OTHER NEWS - May 22, 1996

CalPERS’ Official Stepping Down: Richard H. Koppes, the No. 2 man at the $99-billion California Public Employees’ Retirement System, said he will resign effective July 31 to teach law at Stanford University and serve as a consultant. “I’m leaving because I’ve been there 10 years and I have these wonderful opportunities,” said Koppes, 49, general counsel and deputy executive officer at the nation’s largest public pension fund, which is known as CalPERS. During his tenure at the retirement fund, Koppes was considered a major player in the shareholder rights movement who helped shape CalPERS’ activist role. But he said his departure is likely to have little impact on CalPERS’ future direction.