Latest news with #CalPERS
San Francisco Chronicle
16 hours ago
- Health
- San Francisco Chronicle
‘Reckless' Blue Shield move threatens UC Health access, says S.F. City Attorney
San Francisco officials are urging Blue Shield of California to resolve its contract dispute with UC Health, warning that the breakdown threatens access to critical care for thousands of San Francisco city workers and retirees. In a letter sent Thursday to Blue Shield's interim CEO Mike Stuart, City Attorney David Chiu and Supervisor Matt Dorsey urged the insurer to finalize an agreement with UC Health, which includes UCSF Medical Center and its affiliates. Negotiations between the two health care giants have stalled over reimbursement rates, with Blue Shield warning that UC Health plans to terminate the contract on July 10 unless a new deal is reached. The impasse could affect tens of thousands of Californians insured through employer plans, Covered California, CalPERS and Medicare. They cited potential disruptions for roughly 5,000 San Francisco Health Service System members — city employees and retirees — who rely on UCSF providers for essential services, including cancer treatments and specialty care. 'Blue Shield's termination of its relationship with UC Health in the middle of a coverage period is unacceptable,' the letter stated. 'Blue Shield's improvident and reckless position upends the expectations of the members who chose Blue Shield coverage and the City agencies that approved the Blue Shield rates last year.' Dorsey added, 'Here's the bottom line: a large segment of our workforce relied on access to UCSF Health's physicians and services when they chose Blue Shield during open enrollment. For Blue Shield to now materially eliminate these healthcare options — in the middle of a plan year — is, in my view, unfair and potentially a breach of contract.' 'UC Health continues to do our part to negotiate with Blue Shield in hopes of reaching a new, fair agreement to preserve in-network access to UC Health locations without interruptions for Blue Shield of California members,' the UC Office of the President said in a statement this month. The City Attorney's Office is now evaluating legal avenues, signaling that legal action is possible if Blue Shield fails to preserve in-network access to UC Health. 'There is no more time to waste,' the letter emphasized. 'Blue Shield needs to prioritize patient care.'
Newsweek
3 days ago
- Business
- Newsweek
California Laws Changing July 1: From Pet Insurance to Airbnb Cleaning Fees
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Starting July 1, Californians will see sweeping changes in consumer protections, health coverage, rental disclosures, and public service access, as a slate of new state laws go into effect. The new legislation addresses a wide range of everyday concerns—from hidden cleaning fees in rental agreements and the fine print of pet insurance policies to improved access to mental health crisis support for students. Why It Matters These measures are part of an ambitious legislative agenda championed by Governor Gavin Newsom and approved by the state legislature in Sacramento, aiming to boost transparency and health protections while modernizing court systems and educational support services. What To Know One of the most noticeable changes affects short-term rental customers. Under Assembly Bill 2202, platforms like Airbnb must now show all cleaning fees and penalties before a booking is completed. If they don't, they could be fined up to $10,000. The law also targets surprise fees and requires renters to be told about any cleaning tasks expected during their stay. Pet insurance companies must now also clearly explain why premiums go up. Senate Bill 1217 says insurers have to say if rate hikes are due to a pet's age, location, or other reasons. Policies must also spell out waiting periods, medical exam rules and what conditions aren't covered. Another major change affects subscription services. Businesses offering streaming, food delivery, or other subscriptions must now let people cancel just as easily as they signed up. Assembly Bill 2863 enforces a "click-to-cancel" rule and requires annual reminders with pricing and cancellation info. Health insurance in the state is also expanding. Senate Bill 729 requires most plans to cover infertility diagnoses and treatments, including IVF. There are exceptions for religious employers, and public systems like CalPERS won't have to offer the coverage until July 2027. The bill's author, State Senator Caroline Menjivar, has framed it as a win for reproductive rights. California Gov. Gavin Newsom speaks during a press conference on February 01, 2023 in Sacramento, California. California Gov. Gavin Newsom speaks during a press conference on February 01, 2023 in Sacramento, California. Getty Images The state's 5.8 million schoolchildren will see changes come the start of the new school year. Senate Bill 1063 says middle and high school ID cards must show the 988 Suicide and Crisis Lifeline. Schools can also add QR codes that link to local mental health support. Mental health advocates say this gives students easier access to help. There are new rules for students with special needs. Assembly Bill 438 stipulates that schools must start planning for these students' futures when they start high school, not wait until age 16. The goal is to help them better prepare for college or work. Remote court access, which started during the pandemic, is also being extended. Assembly Bill 170 allows juvenile and civil courts to keep holding virtual hearings through 2027. Courtrooms must meet new tech standards, and judges must report any technical issues during criminal cases. The CARE Act, which lets people request court-ordered mental health treatment, is also changing. Senate Bill 42 now says courts must inform family members and first responders when cases are delayed, dismissed, or updated. The goal is to keep people better informed. Finally, minimum wage will go up in several counties and cities across the state. What Happens Next Starting July 1, businesses and service providers affected by the changes—including Airbnb, insurance companies, subscription platforms, and school districts—must comply immediately or face fines and legal challenges.
Bloomberg
18-06-2025
- Business
- Bloomberg
Asset Owners With $9.5 Trillion Call for Stopping Deforestation
A coalition of pension funds and insurance companies holding a combined $9.5 trillion of assets has called on investors to ensure their portfolios aren't supporting or enabling deforestation. The Net-Zero Asset Owner Alliance, whose signatories include Allianz SE and the California Public Employees' Retirement System, said in a report published Wednesday that investors should ensure they have a firm grasp of their exposure to deforestation and take steps to 'phase out' any harms to forests stemming from their investments in commodities such as beef, cocoa and palm oil by 2030.
Yahoo
29-05-2025
- Business
- Yahoo
The Top Holding for CalPERS, America's Largest Public Pension Fund, Is the Closest Thing You'll Find to a Guaranteed Investment on Wall Street
The quarterly filing of Form 13Fs allows investors to see which stocks and exchange-traded funds (ETFs) the brightest money managers and biggest funds have been buying and selling. The California Public Employees' Retirement System (CalPERS) has $143 billion spread across north of 1,100 securities (stocks and ETFs). CalPERS' largest position is a security that's never declined, on a total return basis, over rolling 20-year periods since 1900. 10 stocks we like better than Vanguard S&P 500 ETF › There's nothing more important to investors than data -- and they're rarely, if ever, lacking for it on Wall Street. Between earnings reports, regular U.S. economic data releases, and Donald Trump's administration changing its tune on tariff and trade policy on a seemingly regular basis, there's always something for investors to dive into and learn. May 15 marked one of these pivotal data releases for investors. No later than 45 calendar days following the end to a quarter, institutional investors managing at least $100 million are required to file Form 13F with the Securities and Exchange Commission. A 13F provides a snapshot for investors that allows them to see which stocks, exchange-traded funds (ETFs), and (select) options contracts Wall Street's most-prominent money managers have been buying and selling. It's a nice way to uncover which securities and trends are piquing the attention of big-money investors. But there's a big world of investment dollars that extends beyond Berkshire Hathaway's Warren Buffett and select billionaire fund managers -- and it pays to know what these funds are holding. For example, the California Public Employees' Retirement System, commonly known as CalPERS, manages north of $500 billion in assets on behalf of its more than 2 million members, which includes public employees, retirees, and their families. CalPERS spreads its investment capital across a broad swath of asset classes, including fixed income (e.g., Treasury bonds), private debt, private equity, and of course, public equities (stocks and ETFs). Though CalPERS closed the March-ended quarter with north of 1,100 securities in its portfolio, it's the top holding for America's largest pension fund that really stands out and delivers with long-term consistency. Based on CalPERS' 13F, its fund managers were overseeing approximately $143.1 billion in invested assets as of the end of March. With this being a highly diversified pension fund, only 14 of these positions equated to 1% or more of invested assets. But what a majority of these leading positions have in common is that they're Wall Street's most-influential businesses. Excluding Saudi Aramco, which isn't traded on U.S. stock exchanges, eight of the 10 public companies to have reached a $1 trillion (or greater) valuation are among these 14 positions, with only Tesla and Taiwan Semiconductor Manufacturing missing. For instance, Apple (NASDAQ: AAPL) is the second-largest holding for CalPERS (5.4% of invested assets), based on its 13F. The roughly 34.66 million shares held equated to almost $7.7 billion in market value at the end of March. Though Apple's growth heyday might be in the rearview mirror, it's still a cash-generating machine thanks to its top-selling iPhone and its high-margin, subscription-driven services segment. Also, no public company has repurchased more of its own stock than Apple. Artificial intelligence (AI) giant Nvidia (NASDAQ: NVDA), which briefly became the most-valuable public company by market cap, is CalPERS' No. 4 holding by market value (4.4% of invested assets). Nvidia's Hopper (H100) graphics processing unit (GPU) and Blackwell GPU architecture are primarily responsible for overseeing generative AI solutions and the training of large language models in high-compute data centers. By one estimate, AI can add $15.7 trillion to the global economy come 2030, and Nvidia is at the center of this growth trend. The point being that many of CalPERS' biggest positions are tied to businesses that are instrumental to the ongoing success of the American and global economy. But it's CalPERS' top holding that has an as-of-now perfect track record of delivering for long-term investors. Though CalPERS' $143.1 billion portfolio is primarily comprised of individual stocks, the largest holding for America's top pension fund is an ETF: the Vanguard S&P 500 ETF (NYSEMKT: VOO) (7.9% of invested assets). The beauty of ETFs is they can provide instant diversification or concentration, depending on your preference, with the click of a button. In this instance, the Vanguard S&P 500 ETF attempts to mirror the performance of the benchmark S&P 500 (SNPINDEX: ^GSPC). Instead of having to buy 503 separate securities -- three S&P 500 companies have two classes of shares, which is why there are currently 503 components and not an even 500 -- and weight them appropriately to effectively match the returns of the S&P 500, the Vanguard S&P 500 ETF does this for investors with the click of the buy button. In return for this ease of investment, investors pay various fees in the form of the net expense ratio. These fees cover the costs of overseeing the fund, marketing, and so on. Generally, the more active the turnover in the fund, the higher the net expense ratio. The two biggest S&P 500 index funds by net assets are the Vanguard S&P 500 ETF and the SPDR S&P 500 ETF Trust (NYSEMKT: SPY). The SPDR S&P 500 ETF Trust was the first ETF to be listed on a national stock exchange. Although the Vanguard S&P 500 ETF and SPDR S&P 500 ETF Trust effectively mirror the returns of the benchmark S&P 500, the two have one notable difference: their net expense ratios. The SPDR S&P 500 ETF Trust has a low net expense ratio of 0.09%. This means $0.90 of every $1,000 invested will be kept for various fees. Meanwhile, the Vanguard S&P 500 ETF has a net expense ratio of just 0.03%. While six hundredths of a percent might not sound like much, it can add up over multiple decades as your investment grows. But what really makes the Vanguard S&P 500 ETF special is its, thus far, guaranteed long-term returns. To preface, nothing is concretely a given when it comes to the stock market. Neither I nor any analyst can tell you with 100% certainty what comes next for stocks. But S&P 500 tracking indexes like the Vanguard S&P 500 ETF are the closest thing to an investment guarantee on Wall Street. Every year, the analysts at Crestmont Research update a data set that examines the rolling 20-year total returns, including dividends, of the benchmark S&P 500 dating back to the start of the 20th century. Even though the S&P wasn't officially incepted until 1923, researchers were able to track the performance of its components in other major indexes from 1900 to 1923 to obtain the relevant total return data. This resulted in 106 rolling 20-year periods to examine (1900-1919, 1901-1920, 1902-1921, and so on, to 2005-2024). What Crestmont Research found was that all 106 rolling 20-year periods produced a positive annualized return. Hypothetically, if you had purchased an S&P 500 tracking index at any point between 1900 and 2005 and simply held for 20 years, you made money every time. It didn't matter if you purchased at the top of a bull market, held through a recession or depression, or navigated through a war or pandemic -- you would have grown your wealth every time. Arguably no stock market investment has delivered with more long-term consistency than S&P 500 index funds – and no S&P 500 ETF has a more favorable net expense ratio than the Vanguard S&P 500 ETF. Before you buy stock in Vanguard S&P 500 ETF, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Vanguard S&P 500 ETF wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,389!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $830,492!* Now, it's worth noting Stock Advisor's total average return is 982% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Berkshire Hathaway, Nvidia, Taiwan Semiconductor Manufacturing, Tesla, and Vanguard S&P 500 ETF. The Motley Fool has a disclosure policy. The Top Holding for CalPERS, America's Largest Public Pension Fund, Is the Closest Thing You'll Find to a Guaranteed Investment on Wall Street was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
29-05-2025
- Business
- Globe and Mail
The Top Holding for CalPERS, America's Largest Public Pension Fund, Is the Closest Thing You'll Find to a Guaranteed Investment on Wall Street
There's nothing more important to investors than data -- and they're rarely, if ever, lacking for it on Wall Street. Between earnings reports, regular U.S. economic data releases, and Donald Trump's administration changing its tune on tariff and trade policy on a seemingly regular basis, there's always something for investors to dive into and learn. May 15 marked one of these pivotal data releases for investors. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » No later than 45 calendar days following the end to a quarter, institutional investors managing at least $100 million are required to file Form 13F with the Securities and Exchange Commission. A 13F provides a snapshot for investors that allows them to see which stocks, exchange-traded funds (ETFs), and (select) options contracts Wall Street's most-prominent money managers have been buying and selling. It's a nice way to uncover which securities and trends are piquing the attention of big-money investors. But there's a big world of investment dollars that extends beyond Berkshire Hathaway 's Warren Buffett and select billionaire fund managers -- and it pays to know what these funds are holding. For example, the California Public Employees' Retirement System, commonly known as CalPERS, manages north of $500 billion in assets on behalf of its more than 2 million members, which includes public employees, retirees, and their families. CalPERS spreads its investment capital across a broad swath of asset classes, including fixed income (e.g., Treasury bonds), private debt, private equity, and of course, public equities (stocks and ETFs). Though CalPERS closed the March-ended quarter with north of 1,100 securities in its portfolio, it's the top holding for America's largest pension fund that really stands out and delivers with long-term consistency. America's largest pension fund owns pieces of many of America's most-influential businesses Based on CalPERS' 13F, its fund managers were overseeing approximately $143.1 billion in invested assets as of the end of March. With this being a highly diversified pension fund, only 14 of these positions equated to 1% or more of invested assets. But what a majority of these leading positions have in common is that they're Wall Street's most-influential businesses. Excluding Saudi Aramco, which isn't traded on U.S. stock exchanges, eight of the 10 public companies to have reached a $1 trillion (or greater) valuation are among these 14 positions, with only Tesla and Taiwan Semiconductor Manufacturing missing. For instance, Apple (NASDAQ: AAPL) is the second-largest holding for CalPERS (5.4% of invested assets), based on its 13F. The roughly 34.66 million shares held equated to almost $7.7 billion in market value at the end of March. Though Apple's growth heyday might be in the rearview mirror, it's still a cash-generating machine thanks to its top-selling iPhone and its high-margin, subscription-driven services segment. Also, no public company has repurchased more of its own stock than Apple. Artificial intelligence (AI) giant Nvidia (NASDAQ: NVDA), which briefly became the most-valuable public company by market cap, is CalPERS' No. 4 holding by market value (4.4% of invested assets). Nvidia's Hopper (H100) graphics processing unit (GPU) and Blackwell GPU architecture are primarily responsible for overseeing generative AI solutions and the training of large language models in high-compute data centers. By one estimate, AI can add $15.7 trillion to the global economy come 2030, and Nvidia is at the center of this growth trend. The point being that many of CalPERS' biggest positions are tied to businesses that are instrumental to the ongoing success of the American and global economy. But it's CalPERS' top holding that has an as-of-now perfect track record of delivering for long-term investors. CalPERS' top holding has (thus far) been a guaranteed moneymaker Though CalPERS' $143.1 billion portfolio is primarily comprised of individual stocks, the largest holding for America's top pension fund is an ETF: the Vanguard S&P 500 ETF (NYSEMKT: VOO) (7.9% of invested assets). The beauty of ETFs is they can provide instant diversification or concentration, depending on your preference, with the click of a button. In this instance, the Vanguard S&P 500 ETF attempts to mirror the performance of the benchmark S&P 500 (SNPINDEX: ^GSPC). Instead of having to buy 503 separate securities -- three S&P 500 companies have two classes of shares, which is why there are currently 503 components and not an even 500 -- and weight them appropriately to effectively match the returns of the S&P 500, the Vanguard S&P 500 ETF does this for investors with the click of the buy button. In return for this ease of investment, investors pay various fees in the form of the net expense ratio. These fees cover the costs of overseeing the fund, marketing, and so on. Generally, the more active the turnover in the fund, the higher the net expense ratio. The two biggest S&P 500 index funds by net assets are the Vanguard S&P 500 ETF and the SPDR S&P 500 ETF Trust (NYSEMKT: SPY). The SPDR S&P 500 ETF Trust was the first ETF to be listed on a national stock exchange. Although the Vanguard S&P 500 ETF and SPDR S&P 500 ETF Trust effectively mirror the returns of the benchmark S&P 500, the two have one notable difference: their net expense ratios. The SPDR S&P 500 ETF Trust has a low net expense ratio of 0.09%. This means $0.90 of every $1,000 invested will be kept for various fees. Meanwhile, the Vanguard S&P 500 ETF has a net expense ratio of just 0.03%. While six hundredths of a percent might not sound like much, it can add up over multiple decades as your investment grows. But what really makes the Vanguard S&P 500 ETF special is its, thus far, guaranteed long-term returns. To preface, nothing is concretely a given when it comes to the stock market. Neither I nor any analyst can tell you with 100% certainty what comes next for stocks. But S&P 500 tracking indexes like the Vanguard S&P 500 ETF are the closest thing to an investment guarantee on Wall Street. ^SPX data by YCharts. The above S&P 500 chart only goes back as far as 1950. Every year, the analysts at Crestmont Research update a data set that examines the rolling 20-year total returns, including dividends, of the benchmark S&P 500 dating back to the start of the 20th century. Even though the S&P wasn't officially incepted until 1923, researchers were able to track the performance of its components in other major indexes from 1900 to 1923 to obtain the relevant total return data. This resulted in 106 rolling 20-year periods to examine (1900-1919, 1901-1920, 1902-1921, and so on, to 2005-2024). What Crestmont Research found was that all 106 rolling 20-year periods produced a positive annualized return. Hypothetically, if you had purchased an S&P 500 tracking index at any point between 1900 and 2005 and simply held for 20 years, you made money every time. It didn't matter if you purchased at the top of a bull market, held through a recession or depression, or navigated through a war or pandemic -- you would have grown your wealth every time. Arguably no stock market investment has delivered with more long-term consistency than S&P 500 index funds – and no S&P 500 ETF has a more favorable net expense ratio than the Vanguard S&P 500 ETF. Should you invest $1,000 in Vanguard S&P 500 ETF right now? Before you buy stock in Vanguard S&P 500 ETF, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Vanguard S&P 500 ETF wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,389!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $830,492!* Now, it's worth noting Stock Advisor 's total average return is982% — a market-crushing outperformance compared to171%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of May 19, 2025
