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California official wants probe of pension chief’s education

September 26, 2018

SACRAMENTO, Calif. (AP) — California state Treasurer John Chiang is calling for an independent investigation after critics raised questions about the educational background of the head of the nation’s largest public pension system.

California Public Employees’ Retirement System CEO Marcie Frost is facing criticism after a blogger wrote that she implied in her application and in a statement announcing her hiring that she was working on obtaining a college degree form Evergreen State College. But she has not taken classes there since 2010.

Chiang said Wednesday that Frost has performed well but failing to investigate would leave a cloud over the $360 billion pension fund. Chiang, a Democrat, sits on the CalPERS board.

CalPERS board members have told the Sacramento Bee they knew Frost did not have a degree when they hired her.

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