CSR News

Retired public workers can count on promised benefits, court says

Posted Nov 22, 2011

Health benefits for government retirees may not be eliminated if state and local governments had clearly promised workers those benefits, the California Supreme Court ruled in an Orange County case Monday.

[Read More...]

Half of Californians will retire in or near poverty

Posted Oct 06, 2011
    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...]

Study: Public, private workers' retirement wealth roughly equal

Posted Oct 06, 2011
    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...]

Open Enrollment runs Oct. 10 to Nov.4

Posted Oct 05, 2011
    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...]

Press Release

Posted Oct 05, 2011
California’s largest state retiree organization has a new name and a new attitude about standing up to public pension critics [Read More...]

Californians’ retirement prospects grim, forecasts new research

Posted Oct 04, 2011
    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...]

Plan to fix its finances thrown into jeopardy.

Posted Sep 28, 2011
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...]

Services Available During Conversion of my|CalPERS Central

Posted Sep 09, 2011
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
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...]

Assembly throws in towel on public pension reform -- for now

Posted Sep 09, 2011
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.

[Read More...]

CalPERS reports best returns in 20 years

Posted Jul 18, 2011
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 Retirement Payments in 2010 Boost California's Economy by $26 Billion

Posted Jul 13, 2011
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.
[Read More...]

Calpers Payments Spur $26 Billion in 2010 Activity in California

Posted Jul 13, 2011
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.

[Read More...]

Board Candidate Forum Video Available Online

Posted Jul 13, 2011
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.
[Read More...]

California pension proposal seeks to hike employee contributions

Posted Jul 12, 2011
From California to Florida, many public employees are paying more for their pensions now than a year ago as strapped state and local governments cast about for savings.

Now a sweeping Republican proposal in the California Senate, among other changes, would hike how much all current and future state and local government workers pay toward their pensions.
[Read More...]

California Budget Deal Leaves GOP out in Cold

Posted Jun 30, 2011
California's legislature passed a Democrat-crafted plan late Tuesday to close a budget gap that initially stood at $27.6 billion—the first time in decades that state lawmakers approved a budget without Republican support in a move that could have far-reaching consequences for California.

The $86 billion spending plan for the fiscal year starting Friday was endorsed Monday by Democratic Gov. Jerry Brown after he earlier vetoed another budget passed by the legislature. The new budget was approved by just over half of each house of the legislature, the first such budget since California voters last year reversed a decades-old law requiring budget approval by two-thirds of lawmakers. The reversal meant the budget could pass with support from only Democrats.

[Read More...]

Brown, Democrats reach budget deal without taxes

Posted Jun 28, 2011
Abandoning negotiations with Republican lawmakers, Gov. Jerry Brown struck a deal with Democrats for a budget that assumes billions of dollars in fresh revenue — but could lead to major service cuts if the money doesn't materialize.

[Read More...]

PERSWatch hosts forum between two candidates July 6

Posted Jun 28, 2011
Michael Bilbrey and Richard Ross – the two candidates in the CalPERS runoff election for a vacant seat on the CalPERS Board of Administration – will face off at an upcoming candidates’ forum. 
[Read More...]

Jerry Brown, Democratic leaders announce budget deal

Posted Jun 27, 2011
Gov. Jerry Brown and Democratic legislative leaders announced today that they have reached an agreement on a new majority-vote budget plan.

"We've had some tough discussions, but I can tell you that the Democrats in both the Senate and the Assembly have now joined with the administration and myself and we have a very good plan going forward with the budget," Brown said at a press conference in his office this afternoon.
[Read More...]

Brown's spokesman calls Republicans 'basically moronic'

Posted Jun 27, 2011
With California's new fiscal year starting Friday and no compromise with the GOP on a budget in sight, Gov. Jerry Brown's chief spokesman called Sacramento Republicans "basically moronic" for failing to strike [Read More...]

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