Imagine if California’s biggest investors decided to put just a fraction of their money into rebuilding our infrastructure, putting people to work now and keeping our economy efficient in the future.
On Monday, that happened. CalPERS, one of the largest investors in the world, voted to pump $800 million — about 0.4 percent of its assets — into infrastructure investments in California.
SEIU 521 member Brian O’Neill was at the meeting to encourage the CalPERS board to make jobs for Californians a priority.
Today we saw the first step, in the right direction for California and for PERS participants. We are investing in our infrastructure, our future and rebuilding the California dream. As a PERS member, public servant and a Californian, I know this is only the beginning to truly rebuild California!
California’s infrastructure desperately needs an overhaul, from the electric grid to transportation. CalPERS’s investments in clean energy, transportation or health care would create a significant number of jobs. What makes this idea truly a win-win is that CalPERS could increase its return on investment by investing in these projects.