X
GO
CSR | Political Activity
Articles for category CalPERS

Backlog at California's CalPERS fund worse than before new computer system launched

Posted Apr 18, 2012 by   

The line at CalPERS' customer service window is getting longer.

After converting to a half-billion-dollar computer system to process benefits for hundreds of thousands of California public agency retirees last September, backlogs for some services are worse than before the project launched.

The new hardware and software installed by New York-based tech firm Accenture aimed to consolidate 49 old data systems into one when it launched last September, two years late at nearly twice its original $279 million budget. The California Public Employees' Retirement System committed another $6.8 million in December, bringing the total cost to $514 million. The money has come from CalPERS assets, currently valued at $234 billion.

Meanwhile, fund members have complained that a system intended to speed up service and boost efficiency has done the opposite.

 

[Read More...]



GAO Study Highlights Trends in Pension Reform, Challenges Nationwide

Posted Apr 04, 2012 by   

A new study by the U.S. Government Accountability Office provides additional insight into the challenges facing not only California’s pension system, but also public pensions across the country.

[Read More...]



Untouchable Pensions May Be Tested in California

Posted Mar 19, 2012 by   

   When the city manager of troubled Stockton, Calif., had to tell city council members why it was on track to become the biggest American city yet to go bankrupt, it took hours to get through the list.
   There was the free health care for retirees, the unpaid parking tickets, the revenue bonds without enough revenue to pay them. On it went, a grim drumbeat of practically every fiscal malady imaginable, except an obvious one: municipal pensions. Stockton is spending some $30 million a year to pay for them, but it has less than 70 cents set aside for every dollar of benefits its workers expect.
 

[Read More...]



Group suspends California public pension reform ballot effort

Posted Feb 09, 2012 by   

The cause of pension reform in California took a significant body shot Wednesday when a group hoping to put an overhaul measure before voters this year suspended its campaign.

Beleaguered by fundraising problems and questions about the viability of its proposals, California Pension Reform shut down its efforts. The group's officials blamed the demise on a "false and misleading" summary of the plan by Attorney General Kamala Harris, a charge the Democrat denied.

The death of California Pension Reform's efforts also wounded Gov. Jerry Brown's pension proposals to the Democratic-controlled Legislature, one analyst said, by removing the threat of a more draconian measure going before voters.

[Read More...]



Study: Public, private workers' retirement wealth roughly equal

Posted Oct 06, 2011 by   

    A new study by the Center for Retirement Research and Boston College refutes the notion that state and local government workers as a group end up a lot richer than their private sector counterparts.  [Read More...]



Half of Californians will retire in or near poverty

Posted Oct 06, 2011 by   

    Approximately half of California workers will retire in or near poverty, according to a study published Monday by the UC Berkeley Center for Labor Research and Education.  [Read More...]



Open Enrollment runs Oct. 10 to Nov.4

Posted Oct 05, 2011 by   

    The time for CalPERS members to make changes to their health plan or add eligible family members begins Oct. 10 and continues through Nov. 4. In mid-August, CalPERS Open Enrollment packets were mailed to eligible members. [Read More...]



Californians’ retirement prospects grim, forecasts new research

Posted Oct 04, 2011 by   

    Nearly half of California workers will retire in or near poverty, shows a new study released by the University of California, Berkeley’s Center for Labor Research and Education, "California Workers’ Retirement Prospects." 
    While retirement security is and will be a problem in the whole of the nation, the situation is worse in California, because California workers have less access to employer retirement plans than workers in the United States as a whole, according to the study authors.
[Read More...]



Services Available During Conversion of my|CalPERS Central

Posted Sep 09, 2011 by   

CalPERS Sept. 7, 2011 -- CalPERS is consolidating 49 different computer systems into one new integrated system this September. This new system will streamline many CalPERS processes as well as decrease dependency on paper documents. New member self-service capabilities will be introduced in 2012.
[Read More...]



CalPERS Ambassador Recruitment meeting scheduled for Nov. 4

Posted Sep 09, 2011 by   

CalPERS, Sept. 9, 2011

On November 4, 2011, the CalPERS Office of Stakeholder Relations will host a second Northern California recruitment meeting to identify CalPERS beneficiaries for the CalPERS Ambassador Program. The November 4 meeting is a repeat of the popular kick-off meeting held in Sacramento on May 26.

[Read More...]



1 ... 19 20 21 22 23 24 25 26 27 28