CalPERS board member may face $3,000 fine for failing to file financial statement
Lawyers at California’s political watchdog agency are proposing that a $3,000 fine be levied against a state pension board director for failing to file an annual financial statement.
Priya Mathur, a two-term member of the board at the California Public Employees’ Retirement System, did not file a legally required Statement of Economic Interests in 2007.
Disclosure statements listing all sources of income, investment holdings and gifts received are required to be submitted annually by elected and appointed state officials as well as by top managers at government agencies and commissions.
Not filing a report could result in a fine of up to $5,000 per violation, according to the Fair Political Practices Commission. Mathur also did not file a financial report for 2008 and could be subject to a second fine. The proposed fine for 2007 is on the commission’s April 8 agenda.
Mathur, a financial analyst at the Bay Area Rapid Transit District in San Francisco, said in January that she had “no reportable interests” for either 2007 or 2008.
The allegations of violations come during a period of ethical scrutiny at CalPERS. The retirement fund is being investigated by state and federal agencies because of large commissions paid by investment managers to sales intermediaries who helped them secure business with CalPERS.
