Retired Public Employees’ Association of California Launches Landmark Crowdfunding Campaign to Investigate Alleged CalPERS Financial Mismanagement
Sacramento, CA – July 9, 2025 – The Retired Public Employees’ Association of California (RPEA) has initiated a groundbreaking crowdfunding campaign, inviting public participation to fund a comprehensive investigation into alleged financial mismanagement within the California Public Employees’ Retirement System (CalPERS). This initiative marks a significant effort by retired public servants to ensure the integrity and long-term solvency of their retirement funds.
The RPEA, representing a substantial number of California’s retired public employees, has voiced serious concerns regarding certain investment strategies and operational practices within CalPERS. While specific details of the alleged mismanagement are to be the subject of the proposed investigation, the association emphasizes its commitment to transparency and accountability for the billions of dollars entrusted to CalPERS by its members.
This crowdfunding effort is designed to provide independent and objective scrutiny, allowing for a thorough examination of CalPERS’ financial dealings. The RPEA believes that public involvement in this process is crucial for fostering trust and ensuring that the retirement security of all members is safeguarded.
“Our members have dedicated their careers to serving the people of California,” stated a spokesperson for the RPEA. “It is imperative that the system designed to provide for their retirement is managed with the utmost prudence and integrity. This crowdfunding campaign is a testament to our members’ determination to hold CalPERS accountable and to protect their hard-earned benefits.”
The funds raised through this campaign will be used to engage independent financial experts, legal counsel, and forensic accountants who will conduct a detailed review of CalPERS’ investment performance, asset allocation, administrative costs, and any other relevant financial matters. The goal is to identify any potential irregularities or instances of mismanagement and to provide a clear, fact-based report to both CalPERS leadership and its members.
The RPEA has expressed its desire for a collaborative approach with CalPERS, emphasizing that the investigation is aimed at strengthening the system for all stakeholders, rather than solely seeking to assign blame. The association hopes that the findings of the independent investigation will lead to enhanced governance, improved financial practices, and ultimately, greater confidence in the future of the CalPERS system.
This landmark crowdfunding initiative underscores the growing trend of citizen-led oversight in public administration. The RPEA is hopeful that this endeavor will not only shed light on the specific concerns raised but also serve as a model for public engagement in ensuring responsible stewardship of public funds across the nation.
Further details regarding the crowdfunding campaign and the RPEA’s specific concerns can be found on their official website. The association encourages all concerned citizens and CalPERS members to support this vital investigation.
AI has delivered the news.
The answer to the following question is obtained from Google Gemini.
PR Newswire People Culture published ‘Retired Public Employees’ Association of California: Alleged CalPERS Financial Mismanagement Sparks Landmark Crowdfunding for Investigation’ at 2025-07-09 18:25. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.