CalPERS

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20h
Business Wire
Fitch Affirms Oakland, CA's POBs & JPFA Revs at 'A'; Outlook Stableto be issued as existing debt rolls off. The city makes full actuarially-deter
Fitch Affirms Oakland, CA's POBs & JPFA Revs at 'A'; Outlook Stable
Business Wire / Posted 20 hours ago
to be issued as existing debt rolls off. The city makes full actuarially-determined annual contributions to state-funded CalPERS retirement plans for public safety and miscellaneous personnel. CalPERS is mandating increasing employer... Read more
3 related stories
4d
Lake Tahoe News
Political jargon means little without actionFund revenue growth, not in percentages but in actual dollars, by about $4 mill
Political jargon means little without action
Lake Tahoe News / Posted 4 days ago
Fund revenue growth, not in percentages but in actual dollars, by about $4 million annually and growing. And with the poor CalPERS pension performance that number of $4 million will grow considerably. In other words, even without a new salary... Read more
4d
Orange County Register
California close to requiring retirement plans for all businesses with at least five workerscalled for guaranteed investment returns in Secure Choice have been scaled back
California close to requiring retirement plans for all businesses with at least five workers
Orange County Register / Posted 4 days ago
called for guaranteed investment returns in Secure Choice have been scaled back in the face of longstanding troubles at CalPERS, California’s big pension system for government workers. CalPERS’ generous guaranteed benefits have led to grief in... Read more
4d
The Valley Chronicle
Hemet: Weak coaches = losing teamteams. Furthermore, I've been lobbying our newspaper association to create a te
Hemet: Weak coaches = losing team
The Valley Chronicle / Posted 4 days ago
teams. Furthermore, I've been lobbying our newspaper association to create a team of investigative journalists to dig into CalPERS, your pension, which has gone from being fully-funded to massively unfunded. Last month a former CalPERS CEO was... Read more
5d
The Record Searchlight
Sept. 8 forum will put focus on Redding public pensionsto the monies that was suppose to go to fund the liabilites and why they prefer
Sept. 8 forum will put focus on Redding public pensions
The Record Searchlight / Posted 5 days ago
to the monies that was suppose to go to fund the liabilites and why they preferred to leave Social Security and go with CalPERS. Then ask Mike Warren why we ended up with PARS. While he is at it he should demand Starman and the rest of the... Read more
5d
The Record Searchlight
Sept. 8 forum will put focus on Redding public pensionsof the California Public Employees' Retirement System. The study surveys 1 perc
Sept. 8 forum will put focus on Redding public pensions
The Record Searchlight / Posted 5 days ago
of the California Public Employees' Retirement System. The study surveys 1 percent of the 1,500 agencies that are part of CalPERS. Redding is one of the 15 cities selected for the analysis. The entire project, which looks at big and small... Read more
5d
Crain's New York Business
State comptroller looks to ease off hedge fundscity public pension fund NYCERS voted to get out of hedge funds last month. Cal
State comptroller looks to ease off hedge funds
Crain's New York Business / Posted 5 days ago
city public pension fund NYCERS voted to get out of hedge funds last month. California's mammoth and trendsetting CALPERS ditched them in 2014. DiNapoli said he had been influenced "certainly because of seeing some of the actions that... Read more
5d
The Mercury News
Pension board drops convicted Contra Costa firefighter's annual payment from $116K to $30Kcommitted his first crime against the fire department in January 2000, he lost
Pension board drops convicted Contra Costa firefighter's annual payment from $116K to $30K
The Mercury News / Posted 5 days ago
committed his first crime against the fire department in January 2000, he lost 13 years credit. Before Wilmot, former CalPERS CEO Fred Buenrostro pleaded guilty to a job-related conspiracy charge in September 2014, and his pension was reduced... Read more
6d
Naked Capitalism
CalPERS Board, General Counsel Illegally Silence Naked Capitalism Even as We Try to HelpAt CalPERS’ latest Investment Committee meeting, the committee chairman, Henry
CalPERS Board, General Counsel Illegally Silence Naked Capitalism Even as We Try to Help
Naked Capitalism / Posted 6 days ago
At CalPERS’ latest Investment Committee meeting, the committee chairman, Henry Jones, cut our public comment off illegally, over the objection of board member JJ Jelincic. This action took place despite the fact that the California agency has been... Read more
7d
The Sacramento Bee
California court opens door to changing public employee pensionsa bankruptcy action because “bankruptcy is nothing but the impairment of contra
California court opens door to changing public employee pensions
The Sacramento Bee / Posted 7 days ago
a bankruptcy action because “bankruptcy is nothing but the impairment of contracts.” Klein’s declaration caused tremors in CalPERS, which claimed that, Klein’s declaration notwithstanding, reducing pensions would be illegal because it’s a state... Read more
2 related stories
8d
Desert Dispatch
Burning issue"Big Bear is about to pull out of SBCERA and transfer its members to the Califo
Burning issue
Desert Dispatch / Posted 8 days ago
"Big Bear is about to pull out of SBCERA and transfer its members to the California Public Employees Retirement System (CalPERS)."The fire district, in its statement, said it recognizes that the increasing pension rates are unsustainable for the... Read more
8d
The Sacramento Bee
Arena? Check. Now where’s the rest of promised downtown development?tower that would be the city’s second-tallest building. The Los Angeles develop
Arena? Check. Now where’s the rest of promised downtown development?
The Sacramento Bee / Posted 8 days ago
tower that would be the city’s second-tallest building. The Los Angeles developer is partnering with property owner CalPERS on the project and appears to be moving at a cautious pace, saying it is seeking office tenants before committing to... Read more
8d
Naked Capitalism
CalPERS' Tainted Fiduciary Counsel Robert Klausner Departs After NC Publicizes His Dubious Historyalso superfunded while the underlying pension fund was one of the most underfun
CalPERS' Tainted Fiduciary Counsel Robert Klausner Departs After NC Publicizes His Dubious History
Naked Capitalism / Posted 8 days ago
also superfunded while the underlying pension fund was one of the most underfunded in the state. In fairness to the board, CalPERS’ legal department, which did the screening of fiduciary counsel candidates, misled the board by withholding... Read more
12d
Naked Capitalism
Hedge Funds Get More Pushback on Terms as Enthusiasm for Strategy Wanesmoney to hedge funds. “Hopefully that will change as it gets harder and harder
Hedge Funds Get More Pushback on Terms as Enthusiasm for Strategy Wanes
Naked Capitalism / Posted 12 days ago
money to hedge funds. “Hopefully that will change as it gets harder and harder to raise capital.” As we’ve discussed, and CalPERS confirmed in its private equity workshop last fall, private equity contracts are “take it or leave it” affairs, with... Read more
13d
Orange County Register
Newport Beach council candidates state case at forumshould stay the course and continue making the accelerated payments. Lowrey sai
Newport Beach council candidates state case at forum
Orange County Register / Posted 13 days ago
should stay the course and continue making the accelerated payments. Lowrey said city leaders should find an exit out of CalPERS and find fund more beneficial to the city and employees. All agreed that a byproduct of the city’s proximity to the... Read more
13d
The Record Searchlight
Supporters kick off campaign in support sales tax hikehappened with Measure A, which got city employees to pay a portion of their Cal
Supporters kick off campaign in support sales tax hike
The Record Searchlight / Posted 13 days ago
happened with Measure A, which got city employees to pay a portion of their California Public Employees' Retirement System (CalPERS) pensions. "They got employees to pay a small part toward retirement and then off-set it with pay raises," Jones... Read more
2 related stories
13d
Marin Independent Journal
Marin IJ Readers’ Forum for Aug. 17Superior Court, Marin City Community Services District, Southern Marin Fire Pro
Marin IJ Readers’ Forum for Aug. 17
Marin Independent Journal / Posted 13 days ago
Superior Court, Marin City Community Services District, Southern Marin Fire Protection District and Novato Fire District. CalPERS covers the rest of the county governments — cities, agencies and special districts — and CalPERS uses a 7.5 percent... Read more
15d
The Sacramento Bee
PUC to discuss new Sacramento area codeDiablo Canyon nuclear power plant A PENNY SAVED: The Board of Administration o
PUC to discuss new Sacramento area code
The Sacramento Bee / Posted 15 days ago
Diablo Canyon nuclear power plant A PENNY SAVED: The Board of Administration of California’s public employee pension fund, CalPERS, is beginning a three-day meeting on Monday. Among other things, the board’s investment committee is expected to... Read more
2 related stories
15d
Orange County Register
Don't shoot the messenger on pensionsRe: “Public retirees with pensions over $100,000 a growing group” [News, Aug. 9
Don't shoot the messenger on pensions
Orange County Register / Posted 15 days ago
Re: “Public retirees with pensions over $100,000 a growing group” [News, Aug. 9]: Don’t shoot the messenger CalPERS, CalPERS didn’t load up the system with 1.7 million current and future retirees. It’s the inmates running the asylum that are loading... Read more
16d
Lake Tahoe News
Calif. public retirees with $100K pensions growingEmployees’ Retirement System. A decade later, membership in the so-called $100
Calif. public retirees with $100K pensions growing
Lake Tahoe News / Posted 16 days ago
Employees’ Retirement System. A decade later, membership in the so-called $100K Club had swelled by nearly 20,000 souls. CalPERS data provided to the conservative-leaning group Transparent California, and analyzed by the Register, found that... Read more
17d
Business Wire
Fitch Rates Redwood City SD, CA's $60MM Unlimited Tax GOs 'AAA'; Outlook Stablethe next few years to improve their funded ratios. As of June 30, 2016, the dis
Fitch Rates Redwood City SD, CA's $60MM Unlimited Tax GOs 'AAA'; Outlook Stable
Business Wire / Posted 17 days ago
the next few years to improve their funded ratios. As of June 30, 2016, the district's proportionate share of CalSTRS' and CalPERS' net pension liabilities was $64 million (assuming 7.6% and 7.5% discount rates, respectively). Using Fitch's more... Read more
14 related stories
18d
The Valley Chronicle
Hemet audit identifies instances of ineffective and inefficient managementdue to the city's enormous unfunded pension liability. An unfunded pension liab
Hemet audit identifies instances of ineffective and inefficient management
The Valley Chronicle / Posted 18 days ago
due to the city's enormous unfunded pension liability. An unfunded pension liability is the difference between the amount CalPERS expects an entity will need to pay for all benefits earned by retirees and the fiduciary net position of the plans,... Read more
19d
Orange County Register
It has been a pleasure to serve IrvineForest Public masters Re: “Public retirees with pensions over $100,000 a grow
It has been a pleasure to serve Irvine
Orange County Register / Posted 19 days ago
Forest Public masters Re: “Public retirees with pensions over $100,000 a growing group” [News, Aug. 9]: Teri Sforza’s CalPERS article on data showing a dramatic increase in public retirees receiving over $100k should make it clear that... Read more
19d
Orange County Register
The $100k club adds new membersto 16,838 by the end of 2013. Incidentally, the growth of the $100k club came
The $100k club adds new members
Orange County Register / Posted 19 days ago
to 16,838 by the end of 2013. Incidentally, the growth of the $100k club came during a period of significant downturn in CalPERS funding levels, the ballooning of unfunded liabilities and growing costs for state and local governments... Read more
19d
Orange County Register
Not fair! Public pension figures for '$100K Club' hit a nerveRetirement System. Back in 2005, just 1,841 retirees pulled down more than $10
Not fair! Public pension figures for '$100K Club' hit a nerve
Orange County Register / Posted 19 days ago
Retirement System. Back in 2005, just 1,841 retirees pulled down more than $100,000 a year in pension checks from CalPERS. In 2015, the $100K Club had exploded to 21,652 members, our analysis found. HOW MUCH PIE? Said one reader: “I was... Read more
19d
KRCR TV Redding
Measures D and E on the November ballot in Reddingtowards keeping citizens safe. “The money from this sales tax is going to go t
Measures D and E on the November ballot in Redding
KRCR TV Redding / Posted 19 days ago
towards keeping citizens safe. “The money from this sales tax is going to go to unfunded and underfunded pension costs for calPERS and PARS,” said Cadd. calPERS and PARS are retirement programs that Cadd said consistently increases demand in... Read more
20d
Naked Capitalism
Even Endowments Like Harvard,Former Top Investors in Hedge and Private Equity Funds, No Longer Beat Boring Stocks and Bonds\We’ve criticized CalPERS for sticking with investment strategies long past the
Even Endowments Like Harvard,Former Top Investors in Hedge and Private Equity Funds, No Longer Beat Boring Stocks and Bonds
Naked Capitalism / Posted 20 days ago
\We’ve criticized CalPERS for sticking with investment strategies long past their sell-by date. Our very first post, in December 2006, pointed out that CalPERS had admitted that it wasn’t getting adequate performance from hedge funds. Yet CalPERS... Read more
20d
Naked Capitalism
Bill Gross Chides CalPERS for Its 7.5% Returns Assumption; Illinois Set to Lower TargetMore and more experts are criticizing CalPERS and other public pension funds fo
Bill Gross Chides CalPERS for Its 7.5% Returns Assumption; Illinois Set to Lower Target
Naked Capitalism / Posted 20 days ago
More and more experts are criticizing CalPERS and other public pension funds for sticking with outdated, unrealistic return assumptions in the light of the “new normal” of post-crisis super-low and even negative policy interest rates. The latest to... Read more
3 related stories
21d
Orange County Register
The '100K Club' - public retirees with pensions over $100,000 - are a growing groupEmployees’ Retirement System. A decade later, membership in the so-called $100
The '100K Club' - public retirees with pensions over $100,000 - are a growing group
Orange County Register / Posted 21 days ago
Employees’ Retirement System. A decade later, membership in the so-called $100K Club had swelled by nearly 20,000 souls. CalPERS data provided to the conservative-leaning group Transparent California, and analyzed by the Register, found that... Read more
21d
Crain's Chicago Business
Bill Gross' advice starts to click for an Illinois pension fundon bonds have remained low as stock prices have brought strong returns some yea
Bill Gross' advice starts to click for an Illinois pension fund
Crain's Chicago Business / Posted 21 days ago
on bonds have remained low as stock prices have brought strong returns some years and more modest returns in other years. Calpers earned 0.6 percent in the fiscal year ended June 30, with an average gain of 5.1 percent over 10 years. Illinois is... Read more
3 related stories
24d
Orange County Register
For pensions systems, past performance is no guarantee of future resultssystems saw big investment returns for a few years as the stock market rose and
For pensions systems, past performance is no guarantee of future results
Orange County Register / Posted 24 days ago
systems saw big investment returns for a few years as the stock market rose and recovered from the 2008 crash. CalPERS got astronomical returns of 13.2 percent in 2013 and 18.4 percent in 2014, but those past results weren’t guaranteed... Read more
24d
Business Wire
Fitch Rates Los Angeles USD, CA's $455M Unlimited Tax GOs 'AAA'; Outlook Stablethe next few years to improve their funded ratios. At June 30, 2015, the distri
Fitch Rates Los Angeles USD, CA's $455M Unlimited Tax GOs 'AAA'; Outlook Stable
Business Wire / Posted 24 days ago
the next few years to improve their funded ratios. At June 30, 2015, the district's proportionate share of CalSTRS' and CalPERS' net pension liabilities was $4.5 billion (assuming 7.6% and 7.5% discount rates, respectively). Using Fitch's more... Read more
8 related stories
25d
Pasadena Weekly
UPDATED: Picnic Protestof Hearst Castle, nor to bring in city of Pasadena General Fund money to help t
UPDATED: Picnic Protest
Pasadena Weekly / Posted 25 days ago
of Hearst Castle, nor to bring in city of Pasadena General Fund money to help the city pay off the bad investments of CalPERS (California Public Employees Retirement System),” said Marsha Rood, a member of the CCC. Under the current plan, the... Read more
25d
Zero Hedge
"Mystery" Buyer Revealed: Swiss National Bank's US Stock Holdings Rose 50% In First Half, To Record $62BNknow, is Apple. In fact, with its latest holdings of 15.6 million in AAPL share
"Mystery" Buyer Revealed: Swiss National Bank's US Stock Holdings Rose 50% In First Half, To Record $62BN
Zero Hedge / Posted 25 days ago
know, is Apple. In fact, with its latest holdings of 15.6 million in AAPL shares, the central bank is a bigger holder than Calpers, Janus, Invesco, Oppenheimer, Franklin Resources, Morgan Stanley and hundreds more. Shortly, we will show the just... Read more
26d
Pasadena Weekly
Picnic Protestof Hearst Castle, nor to bring in city of Pasadena General Fund money to help t
Picnic Protest
Pasadena Weekly / Posted 26 days ago
of Hearst Castle, nor to bring in city of Pasadena General Fund money to help the city pay off the bad investments of CalPERS (California Public Employees Retirement System),” said Marsha Rood, a member of the CCC. Under the current plan, the... Read more
26d
Naked Capitalism
CalPERS Admits to Guilt in Misleading Beneficiaries and Taxpayers About Its Returns by Changing Report After Being Called OutAnd what has CalPERS done? Quickly edited its site to try to maintain the prete
CalPERS Admits to Guilt in Misleading Beneficiaries and Taxpayers About Its Returns by Changing Report After Being Called Out
Naked Capitalism / Posted 26 days ago
And what has CalPERS done? Quickly edited its site to try to maintain the pretense that its return targets are achievable, when in fact we are in a “new normal” that is punitive to long term investors, be they pension funds, insurers, or... Read more
28d
Naked Capitalism
A New Low: The New York Times' Children's Bedtime Story of Private Equityreporting. The biggest single investor group in private equity is government in
A New Low: The New York Times' Children's Bedtime Story of Private Equity
Naked Capitalism / Posted 28 days ago
reporting. The biggest single investor group in private equity is government investors, meaning public pension funds like CalPERS. Historically, the next biggest group has been private pension funds, but recent news stories suggest that sovereign... Read more
28d
The Mercury News
Editorial: Put San Jose Measure B reforms on the ballot (Mercury Newsthe same time, it's become clear that some of Measure B's provisions won't hold
Editorial: Put San Jose Measure B reforms on the ballot (Mercury News
The Mercury News / Posted 28 days ago
the same time, it's become clear that some of Measure B's provisions won't hold up in court; that Bay Area cities in CalPERS retirement plans aren't being forced to deal with that system's growing unfunded liability, which would level the... Read more
28d
Marin Independent Journal
Marin IJ Readers’ Forum for Aug. 2of the flooding. Obviously, our politicians are unwilling or incapable of doin
Marin IJ Readers’ Forum for Aug. 2
Marin Independent Journal / Posted 28 days ago
of the flooding. Obviously, our politicians are unwilling or incapable of doing so. — Thomas J. Harbinson, Ross CalPERS should have much better returns I fundamentally disagree with all the recent letters regarding CalPERS’... Read more
29d
The Sacramento Bee
California pension funds caught in ever-tighter income-outgo squeezeincrease in state employee pension benefits, which was quickly emulated by hund
California pension funds caught in ever-tighter income-outgo squeeze
The Sacramento Bee / Posted 29 days ago
increase in state employee pension benefits, which was quickly emulated by hundreds of local governments. At the time, CalPERS was ringing up big earnings from the 1990s’ bullish stock market – so big that it had reduced contributions from... Read more
1m
The Sacramento Bee
CalPERS is well prepared for market’s ups and downschanging the discount rate affects the pension contributions of the state of Ca
CalPERS is well prepared for market’s ups and downs
The Sacramento Bee / Posted a month ago
changing the discount rate affects the pension contributions of the state of California and local agencies that belong to CalPERS. But we designed the policy to minimize any increases and recognize the financial difficulties that many local... Read more
m
The Sacramento Bee
California’s ignored pension crisis is only getting worsePublic Employees’ Retirement System show it failed to make enough money to meet
California’s ignored pension crisis is only getting worse
The Sacramento Bee / Posted 1 months ago
Public Employees’ Retirement System show it failed to make enough money to meet its obligations in the last fiscal year. CalPERS is now more than $100 billion short of having enough money to pay pension obligations for government workers and... Read more

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