June 12, 2012
External Affairs Branch
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
CalPERS CIO Joe Dear Elected Chair of SEC Investor Advisory Committee
SACRAMENTO, CA – The California Public Employees’ Retirement System’s (CalPERS) Chief Investment Officer Joe Dear was today elected to Chair the U.S. Securities and Exchange Commission’s (SEC) newly formed Investor Advisory Committee.
“I’m deeply honored to have been selected for this critical leadership role,” said Dear. “This committee will give a strong voice to investors on financial and regulatory matters. Investor input is important to making sure that we don’t forget the painful lessons we learned from the recent financial crisis.”
The Investor Advisory Committee was created by the SEC in April, and appointments were made by SEC Chair Mary L. Schapiro. CalPERS joined 21 other organizations, including Anne Sheehan, Director of Corporate Governance for the California State Teachers' Retirement System, and Ann Yerger, Executive Director of the Council of Institutional Investors.
“Joe’s knowledge and experience will be a great asset as the Investor Advisory Committee works on its agenda to protect investors and promote fair and efficient markets,” said Anne Stausboll, CalPERS Chief Executive Officer.
The committee was established under 2010’s Dodd-Frank Wall Street Reform and Consumer Protection Act. It is charged with advising the SEC on regulatory priorities; the regulation of securities, trading strategies and fee structures; the effectiveness of disclosure; and initiatives to protect investors and promote confidence in the financial markets.
CalPERS is the nation’s largest public pension fund with approximately $226 billion in assets, providing retirement benefits to more than 1.6 million State, public school, and local public agency employees, retirees, and their families, and health benefits to more than 1.3 million members. The average CalPERS pension is $2,332 per month. The average benefit for those who retired in the most recent fiscal year that ended June 30, 2011, is $3,065 per month. For more information about CalPERS, visit www.calpers.ca.gov.