In California, both state administrators and treasurers are on the ballot, and both officials serve on the boards of the $426 billion California Civil Service Retirement Plan and the $288.6 billion California Teachers Retirement Plan.
State Secretary Betty Yee has reached the end of her term, leaving Democratic nominee Maria Cohen to face Republican nominee Ranhee Cheng.
In the campaign plan, Cohen said both retirement plans will work to promote a greener future, including pushing for net-zero emissions by 2040.
Mr. Chen said on his campaign website that the two pension funds would “clearly communicate to taxpayers how much they should pay when retirement benefits for current and former civil servants are due.” He criticized Calpers for its funding estimates.
Incumbent Treasury Secretary Fiona Ma is a Democrat who is running for re-election this year against Republican nominee Jack Guerrero.
Guerrero criticized the way the state handled the outstanding debts of both CalPERS and CalSTRS. According to his campaign website, he plans to be more transparent about funding and “protect the country’s assets.”
In September, Ma joined a coalition of 14 fiscal officials across the country criticizing anti-ESG policies passed by Republican officials.
She had previously supported calling on CalPERS to move away from fossil fuels, but a bill requiring both pension funds to do so stopped in June.
Both CalPERS and CalSTRS voted against the bill because they said they would rather work with fossil fuel companies than sell them.
Ma was sued last July by former employees for sexual harassment, racism and unfair dismissal.