CSR News

Ballot measure would have voters decide public pension benefits

Posted Jun 04, 2015

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.

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CSR Board Member Jerry Evans passes away

Posted Jun 01, 2015

Longtime CSR Board Member Jerry Evans, who was the District B director and the board’s former executive vice president and vice president, passed away suddenly on May 30.

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CSR Legislative Report - May 22, 2015

Posted May 26, 2015

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

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Justices make it easier to sue over 401 (k)s

Posted May 19, 2015

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.

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Governor unveils revised budget

Posted May 15, 2015

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).

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Henry Jones is unofficially declared retiree representative on the CalPERS board

Posted May 15, 2015

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."

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Pension changes could be dampening the economy

Posted May 13, 2015

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.

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CalPERS wins another bankruptcy ruling

Posted May 13, 2015

Government pensions in California have withstood another fierce challenge in bankruptcy court.

A bankruptcy judge has dismissed a lawsuit filed by two disgruntled bond creditors challenging the city of San Bernardino’s decision to make its pension payments in full to CalPERS.

Ruling from Riverside, U.S. Bankruptcy Judge Meredith Jury tossed the claim filed by the two creditors, Ambac Assurance Corp. and a Luxembourg bank named EEPK.

Last fall the city, which filed for bankruptcy protection in 2012, said it would pay its $24 million-a-year CalPERS bill in full. Ambac and EEPK said that arrangement was unfair to other creditors. Although San Bernardino hasn’t filed its complete repayment plan, it’s likely that many creditors would stand to receive only a portion of what they’re owed.

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San Bernardino to slash retiree health care in bankruptcy plan

Posted May 12, 2015

LOS ANGELES (Reuters) - The southern California city of San Bernardino has proposed virtually eliminating retiree health insurance costs under a bankruptcy exit plan it must produce by May 31, according to an attorney involved in negotiations with city officials.

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CSR Legislative Report

Posted May 06, 2015

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

May 04, 2015 Legislative Report

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Long-term care reform package making its way through Legislature

Posted May 01, 2015

Long-Term Care Reform Package Making Its Way Through Legislature

California legislators are considering a package of 24 bills this session collectively aimed at improving the state's support network for aging services and long-term care.

The bills -- 12 in the Assembly and 12 in the Senate -- deal with a variety of issues involving some of the 112 separate programs for aging and long-term care overseen by 20 different agencies and departments in the state and county governments.

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Chapter Officer and Delegate Election Ballot Instructions

Posted Apr 29, 2015

BALLOT INSTRUCTIONS: Read and follow the instructions carefully to ensure your vote is counted. 

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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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