2 hrs ago
UPDATE 2-Calpers dumps hedge funds citing cost, to pull $4 bln stake
The California Public Employees' Retirement System, the largest U.S. pension fund, said on Monday that it will pull all $4 billion it has invested in hedge funds because it finds them too costly and complicated. The $300 billion fund, known as Calpers, invests with firms including Och-Ziff Capital Management, Deepak Narula's Metacapital Management and Bain Capital's Brookside Capital and plans to pull the money out over the next year.
6 hrs ago
CalPERS launches open enrollment for 2015
The California Public Employees' Retirement System kicked off open enrollment Monday for almost 1.4 million state, local government and public school employees, retirees and their families. The California Public Employees' Retirement System kicked off open enrollment Monday for almost 1.4 million state, local government and public school employees, retirees and their families.
Thu Sep 11, 2014
San Bernardino County Sun
City of Yucaipa reaches agreement with managers, supervisors, confidential employees
The employees, who are not part of a union, will see a 3 percent increase this year and the next two years, according to the staff report. The city's contribution to the California Public Employees Retirement System will decrease each year by 1 percent, from 7 percent, over the next three years.
Wed Sep 10, 2014
'Legal pension spiking' will cost California $800 million, audit says
Thousands of California public workers have sweetened their retirement checks with a now-outlawed accounting maneuver that will cost nearly $800 million over two decades, an audit has disclosed. The report by Controller John Chiang this week came as California faces tens of billions of dollars in future pension payments for government retirees that the state doesn't have the money to pay.
Wed Sep 03, 2014
Editorial: Pension spiking alive and well
A key pension reform from 2012 was effectively gutted last week when the California Public Employees' Retirement System decided to include nearly 100 types of supplemental, or specialty, pay awarded to state and local government employees in those workers' pension calculations.
Tue Sep 02, 2014
Villa Park considers ending contract with CalPERS
Villa Park is talking about starting the process to end its pension contract with the California Public Employees' Retirement System.
Fri Aug 29, 2014
Steven Greenhut on California Embracing Pension-Spiking Bonanza
After reading new state rules that detail 99 categories of "special pay" that can be used to spike a public employee's pension, I was tempted to ask my editor for "special deadline pay" for filing columns on time.
Sacramento Bee Newspaper
Endorsement: Leyne Milstein is clearly the best choice for CalPERS board
It's an election that only a select group will decide, but its outcome is crucial to taxpayers across California – as a key decision last week on pensions demonstrates.
Wed Aug 27, 2014
Contra Costa Times
Concord council takes aim at benefits for future elected officials
On Sept. 23, the City Council is scheduled to approve an amendment to Concord's contract with the California Public Employees Retirement System creating a new employee group for any council members and city treasurers elected after Nov. 1. Members of this group would not receive pension benefits.
Fri Aug 22, 2014
Applying for CalPERS Long-Term Care Just Got Easier
The California Public Employees' Retirement System just made it easier for public employees, retirees, and family members to apply for CalPERS Long-Term Care coverage with the launch of a new online application.
The San Diego Union-Tribune
Maybe that boost could also lead to a higher pension calculation. Then again, like most private-sector workers, I don't receive a pension.
CA: Ethics Panel Wants Stiffer Penalty for CalPERS' Priya Mathur
Aug. 22--REPORTING FROM SACRAMENTO -- The state's ethics panel is taking a get-tough stance toward a board member of the nation's biggest government pension fund, who has repeatedly failed to file legally required disclosure reports.
Wed Aug 20, 2014
Governor: CalPERS 'got it wrong' on pension boost
The California Public Employees' Retirement System approved on Tuesday many options for new workers to increase their pensions, including temporary promotions for those holding interim jobs.
Tue Aug 19, 2014
The Fresno Bee
CalPERSa pension rules would OK 99 types of extra pay to count toward pensions
The CalPERS board is considering nearly a hundred types of pay to be considered when calculating pensions for state and local government employees.
Sacramento Bee Newspaper
CalPERS' pension rules would OK 99 types of extra pay to count toward pensions
More than a year after Gov. Jerry Brown signed a law he said would tamp down pension spiking, the state's biggest public pension fund is on the verge of adopting rules critics say would undermine its intent.
Mon Aug 18, 2014
Sacramento Bee Newspaper
Governor, cities criticize pension board proposals
Gov. Jerry Brown and local government officials are warning that the state pension board is making the nation's largest public retirement system vulnerable to abusive practices known as "pension spiking" by misinterpreting reforms for new hires passed two years ago.