California State Senator Ben Allen has endorsed bitcoin nonprofit founder Dom Bei in his marketing campaign for a seat on the board of the California Public Workers’ Retirement System (CalPERS).
CalPERS oversees an enormous $500 billion pension fund serving over 2 million public sector retirees. If elected, Bei can be the primary brazenly pro-bitcoin voice on the 13-member board.
Bei is a 16-year veteran firefighter who based Proof of Workforce, a nonprofit offering bitcoin training to employees, unions and pension funds. He beforehand served on Santa Monica’s pension advisory board and performed a key function within the metropolis’s firefighters union, changing into one of many first to carry bitcoin.
I’ve devoted over a decade to championing employees and wage-earners.
Now, 𝐈’𝐦 𝐫𝐮𝐧𝐧𝐢𝐧𝐠 𝐟𝐨𝐫 𝐂𝐚𝐥𝐏𝐄𝐑𝐒 𝐁𝐨𝐚𝐫𝐝 𝐨𝐟 𝐓𝐫𝐮𝐬𝐭𝐞𝐞𝐬 to guard our nation’s largest public pension, serving 2M+ contributors! pic.twitter.com/qgbocBVTAI
— Dom Bei (@Beiwatch1) March 12, 2025
By his outreach work, Bei has assisted a number of unions, associations and pensions in exploring and adopting bitcoin methods. This consists of spearheading training efforts for the Wisconsin Retirement System. Bei now hopes to deliver his bitcoin expertise on to CalPERS, which manages retirement belongings for California police, firefighters, academics and different public staff.
Senator Allen said, “Now greater than ever, pension contributors want engagement and transparency from CalPERS. I endorse Dom Bei to be that conduit as a member laser-focused on the fund’s long-term well being.” Different notable endorsements embrace Santa Monica Mayor Lana Negrete, California Treasurer candidate Tony Vazquez and over a dozen state legislators.
CalPERS faces rising headwinds with its conventional 60/40 portfolio allocation, struggling amid inflation and rising rates of interest. With ballots going out in late August, Bei’s bitcoin credentials may resonate with California’s public workforce looking for new methods to shore up their retirement safety.
His marketing campaign web site accepts donations in each fiat and bitcoin.
This put up California Senator Endorses Bitcoiner For $500B Pension Board first appeared on Bitcoin Journal and is written by Vivek Sen Bitcoin.
