California Public Employees Retirement System

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Gavin Newsom wants to get to the bargaining table, starting with expired CHP contract: Contracts are expiring this summer for five state worker bargaining units and the state still has no agreement with a California Highway Patrol union whose contract ended nearly a year … Click to Continue »
Millions of Californians have faulty Real IDs. Here’s how to avoid a trip back to the DMV: Over the next several months, California’s Department of Motor Vehicles plans to send letters to 3.4 million customers who received Real ID cards prematurely. Federal law requires Californians to have … Click to Continue »
California to pay $47 million for state payroll lawsuits filed in Jerry Brown era: Gov. Gavin Newsom’s budget proposal requests about $47 million to settle two state payroll disputes he inherited from his predecessor. The state Supreme Court ruled in October that Gov. Jerry … Click to Continue »
Governor boosts school pension cost relief plan: School districts, some saying CalSTRS rates are forcing cuts in programs and teacher pay, would get more pension cost relief under a revised state budget proposed last week by Gov. Newsom. The governor’s $700 million plan to lower school pension costs during the last two years of a seven-year C...
Rising school pension costs cut programs and pay: Legislation in 2014 to keep CalSTRS from running out of money in 30 years put a big burden on school districts. State funding rebounding from recession cuts helped schools absorb higher pension costs, spread over seven years to avoid budget shocks and allow time to plan. But now there is worry....
How CalPERS-sponsored bill increased pensions: The annual payment to CalPERS for state worker pensions next fiscal year is expected to be $7 billion, a jump from $6.4 billion this year — and a quantum leap from $160 million when a pension increase, SB 400, was approved 20 years ago. It was 1999 and CalPERS was in its golden years, thanks to...
PensionTsunami Is Taking a Four-Day Weekend: Pension news has been very sparse lately and the past two weeks have been especially ?? trying as well as very hot ?? so we??re going to take off early for the Labor Day weekend. See you on Tuesday! ?? Jack Dean, Editor
PensionTsunami is taking a break: We??re taking my favorite holiday ?? the Fourth of July ?? as an opportunity to rejuvenate for several days. We may post a headline or two each day if they seem important, but otherwise we hope to be back with full daily news of escalating state and local government pension crises on Monday. ...
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 t...
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 e...
CalPERS Issues Circular Letter Regarding Employer Obligations for Out-of-Class Appointments, But Many Questions Remain: This post was authored by Michael Youril. On April 27, 2018, the California Public Employees?? Retirement System (??CalPERS?) issued Circular Letter No.: 200-021-18, which discusses limitations imposed on ??out-of-class appointments? by Assembly Bill 1487, which added Government Code secti...
CalPERS Reduces Amortization Period with Impacts to Employer Contribution Rates: This post was authored by Stephanie J. Lowe and Frances Rogers. The California Public Employees?? Retirement System (CalPERS) recently decided to change its Actuarial Amortization Policy (??Amortization Policy?), which will impact employer contribution rates for contracting agencies. The revi...

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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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