California’s largest state retiree organization
has
a new name and a new attitude about
standing
up to public pension critics [Read More...]
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.
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Faced with a growing pension burden, Los Angeles Mayor Antonio Villaraigosa and the City Council moved this summer to freeze the amount of healthcare benefits given to thousands of police and firefighters once they retire. Those benefits would not increase in coming years, Villaraigosa said, unless employees contribute more toward retirement from their paychecks. [Read More...]
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.
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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.
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Sacramento Bee Sept. 8, 2011 --Lawmakers essentially threw in the towel Thursday on comprehensive public pension reform - at least for now.
With this year's legislative session scheduled to end at midnight today, the Assembly voted 51-21 to approve a last-minute bill declaring its commitment to pension reform but conceding that more time is needed.
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The California Public Employees’ Retirement System (CalPERS) July 18 reported a 20.7 percent return on investments in preliminary estimates for the one-year period that ended June 30, 2011.
“This is our best annual performance in 14 years,” said Rob Feckner, CalPERS Board President. “For the second straight fiscal year, the Pension Fund exceeded its long-term annualized earnings target [Read More...]
CalPERS benefit payments rippled through the California economy last year, generating $26 billion in economic activity and supporting more than 93,600 jobs across the state, Anne Stausboll, Chief Executive Officer of the California Public Employees' Retirement System, told a Washington, D.C., conference today.
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Benefit payments in 2010 by the California Public Employees’ Retirement System, the largest U.S. public pension, spurred more than $26 billion in economic activity in the state, the fund said in a report.
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CalPERS Board run-off election candidates, Michael Bilbrey and Richard Ross, participated in a candidate forum sponsored by PERSwatch on July 6, 2011. A video of the forum is now available for viewing online via YouTube. Ballot packages for the run-off election were mailed to eligible voters on June 30, 2011.
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