The Retired Public Employees' Association of California (RPEA) invites legislators, labor, and the public to the red-carpet world premiere of "Pension Fight Club," a documentary by award-winning filmmaker Doug Orchard. The film provides a national examination of the systemic risks and lack of transparency currently facing public retirement funds, including CalPERS.
Inside the "Pension Fight Club"
The documentary features the "Pension Fight Club"—a non-partisan coalition of state treasurers, pension board members, trustees, whistleblowers, and union leaders—who are demanding oversight of the public funds they are legally bound to manage. While public pensions must be transparent by law, the film alleges that over the past 30 years, Wall Street has increasingly "swept" these monies into "secrecy accounts" through private equity agreements hidden from fiduciaries.
The Cost of Transparency
Members of the "Fight Club" detail significant backlash for attempting to exercise their fiduciary duties, including:
- Targeted Campaigns: Suspiciously well-funded political campaigns against board members seeking oversight.
- Legal Retaliation: Lawsuits filed by state authorities (such as the Attorney General in Ohio) against those requesting contract reviews.
This premiere is particularly timely as the California Legislature considers SB 1319 (The Private Equity Sunshine Act), which would mandate disclosure of performance and workforce data for private equity holdings—a bill likely to be opposed by CalPERS.
Event Details
- When: Tuesday, May 19
- Where: Crest Theatre, 1013 K St, Sacramento
- Schedule: Red Carpet & Reception at 5:00 PM; Showtime at 6:00 PM
- Runtime: 87 minutes
- Q&A Panel: Panel discussion featuring director Doug Orchard and RPEA leaders Margaret Brown and J.J. Jelincic
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