Articles for category CalPERS
Sacramento Bee -- Thousands of calls to California’s Medi-Cal complaint lines don’t get through, and thousands more that manage to ring the call center go unanswered, according to a new state audit.
For the year that ended in January 2015, the phone system to the Medi-Cal Ombudsman Office rejected up to 45,000 calls in a month, State Auditor Elaine Howle said in her report to lawmakers.
The following PDF is a list of Bills that CSR is supporting, opposing or watching.
"Inadequate financial preparation for retirement is a growing national concern. Defined benefit plans are the most cost-efficient way to save for retirement and should remain an important tool in retirement planning. All employees – whether in the public or private sectors – should have effective means to pursue retirement security," CalPERS said in a statement issued June 4.
Fuzzy Math Continues To Drive Public Pension Hysteria
By Association of Deputy District Attorneys Board of Directors
Public employee pension systems are an integral part of recruiting and retaining high-performing public employees. They align the interests of the employer and the employee. A pension allows attorneys to work for the county District Attorney despite the prospect of a higher income in private practice. Once hired, DDAs have an incentive to stay during the most productive years of their career; and at the end of that career, DDAs can leave the office rather than cling to the job because it is their only source of income.
For the third time in four years, advocates for altering public pensions have a plan they want to put to a statewide vote.
But this time the proposal by pension-change advocates Chuck Reed and Carl DeMaio has a new twist: Pensions and other retirement benefits themselves would automatically become a matter of ballot-box politics by requiring voter approval any time government officials sought to upgrade benefits.
The following PDF is a list of Bills that CSR is supporting, opposing, or watching.
WASHINGTON (AP) — The Supreme Court ruled unanimously Monday in favor of participants in employee retirement plans who object to companies' investment decisions that eat into retirement savings.
The justices revived claims by current and former employees of energy company Edison International. The employees argued that the company chose mutual funds with excessive fees.
On Thursday, Gov. Jerry Brown (D) released the revised version of his fiscal year 2015-2016 budget plan, which includes several health care proposals, the Los Angeles Times reports.
The revised $169 billion budget is more than $4 billion larger than the original proposal unveiled in January (Megerian, Los Angeles Times, 5/14). The revised plan would increase health and social services spending by about $1.7 billion (Richman, San Jose Mercury News, 5/14).
Henry Jones has been declared the unofficial winner in the 2015 election of the retired member representative seat on the California Public Employees' Retirement System (CalPERS) Board of Administration. There was no opposition to Jones' re-election and pending certification of the election by California's Secretary of State, he will begin a new four-year term of service on the Board on January 16, 2016.
"I'm honored to serve another term and represent our retirees," said Jones, CalPERS Vice President. "I look forward to continuing to work in my leadership role alongside my colleagues on the Board to ensure the long-term sustainability of the pension fund and our health care program."
Some pension program changes, such as the shift to defined contribution plans from defined benefit plans, might be widening the income gap and dampening economic growth, said a new report from the National Conference on Public Employee Retirement Systems.
There are conversations about income and equality, but few touch on the treatment of pensioners and how that contributes to income inequality, said Hank Kim, Washington-based, executive director and counsel at NCPERS and co-author of the report.
In the private sector, there has been a shift to DC plans from DB plans. Between 1975 and 2011, the number of private sector DB plans declined by 57% and the number of employees covered by DB plans declined 10%, NCPERS’ research found.