California State Senator Ben Allen has endorsed bitcoin nonprofit founder Dom Bei in his campaign for a seat on the board of the California Public Employeesโ Retirement System (CalPERS).
CalPERS oversees a massive $500 billion pension fund serving over 2 million public sector retirees. If elected, Bei would be the first openly pro-bitcoin voice on the 13-member board.
Bei is a 16-year veteran firefighter who founded Proof of Workforce, a nonprofit providing bitcoin education to workers, unions and pension funds. He previously served on Santa Monicaโs pension advisory board and played a key role in the cityโs firefighters union, becoming one of the first to hold bitcoin.
Iโve dedicated over a decade to championing workers and wage-earners.
Now, ๐โ๐ฆ ๐ซ๐ฎ๐ง๐ง๐ข๐ง๐ ๐๐จ๐ซ ๐๐๐ฅ๐๐๐๐ ๐๐จ๐๐ซ๐ ๐จ๐ ๐๐ซ๐ฎ๐ฌ๐ญ๐๐๐ฌ to protect our nationโs largest public pension, serving 2M+ participants! pic.twitter.com/qgbocBVTAI
โ Dom Bei (@Beiwatch1) March 12, 2025
Through his outreach work, Bei has assisted multiple unions, associations and pensions in exploring and adopting bitcoin strategies. This includes spearheading education efforts for the Wisconsin Retirement System. Bei now hopes to bring his bitcoin experience directly to CalPERS, which manages retirement assets for California police, firefighters, teachers and other public employees.
Senator Allen stated, โNow more than ever, pension participants need engagement and transparency from CalPERS. I endorse Dom Bei to be that conduit as a member laser-focused on the fundโs long-term health.โ Other notable endorsements include Santa Monica Mayor Lana Negrete, California Treasurer candidate Tony Vazquez and over a dozen state legislators.
CalPERS faces growing headwinds with its traditional 60/40 portfolio allocation, struggling amid inflation and rising interest rates. With ballots going out in late August, Beiโs bitcoin credentials could resonate with Californiaโs public workforce seeking new strategies to shore up their retirement security.
His campaign website accepts donations in both fiat and bitcoin.
Vivek has been fascinated by Bitcoin since he discovered it in 2016. He also runs a Bitcoin marketing agency, Bitgrow Lab, and he used to work at a Bitcoin VC fund, Lightning Ventures. He loves growth, marketing, startups, and writing. He is an EU news reporter for Bitcoin Magazine.
