IE Business Daily Business news for the Inland Empire.
Palm Springs council member Lisa Middleton has been appointed to the California Public Employees’ Retirement System’s governing board of administrators.
Middleton, appointed by Gov. Gavin Newsom, was elected to the city council in November 2017, according to a statement on the city’s website.
A member of CalPERS, Middleton has an extensive background in finance, including 36 years working with the California Compensation Insurance Fund. As part of CalPERS’s 13-member governing board, she will help set employee compensation rates, determine investment asset allocations, provide actuarial valuations and oversee employee pension and health benefits.
The board meets 10 times a year in Sacramento.
CalPERS is the largest public pension in the United States, with more than 1.9 million people in its retirement system and 1.5 million families in its health program, according to the statement.
