News Archives

Articles for category Retirees

David Crane swings and misses on CalPERS investments

Posted Jul 22, 2015 by    categoryCalPERS categoryRetirees categoryState Economy categoryRetirement categoryState Employees

In an email to journalists and election officials, David Crane arrives at a false conclusion with his claim that CalPERS unfunded actuarial liability (UAL) will continue to grow unless the system achieves a return of at least 9.7%, not the 7.5% CalPERS currently assumes.

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CalPERS chief to cut volatility of pension fund

Posted Jul 16, 2015 by    categoryCalPERS categoryRetirees categoryState Economy categoryRetirement

The California Public Employees' Retirement System, projected to have negative cash flow for at least the next 15 years, is looking to recast investment priorities to slash the complexity and volatility embedded in its $301-billion portfolio, officials said on Tuesday.

Fund officials, recognizing that the wave of retiring baby boomers means it will pay out more in benefits than it takes in from contributions and investment income - a gap that could reach $10 billion by 2030 - are expecting to pivot more toward assets that deliver reliable income than in the past.


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CSR Legislative Report - July 1, 2015

Posted Jul 01, 2015 by    categoryRetirees categoryLegislation

The following PDF is a list of Bills that CSR is supporting, opposing or watching.

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CalPERS releases report on investments and their benefits

Posted Jun 17, 2015 by    categoryCalPERS categoryRetirees categoryNational Economy categoryState Economy categoryRetirement

The California Public Employees’ Retirement System (CalPERS) today released its annual CalPERS for California Report, detailing the broad ancillary benefits the System’s investments generated in California for the 2013-14 Fiscal Year. Additionally, CalPERS released an updated version of the California Initiative Report, highlighting a program that encourages investments in companies located in traditionally underserved California markets.

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CalPERS committee moves to recommend 2016 health rates; New Medicare Advantage plan is proposed

Posted Jun 16, 2015 by    categoryCalPERS categoryRetirees categoryHealth Care categoryRetirement

CalPERS -- The California Public Employees' Retirement System's (CalPERS) Pension and Health Benefits Committee (PHBC)  recommended June 16 the Pension Fund's Board of Administration adopt health care premium rate and plan changes for 2016. The recommendations include adopting a Medicare plan alternative - UnitedHealthcare's (UHC) Medicare Advantage Preferred Provider Organization (PPO) plan - and eliminating Medicare Advantage plans currently offered by Anthem Blue Cross, Blue Shield of California, Health Net and Sharp. Kaiser Permanente will continue to offer its Medicare Advantage plan and the CalPERS PPO Medicare Supplement plans will remain in place.

CalPERS' decision to adopt UHC's PPO could save a minimum of $24 million if at least 40,000 members move into this new Medicare plan option.



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Medi-Cal phone lines are overwhelmed

Posted Jun 16, 2015 by    categoryCalPERS categoryRetirees categoryHealth Care categoryRetirement

Sacramento Bee -- Thousands of calls to California’s Medi-Cal complaint lines don’t get through, and thousands more that manage to ring the call center go unanswered, according to a new state audit.

For the year that ended in January 2015, the phone system to the Medi-Cal Ombudsman Office rejected up to 45,000 calls in a month, State Auditor Elaine Howle said in her report to lawmakers.

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CalPERS responds to Reed's public pension measure

Posted Jun 04, 2015 by    categoryCalPERS categoryRetirees categoryPolitics categoryRetirement

"Inadequate financial preparation for retirement is a growing national concern. Defined benefit plans are the most cost-efficient way to save for retirement and should remain an important tool in retirement planning. All employees – whether in the public or private sectors – should have effective means to pursue retirement security," CalPERS said in a statement issued June 4.

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Ballot measure would have voters decide public pension benefits

Posted Jun 04, 2015 by    categoryCalPERS categoryRetirees categoryPolitics categoryRetirement

For the third time in four years, advocates for altering public pensions have a plan they want to put to a statewide vote.

But this time the proposal by pension-change advocates Chuck Reed and Carl DeMaio has a new twist: Pensions and other retirement benefits themselves would automatically become a matter of ballot-box politics by requiring voter approval any time government officials sought to upgrade benefits.

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CSR Board Member Jerry Evans passes away

Posted Jun 01, 2015 by    categoryCSEA categoryRetirees

Longtime CSR Board Member Jerry Evans, who was the District B director and the board’s former executive vice president and vice president, passed away suddenly on May 30.

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Justices make it easier to sue over 401 (k)s

Posted May 19, 2015 by    categoryCalPERS categoryRetirees categoryRetirement

WASHINGTON (AP) — The Supreme Court ruled unanimously Monday in favor of participants in employee retirement plans who object to companies' investment decisions that eat into retirement savings.

The justices revived claims by current and former employees of energy company Edison International. The employees argued that the company chose mutual funds with excessive fees.

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