Controversy Still Follows CalPERS’ CIO Resignation More than a half-year after Ben Meng resigned, a lawsuit and pending pension system policy decisions are bringing his departure back into the limelight. Seven months after California Public Employees’ Retirement System (CalPERS) Chief Investment Officer Ben Meng resigned following conflict-of-interest charges, the fallout continues over his abrupt departure. At the same time, the largest pension organization in the United States, with $440 billion in assets, still does not have a new CIO, despite a search that has gone on for least six months. Now, a former CalPERS board member and investment officer has filed a lawsuit demanding that the pension system turn over transcripts, recordings, and notes from a closed-door board meeting held on August 17 allegedly to discuss the Meng affair. Meng resigned on August 5.