CalPERS' investment committee on Monday approved dropping its investment policy subcommittee, which reviews all investment policies for the $229.6 billion retirement system, according to Brad Pacheco, system spokesman.
“The review of policies by two committees is redundant and time consuming” because the investment committee and the subcommittee are reviewing the same policy issues, according to an agenda item for the meeting.
The ad hoc subcommittee of the California Public Employees' Retirement System, Sacramento, has six board members and was formed in 1995 to develop investment policies for the retirement system.
