Sacramento, CA - If you didn’t know any better, you’d think that CalPERS is the source of all California’s ills: higher taxes, bankrupt cities, reduced public services, lavish pensions, the list goes on. We’ve even been blamed for failing to catch the fact that Wells Fargo employees were creating fake bank accounts...
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The California Public Employees' Retirement System expects a 5.8 percent annual investment return under its new portfolio asset allocation, significantly lower than the fund's assumed rate of return of 7 percent by 2020.
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Sacramento, CA —The state’s cost for retiree health and dental benefits has grown to $76.68 billion, according to a report published today by State Controller Betty T. Yee. The liability represents the present-day cost to provide retiree health and dental benefits earned as of June 30, 2016 – one of the state’s largest long-term debts.
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The U.S. Supreme Court agreed Friday to consider reviving an attempt by the California Public Employees’ Retirement System to recover some of the $300 million it lost when the Lehman Brothers investment bank collapsed in 2008.
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CalPERS' Action on Discount Rate was a Prudent, Smart Decision
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Please review the message below from CalPERS in regards to the issue with OptumRX.
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Sacramento, CA - California will be forced to pay billions more in pension contributions for government employees after the state retirement system’s decision to lower its assumed rate of return.
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Sacramento, CA – The California Public Employees' Retirement System (CalPERS) Board of Administration today voted to lower the discount rate from 7.5 percent to 7.0 percent over the next three years. This incremental lowering of the discount rate will give employers more time to prepare for the changes in contribution costs.
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The ongoing battle between CalPERS investing in the Tobacco industry has come to fruition this week as CalPERS is reopening a decade-long discussion about reinvesting in Tobacco after a 16-year ban.
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Sacramento, CA - By Chris Reed
Critics of Wells Fargo’s scandal are raising questions about why the California Public [Read More...]