<p>The California Public Employees Retirement System announced today that it plans to vote against five AOL Time Warner directors up for re-election.</p>
<p>CalPERS, the nation's largest pension fund, also said it will vote against ratifying the company's current auditor, Ernst & Young. According to CalPERS' web site, it will not vote for the auditor because the firm has performed ``non-audit'' services for AOL Time Warner.</p>