CalPERS lowers outperformance CEO needs to receive incentive pay.

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    • Abstract:
      CalPERS made some changes to CEO Marcie Frost's incentive plan for fiscal year 2023, including lowering the level of outperformance the $454.8 billion pension fund has to attain for Ms. Frost to get credit toward a maximum payout. On April 16, 2021, CalPERS sued former employee Gloria Najera, then a 25-year veteran of CalPERS and a former associate governmental program analyst. [Extracted from the article]