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513 Matching News Items |
| 1. |
Text of CalPERS Circular Letter 200-016-20: COVID-19 Impacts to CalPERS Reporting (PDF)
California Public Employees' Retirement System [CalPERS] 
Mar. 19, 2020
"Will CalPERS grant extensions for submitting and posting regular earned period payroll reports due to potential closures caused by COVID-19? ... If contributions, payroll, or retired annuitant data is reported late during the COVID-19 pandemic, will CalPERS consider waiving fees and/or interest? ... If a membership enrollment is reported late during the COVID-19 pandemic, will CalPERS consider waiving administrative fees and penalties? ... If we put a full-time, eligible member on Paid Administrative Leave because their work-site is shut down due to COVID-19, is their pay still considered reportable compensation? ... Can an employer make an advance estimated payment on contributions?"
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| 2. |
CalPERS Paid Lawyers $7 Million in Bankruptcies
Calpensions
Feb. 16, 2015
"CalPERS has paid two law firms more than $7 million in the Vallejo, Stockton and San Bernardino bankruptcies, even though a federal judge doubts that it has the legal standing to object to city pension cuts.... In the Vallejo bankruptcy, CalPERS from 2008 to 2012 paid $526,356 to the law firm of Felderstein Fitzgerald Willoughby & Pascuzzi. Then CalPERS switched law firms and from 2012 through last November paid K&L Gates $3.2 million for the Stockton bankruptcy and $3.3 million for the San Bernardino bankruptcy. Peter Mixon, the CalPERS general counsel for 11 years, left CalPERS in 2013 and became a partner in K&L Gates last October."
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| 3. |
Bankruptcy Judge Says CalPERS Pensions Can Be Cut
Calpensions
Oct. 2, 2014
"[U.S. Bankruptcy Judge Christopher Klein] said during the trial in May that one of his options was ruling on whether CalPERS pensions could be cut without necessarily finding that Stockton pensions should be cut. Part of his analysis ... that CalPERS pensions are not state 'governmental or political powers' protected under federal bankruptcy law is that while state workers are in CalPERS by statute, cities choose to join CalPERS. Klein said California cities have the option of forming their own pension systems, joining a county pension system, hiring a private pension provider or withdrawing from CalPERS, if they can afford to do so. He concluded that benefits not prescribed by state law are not 'governmental or political' powers protected by the federal bankruptcy law, but instead are unprotected 'business powers.'"
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| 4. |
CalPERS Fact Sheet: Pensionable Compensation Rules (PDF)
CalPERS
Sept. 21, 2014
"How was pensionable compensation impacted by the Public Employees' Pension Reform Act (PEPRA) of 2013? ... Did PEPRA limit pensionable compensation only to base pay? ... Did the recent action by the CalPERS board add 99 items to pensionable compensation? No.... Is Governor Brown opposed to CalPERS regulations dealing with pensionable compensation? ... Will CalPERS regulations undermine the anti-spiking provisions of PEPRA? No.... Did CalPERS include pensionable compensation in its cost analysis? Yes."
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| 5. |
CalPERS' Bonus Bonanza?
Pension Pulse
Nov. 6, 2013
"To traders who eat what they kill, seeing America's biggest public pension fund dole out twice as much in bonuses to their senior investment officers after recouping losses suffered during the recession doesn't make any sense at all. Most people would agree with him, why pay out big bonuses for recouping massive losses? CalPERS talks about the need to compete with Wall Street pay but nobody on Wall Street would still have a job if they experienced the losses CalPERS experienced during the recession."
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| 6. |
CalPERS and Transparency
The Wall Street Journal; subscription may be required
July 11, 2013
"Earlier this month CalPERS stunned retirees by announcing that it would soon publish their names, annuities, cost of living adjustments, years of service, retirement date and final compensation to a public online database.... The pension fund figured that if the information was going to get out anyway, it might as well try to control the presentation.... This, however, was a bridge too far for CalPERS's 500,000 retirees.... It's no small irony that the opaque pension fund has itself become a target of activist taxpayers demanding greater transparency."
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| 7. |
When CalPERS Meets Greece?
Pension Pulse
Nov. 29, 2012
"[If CalPERS] manage[s] to secure pension payments ahead of unsecured bondholders, it could potentially rock the municipal bond market, making it more expensive for cities to borrow money. But if CalPERS loses this case, it opens up a Pandora's box as other municipalities will follow San Bernardino and suspend their pension payments. If that happens, CalPERS will have to make difficult choices, like drop or terminate city pensions. This isn't in anyone's best interest."
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| 8. |
CalPERS Reports 1% Return: 'What If' Charts at Various Compound Annualized Rates-of-Return Going Forward
MISH'S Global Economic Trend Analysis
July 17, 2012
"Let's pretend that CalPERS is 100% funded.... [W]hat will CalPERS underfunding look like at various compound plan performance rates? CalPERS currently has $233 billion in assets. CalPERS assumes 7.5% annual growth. What if CalPERS only returns 5%? or 2.5%?"
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| 9. |
CalPERS Reports Preliminary 2011-12 Fiscal Year Performance of 1 Percent
CalPERS
July 16, 2012
"The California Public Employees' Retirement System (CalPERS) today reported a 1 percent return on investments for the 12 months that ended June 30, 2012, falling short of its benchmark that returned 1.7 percent. CalPERS assets at the end of the fiscal year stood at more than $233 billion.... CalPERS' 1 percent return is below the fund's discount rate of 7.5 percent, a long-term hurdle lowered recently in response to a steady decline in inflation and as part of CalPERS routine evaluation of economic assumptions. CalPERS' 20-year investment return is 7.7 percent."
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| 10. |
CalPERS Releases First Report on Its Environmental, Social and Governance Work
CalPERS
Apr. 26, 2012
"The report explains the fiduciary framework [CalPERS has] adopted to integrate sustainability across the total fund, illustrates achievements from the last few years, and outlines [the] vision for the future. [Contents include] CalPERS views on Sustainable Investing; The '3 Ps' of the CalPERS program: Priorities, Performance and Procurement; How CalPERS integrates ESG in its own operations; [CalPERS] strategic themes of alignment of interest, climate change and human capital[.]"
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| 11. |
CalPERS' Strange Alliance
Kathleen Pender on SFGate.com
Dec. 18, 2003
Excerpt: On Monday, the board of the California Public Employees' Retirement System voted not to fire AllianceBernstein, one of the firms implicated in the mutual fund scandal, but to put it on a watch list pending the outcome of various investigations.
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| 12. |
CalPERS PPO Premiums to Increase 15.76% for 2023
California Public Employees' Retirement System [CalPERS]
July 12, 2022
"The CalPERS Board of Administration [on July 12] approved health plan premiums for calendar year 2023, at an overall premium increase of 6.75%.... Members enrolled in CalPERS' Basic (non-Medicare) Health Maintenance Organization (HMO) plans will see an average premium increase of 4.35%. Preferred Provider Organization (PPO) Basic plan members will see an overall increase of 15.76%."
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| 13. |
CalPERS Announces 4.86% Increase in Health Plan Premiums
California Public Employees' Retirement System [CalPERS]
July 13, 2021
"The CalPERS Board of Administration today approved health plan premiums for calendar year 2022, at an overall premium increase of 4.86%. Premiums for CalPERS' Medicare Advantage plans are declining across the board from the previous year."
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| 14. |
CalPERS Announces Health Plan Premiums for 2021
California Public Employees' Retirement System [CalPERS]
July 14, 2020
"The overall impact of COVID-19 on CalPERS' 2021 rates will be a modest 0.57%. Factors included in projecting COVID-19's impact included the savings due to delayed and deferred care this year, which CalPERS was able to use to reduce rate increases for next year."
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| 15. |
CalPERS Adopts 2019 Health Rates
California Public Employees' Retirement System [CalPERS]
June 20, 2018
"The CalPERS Board of Administration [has] approved health care rate and plan changes for 2019 that include an average 1.16 percent overall premium increase, marking the lowest health premium increase CalPERS has negotiated in over two decades.... Overall rates for seven of the nine HMO plans will be less than the 2018 rates.... A pilot program for reference-pricing pharmaceuticals will begin ... The PERS Select Basic PPO plan will adopt a value-based insurance design."
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| 16. |
CalPERS Unveils Direct Investment Model for Private Equity
CalPERS
May 17, 2018
"CalPERS Direct would be governed by a separate, independent board to advise on allocation and longer-term capital market perspectives. It would consist of two separate funds. One would focus on late-stage investments in technology, life sciences, and healthcare, and the other on long-term investments in established companies. These would operate alongside CalPERS' existing private equity structure that typically invests in co-mingled private equity funds."
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| 17. |
CalPERS Identifies Income Sources of Public Employee Pensions
CalPERS
Nov. 1, 2017
"The CalPERS Pension Buck illustrates the sources of income that fund public employee pensions. Based on data over the past 20 years ending June 30, 2017, for every dollar CalPERS pays in pensions, 61 cents comes from investment earnings, 26 cents from employer contributions, and 13 cents from employee contributions. In other words, 74 cents out of every public employee pension dollar is funded by CalPERS' own investment earnings and member contributions."
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| 18. |
CalPERS 2017 Investment Return Exceeds Expectations
The Sacramento Bee
July 16, 2017
"[CalPERS] rode a strong year in the stock market and private equity investments to earn a return rate of 11.2 percent for the fiscal year that ended June 30 ... That's about double what CalPERS expected to earn this year. It's also a marked improvement over the previous year, when CalPERS' investment return rate was 0.61 percent. In the budget year that ended in June 2015, CalPERS' investment return rate was 2.4 percent."
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| 19. |
CalPERS Joins Other Investors in Continued Support of Pay Ratio Disclosure
CalPERS
Mar. 22, 2017
"The Investor Statement on Pay Ratio Disclosure letter was signed by more than 100 organizations representing $3 trillion in collective assets under management. Other signatories include the New York City Pension Funds, Legal & General Investment Management, Standard Life Investments, and Washington State Investment Board.... 'As a long-term investor, CalPERS believes the Pay Ratio Rule provides important information for investors regarding CEO and employee compensation,' said Anne Simpson, [of CalPERS] ... 'It shines a light on how well a company is managing its human capital.' "
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| 20. |
CalPERS Finds the City of Loyalton in Default for Non-Payment of Pension Obligation
CalPERS
Nov. 16, 2016
"The Board of Administration for [CalPERS] today declared the city of Loyalton in default of its obligations to CalPERS after failing to pay what it owes to fund its pension plan.... To date, Loyalton has not made any payments toward its voluntary termination costs.... [A] certified letter explaining CalPERS' proposed action to reduce benefits was sent to the four affected retirees and one individual who no longer works for the city but does not yet collect retirement benefits."
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