The Sudden Release By CalPERS Of Its Annual Reports

[Pat]

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Q&A-24 stated that although CalPERS posts on its website annual Investment Reports, its most recent one was for its fiscal year ended 6/30/2011 -- WHICH WAS 22 MONTHS AGO!!!

Q&A-25 stated that the U.S. Securities and Exchange Commission (“SEC”) requires large companies to file their annual reports with the SEC within 2.5 months and small corporations to file within 3.0 months -- WITH NO EXCEPTIONS AND NO EXCUSES!!!

The Q&A’s were posted on this bulletin board Tuesday evening 4/23/2013 and by the end of the week CalPERS had SUDDENLY POSTED ON ITS WEBSITE FOR THE FIRST TIME EVER AND 10 MONTHS AFTER THE END OF ITS MOST-RECENT FISCAL YEAR its "Comprehensive Annual" Reports for its fiscal year ended 6/30/2012 and 9 prior years, while eliminating from its website the 22-month-old Investment Report for 6/30/2011 and 9 older Investment Reports.

Since this would seem to be too much of a coincidence, we should pat ourselves on the back for having shamed CalPERS into finally issuing its 6/30/2012 annual report.

But let’s not hold our collective breaths whether CalPERS can be shamed into disclosing the extent to which it would be underfunded if it were forced to use the “Fair Value” Method required by Generally Accepted Accounting Principles (“GAAP”) for annual reports of corporations filed with the U.S. Securities and Exchange Commission (please see Q&A-17 through Q&A-22 of the Short Quiz posted in this section and pp. 3-5 of the May 2011 Report of the non-partisan U.S. Congressional Budget Office on "The Underfunding of State and Local Pension Plans" which is posted in the next section of this bulletin board entitled "Reference Materials").