The California Public Employees’ Retirement System is an agency in the California executive branch that “manages pension and health benefits for more than 1.6 million California public employees, retirees, and their families”.
The average monthly pension payout for new retirees in California’s primary public pension system doubled between 1992 and 2012. [Sacramento Bee] The average monthly payment for new retirees in the California Public Employees Retirement System (CalPERS) increased from approximately $1,500... (Continue reading)
Tens of thousands of people are receiving benefits improperly from CalPERS, the nation’s second-largest health insurance provider, officials of which have announced a series of detailed audits to stem the problem. (Sacramento Bee) The insurer believes that at least 22,000... (Continue reading)
Two days after announcing its plan to unveil a public database containing pension information for all retirees in its system, the California Public Employees’ Retirement System chose to delay the creation of the database. [Sacramento Bee] CalPERS said Wednesday that... (Continue reading)
In a few more days, California’s gargantuan public retirement system will be an open book — or database — when CalPERS unveils information on individual retirees’ pensions and benefits. (Sacramento Bee) Elements considered public information includes pensioners’ names; their monthly... (Continue reading)
By JOSH FRIEDMAN The city of San Luis Obispo may turn to debt financing to address its growing pension liabilities. During a two-year budgeting meeting Monday, interim finance director Wayne Padilla said city management is considering recommending that the council... (Continue reading)
By JOSH FRIEDMAN In a span of ten years, the city of San Luis Obispo has gone from having no pension debt to becoming more than $100 million in the red in its retirement benefit plans. Between fiscal years 2001-2002... (Continue reading)
The city of San Bernardino owes $143.3 million to the California Public Employees Retirement System placing CalPERS at the top of the city’s creditor list. [Press-Enterprise] CalPERS, which runs a $234 billion pension system for more than 1.6 million state... (Continue reading)
Representatives of the state retirement system say they are standing by JPMorgan Chase for now despite a recent $2 billion trading loss that has sparked two federal investigations and reignited calls for tougher bank oversight. [CaliforniaWatch] Both the California State... (Continue reading)
Same-sex spouses and partners are entitled to long-term care insurance coverage from CalPERS, a federal judge ruled Friday. [Sacramento Bee] U.S. District Court Judge Claudia Wilken scrubbed part of the federal Defense of Marriage Act, defining marriage as between a... (Continue reading)
A two-tiered pension system has been adopted by the Atascadero City Council in what city officials term a “cost containment measure.” Current public safety officers can still retire at age 50, and these employees receive a pension computed on last... (Continue reading)
