SACRAMENTO, Calif. — The chief executive of California’s $350 billion pension fund does not have a college degree and the revelation has startled some retirees.
Marcie Frost leads the California Public Employee Retirement System, the nation’s largest retirement system.
The Sacramento Bee reports that Frost did not claim to have a college degree when she was hired to lead CalPERS in 2016, but Frost is under fire now after a blogger alleged Frost implied in her application and in a statement announcing her hiring that she was working on obtaining a college degree.
Blogger Susan Webber points out Frost said she was pursuing dual degrees at The Evergreen State College in Olympia when she applied to CalPERS but she had not taken any classes there since 2010.
Frost says she still intends to obtain a degree.