Obamacare and an aging U.S. population are spurring purchases of medical office buildings, with investors sending prices to a record on bets that Americans demand for health services will increase.

Ted Eliopoulos, current senior investment officer for real estate, will serve as acting CIO of the more than $277 billion pension plan, also known as Calpers.

Brown also said hell back a constitutional amendment to stockpile unpredictable capital-gains taxes and deal with looming shortfalls in public pensions.

Will 2014 turn out to be a good year for pension stability? A good year for the growth of wealth through pensions? Maybe yes. Maybe no.