Articles for category CalPERS
Please see the attached memo from our Legislative Advocate, Ted Toppin regarding CSR’s primary election results.
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Please consider supporting CSR endorsed candidates in the 2018 elections. If you have any questions, please contact CSR at CSRinfo@CalRetirees.org or 916.326.4292.
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Future state workers, your pension cost-of-living adjustments are safe and you won’t get to choose between a CalPERS pension and a 401(k) plan anytime soon. Both proposals were shot down on Monday by a Senate committee that rejected a pack of bills aimed at reducing the risk taxpayers face if an economic crisis cripples the state’s public pension funds.
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Call it the Loyalton effect.
CalPERS’ decision in late 2016 to slash pensions for four retirees from the tiny mountain town startled the state’s public workers so much that their confidence in the $354 billion fund began to plunge to its lowest level in five years.
It showed in an annual survey conducted by the California Public Employees’ Retirement System that gauges how public employees, retirees, and local government leaders feel about the state’s largest pension system.
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The Centers for Medicare and Medicaid Services (CMS) is taking a major step to help people with Medicare protect their identities from theft and fraud. CMS is removing Social Security numbers from current Medicare ID cards and replacing them with a unique Medicare number that does not contain a Social Security number.
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No issue in America today better illustrates the divergent interests of working Americans and the 1 percent than pension reform. Substantial empirical evidence shows that America’s favored retirement vehicle — the 401(k), recently renounced by its own inventors — is grossly inadequate and will leave tens of millions of Americans with insufficient retirement assets. And yet states and cities are busy converting traditional pensions into these failing 401(k)s or equivalents, to the great benefit of money managers and the finance class.
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For the first time in years, CalPERS is stable enough that it no longer expects to run deficits into the middle of the century.
Though still underfunded, the $345 billion pension fund has a better financial outlook because it’s collecting more money from employers and making the most of recent stock market gains, its chief investment officer said on Monday. That should help it avoid scenarios where it has to sell investment assets to pay pensions.
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Petaluma, CA - The CalPERS Board of Administration elected Priya Mathur as board president and Rob Feckner as vice president. Mathur is the first female elected president of the CalPERS board. This will be her first term. Feckner previously served as board president and vice president.
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Sacramento, CA - Margaret Brown was declared the unofficial winner today of the runoff election for a Member-at-Large seat on the CalPERS Board of Administration. New members' four-year terms begin January 16, 2018.
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SACRAMENTO, CA - The California State Personnel Board (SPB) has re-elected Richard Costigan as its representative to the California Public Employees' Retirement System Board of Administration.
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