WASHINGTON—Gov. Gavin Newsom should immediately fire California Public Employees Retirement System (CalPERS) Chief Investment Officer Yu Ben Meng because of his “long and cozy” relationship with the Chinese Communist Party (CCP), according to Rep. Jim Banks (R-Ind.).
In a Feb. 12 letter to Newsom, Banks pointed out that, with $360 billion in assets, CalPERS is the biggest public employee pension program in the United States and it has a long history of “shareholder activism,” in which officials leverage the fund’s wealth to influence corporate and government policies around the world.
