CSR News

Senate overhauls doctors' Medicare payments

Posted Apr 15, 2015

Medicare is poised to overhaul the way it pays physicians and create new systems to reward high-performing doctors under legislation approved by the Senate late Tuesday.

The unusually bipartisan bill, which passed the House easily last month, will immediately lift the threat of an automatic 21% cut in Medicare fees to physicians, which was set to take effect Wednesday.

The legislation also marks a milestone in the push to modernize Medicare, the nation’s mammoth federal insurance program for the elderly, and move it away from the traditional system of paying physicians for every procedure they perform.

 

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CSR Legislative Report

Posted Mar 27, 2015

CSR Legislative Report for the 2015-16 Legislative Session

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CSR President Tim Behrens testifies against governor's proposal for a high-deductible health plan

Posted Mar 19, 2015

California State Retirees President Tim Behrens testified at a joint informational hearing on March 18 that the governor's plan to introduce a high-deductible health plan for CalPERS members is "the wrong path to take in addressing high health care costs."

"Such plans shift costs to workers, discourage people from accessing needed health care and would divide [CalPERS] health plans into those for the young and those for the old," Behrens testified before the joint Informational hearinig of the Senate Public Employment and Retirement Committee and the Assembly Public Employees, Retirement and Social Security Committee.

 

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New ballot measure proposed to cut pensions

Posted Mar 11, 2015

LOS ANGELES (Reuters) - A ballot measure campaign to cut California's public pensions will be launched in May by a coalition of politicians and business people led by former San Jose Mayor Chuck Reed, with the state's largest retirement system a prime target.

The measure would take aim at California's $300 billion giant Calpers, which has a near-iron grip on the state's pensions. Calpers, America's largest public pension fund and administrator of pensions for more than 3,000 state and local agencies, has long argued that pensions cannot be touched or renegotiated, even in bankruptcy.

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Cyber attack affects more than 3 million California Anthem customers

Posted Mar 10, 2015

Nearly three weeks after Anthem said it suffered a massive data breach, officials have an estimated tally for the number of Californians affected: 13.5 million residents.

That total includes current and former enrollees in Anthem Blue Cross, plus other California residents covered by other members of the Blue Cross Blue Shield Association through out-of-state employers or similar arrangements, Anthem Blue Cross spokesman Darrel Ng said Tuesday.

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CSR Legislative Report

Posted Feb 25, 2015

The following PDF is a list of Bills that CSR is supporting, opposing, or watching.

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What are your thoughts on PERSpective?

Posted Feb 20, 2015

All CalPERS members are being asked their thoughts on the newly redesigned PERSpective newsletter, which is mailed to members three times a year.

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CalPERS Board elects committee chairs and vice chairs

Posted Feb 19, 2015

CalPERS Board Elects Committee Chairs and Vice Chairs

SACRAMENTO, CA - The California Public Employees' Retirement System (CalPERS) Board of Administration has elected the following chairs and vice chairs of key board committees:

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U.S. ranks 19 among 150 countries for retirement

Posted Feb 19, 2015

The 2015 Natixis Global Retirement Security Index put Switzerland at the No. 1 spot in its annual ranking of the well-being and “life conditions” that pre-retirees and retirees can expect across 150 countries. The prospects for current and aspiring retirees in America is less good: The U.S. is stuck at No. 19, where it’s been for the past three years. That means it beat out No. 20, Slovenia (hurray!), but trails countries including Luxembourg, Iceland, and Belgium.

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Anthem Blue Cross Information

Posted Feb 13, 2015

Here is the link to the Anthem Blue Cross information page regarding the data breach and services being provided by Anthem Blue Cross.

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CSR Legislative Report

Posted Feb 09, 2015

The following PDF is a list of Bills that CSR is supporting, opposing, or watching.

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Lawsuits filed over Anthem data breach

Posted Feb 09, 2015

Class-action lawsuits have been filed in California and two other states against health insurer Anthem over a data breach affecting about 80 million customers, former customers and employees, Modern Healthcare reports.

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Turbo Tax reports data breach, suspends online filings

Posted Feb 06, 2015

WALL STREET JOURNAL -- The nation’s biggest online tax-software company halted electronic filing of all state returns amid reports from states of criminal attempts to obtain refunds through its systems.

Intuit said its TurboTax unit took action Thursday after seeing attempts to use stolen personal information to file fraudulent returns for tax refunds.

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Massive breach at Anthem Insurance Company

Posted Feb 05, 2015

 As many as 80 million customers of the nation's second-largest health insurance company, Anthem Inc., have had their account information stolen, the company said in a statement.

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Governor's health proposal could hurt retirees

Posted Feb 05, 2015

If you’re a state retiree or planning to become one, a piece of Gov. Jerry Brown’s 2015-16 budget proposal could hit your wallet.

The governor’s plan envisions a new high-deductible, lower-premium health insurance policy for state workers. It would be paired with a tax-advantaged health savings account and take effect Jan. 1, 2016.

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Feckner and Jones are elected as CalPERS president and vice president

Posted Jan 21, 2015

The California Public Employees' Retirement System (CalPERS) Board of Administration unanimously re-elected Rob Feckner as Board president and elected Henry Jones as vice president. Feckner will be serving his 11th term as president, while it will be Jones' first vice presidential term.

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Figure in CalPERS corruption case apparently commits suicide

Posted Jan 14, 2015

In failing health and facing up to 30 years in prison, businessman Alfred Villalobos apparently committed suicide before going on trial in connection with the bribery scandal at CalPERS.

Villalobos’ attorneys, appearing at a pre-trial hearing in U.S. District Court on Wednesday, disclosed that Villalobos died the day before. His death ends the government’s criminal case against the Nevada businessman –and largely closes the books on a corruption scandal that roiled the nation’s largest public pension fund.

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Key figure in CalPERS corruption case dies

Posted Jan 14, 2015

The Sacramento Bee reported Jan. 14 that Alfred Villalobos, accused of bribing former CalPERS Chief Executive Officer Fred Buenrostro to influence the fund’s business decisions, has died.

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CalPERS fiscal health improves

Posted Jan 14, 2015

A new report on the fiscal health of CalPERS shows an estimated funding level of 77 percent for the Public Employees’ Retirement Fund (PERF) in 2014 – a positive growth of more than 7 percentage points over 2013. The PERF was funded at 69.8 percent as of June 30, 2013 based on the most recent actuarial value of assets. The PERF is the main pension trust fund that pays retirement benefits.

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CSR's legislative advocate Ted Toppin reviews the governor's proposed budget

Posted Jan 09, 2015

Budget deliberation kicked off in the Capitol this morning with the release of Governor Brown’s proposed 2015-2016 state budget.  He proposes $113.3 billion in general fund and $51.4 billion in special fund expenditures making for a $164.7 billion spending plan.  This represents a 1.4 percent bump over current year spending.

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