a California state civil suit with influencing millions of dollars in CalPERS investment decisions.