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CalPERS Posts Savings in Consulting and Professional Service Expenses
CalPERS Link to more items from this source
Sept. 12, 2012
"CalPERS is expected to save more than $657,000 on its contract expenses this fiscal year based on voluntary reductions by some of the pension fund's vendors.... 'I am pleased to report today that 75 of our vendors stepped up to the plate by reducing their fees five percent or more,' said Anne Stausboll, Chief Executive Officer of CalPERS.... Expenses have steadily declined in recent years for contracts valued at more than $100,000. The fund had 144 of these larger contract relationships in fiscal year 2009-10 and paid approximately $299 million for services. At the close of the most recent fiscal year, CalPERS contracts of $100,000 or more shrank to 119 vendors and $262 million in fees.

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