California Public Employees Retirement System

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California state payroll increased by $1 billion in 2017, twice as fast as previous year: California’s state payroll – excluding its universities – grew by more than $1 billion last year, twice the rate of growth as the previous year, according to new figures from … Click to Continue »
They rigged bids at four California state departments. Now they face prison sentences: Two San Francisco business partners who gamed state contracting rules to win $3 million in government contracts have pleaded to guilty to bid-rigging in federal court and are awaiting sentencing. … Click to Continue »
California state pay database updated: The Sacramento Bee’s state worker pay database has been updated with more than 250,000 civil service and California State University salaries for 2016. [State worker salary database] The database allows … Click to Continue »
Brown goes to court to finish pension reforms: While his lawyers urge the state Supreme Court to allow pension cuts, Gov. Brown is taking his time to fill a vacant seat that would make his appointees a majority on the high court, four of the seven justices. The vacancy created by the retirement last August of Justice Kathryn Werdegar, who g...
High hurdle for pension cuts in new court ruling: An appeals court yesterday ruled that the pensions of current employees can be cut without providing an offsetting new benefit, but only if there is “compelling evidence” that a reduction is needed for the successful operation of the retirement system. The new ruling in three consolidated count...
‘Excess’ pension payments grow then phase out: If the Internal Revenue Service annual limit for a public pension was $210,000 two years ago, why were the top 10 CalPERS pensions well above the limit, ranging from $290,273 to $390,485? The answer is that pension systems have the option of going over the IRS limit — if they set up a special f...
Coping with the public employee pension albatross: Instead of the cross, the albatross About my neck was hung. – Samuel Taylor Coleridge, The Rime of the Ancient Mariner, 1798 By Ed Ring | In Coleridge’s famous poem, a sailor who killed an albatross has it hung around his neck as punishment. Since then, the albatross, which sailors used to consi...
There’s more to Sonoma County’s illegally granted pension increases: By Ken Churchill | There is a lot more to today’s column by Paul Gullixson in the Press Democrat: 1. The supervisors never adopted the pension increase as required by law. Instead, and this the county readily admits, the increase was illegally agreed to in the settlement of a lawsuit between the ...
A Response to Yves Smith on CalPERS: Yes, The Twelve Days of CalPERS by Yves Smith at naked capitalism is very witty, but it plays into the hands of those who would like to see public pensions dismantled. I like some of the work Yves Smith has  have been reporting on CalPERS, which obviously needs not only watching but needs to be ...
CalPERS Candidate Forum: September 16, 2014: CalPERS Auditorium Looking Toward Board Seats Please attend the upcoming CalPERS Candidate Forum. Sorry, I haven’t been keeping this site up but have concentrated on Corporate Governance. However, another election cycle is coming up at CalPERS. State and local government employees will each ele...
Retirement for Disability – Latest Developments in CalPERS’ Requirements: Retirement for disability can already be a cumbersome and confusing process. The California Public Employees’ Retirement System’s (CalPERS) new and additional mandates – as set forth in its March 30, 2017 Circular Letter – raises the ante. The Letter informs all contracting public agencies of the...
CalPERS School and Local Agency Members May Now Recover Service Credit and Compensation Earnable Upon Administrative, Arbitral or Judicial Reversals of Terminations: CalPERS contracting agencies and schools should be aware that effective January 1, 2017, if an employee’s termination is overturned on appeal, back pay is not the only thing the employee will be able to recover. On June 21, 2016, we reported that Assembly Member Cooper introduced a new bill, AB 2...

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CalPERS manages pension and health benefits for more than 1.6 million California public employees, retirees, and their families. The second largest public pension fund in the US, they are internationally known for their shareowner activism.

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