Sean Harrigan, president of Calpers, California's largest public pension fund, was removed on Wednesday. The California Public Employees Retirement System, or Calpers, manages $178 billion of retirement money.

 

He claims that hi removal followed a campaign he waged against corporate practices at Walt Disney, Safeway, the New York Stock Exchange and others. He remains upbeat on the prospects of his struggle.

 

"Removing one person will not reduce the strength, the commitment nor the resolve to fight for our members," he said in a statement.

 

Other views include the idea that Calpers president’s removal is the first step in the reform of the nation’s pension system as more than $6 trillion of the Americans’ retirement funds are tied up in funds that lately have been

 

Richard Ferlauto, director of pension investment for the American Federation of State, County and Municipal Employees, views the change as political, since Calpers board now predominantly controlled by Democrats, and the president’s change will allow the fund to get more in line with Republican ideas. "Clearly, we're seeing a Republican attack on public pension systems," Ferlauto said. "And California has been targeted in a very strong way."