CalPERS' Board Approves Five-Year Strategic Plan
February 15, 2017
Communications & Stakeholder Relations
Brad W. Pacheco, Deputy Executive Officer
Wayne Davis, Chief, Office of Public Affairs
Contact: Jeanie Esajian, Information Officer
Provides future roadmap for organization through 2022
Sacramento, CA - The California Public Employees' Retirement System (CalPERS) Board of Administration today approved a new five-year strategic plan that will serve as a blueprint for meeting the investment, retirement, and health benefit needs of members and their families into the future.
The plan was the product of a year-long effort by CalPERS Board members, senior leaders, and CalPERS employees, with contributions from employer associations, labor groups, retiree associations, federal representatives, health and investment business partners, and state government officials.
"The ideas and resolve that went into developing this plan represent collaboration, innovation, and thoughtful insights that lay a strong foundation for the years ahead," said Rob Feckner, president of the CalPERS Board.
The 2017-22 Strategic Plan identifies five overarching goals:
- Strengthen the long-term sustainability of the pension fund
- Transform health care purchasing and delivery to achieve affordability
- Reduce complexity across the enterprise
- Cultivate a risk-intelligent organization
- Promote a high-performing and diverse workforce
Within these five goals are 36 specific measures that will be monitored over the life of the plan to track progress. These measures will track a broad range of targets, including employer contribution rates, investment returns, access to primary and specialty health care, prevalence of diabetes diagnosis, benefit payment timeliness, total overhead cost, cyber security risk rating, and workforce diversity.
"The ability we will have to measure our progress over time highlights the strength and maturity of the CalPERS organization and our drive to perform on behalf of our members," said Marcie Frost, CalPERS chief executive officer. "Our desire to track our progress toward achieving our strategic goals and objectives helps demonstrate our transparency and accountability as an organization."
View the complete 2017-22 Strategic Plan (PDF), which includes the refined CalPERS Vision and Mission statements.
For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.8 million members in the CalPERS retirement system and administers benefits for more than 1.4 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. CalPERS' total fund market value currently stands at approximately $310 billion. For more information, visit www.calpers.ca.gov.