The $98 billion California Public Employees' Retirement System...

The $98 billion California Public Employees' Retirement System, Sacramento, plans to evaluate company layoffs next proxy season. Richard H. Koppes, deputy executive officer and general counsel, said the giant pension fund plans on ensuring in the next annual meeting season that corporate directors are satisfied a company's layoffs are needed to meet long-term strategic goals, and not prompted by short-term efforts to increase stock prices.