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CalPERS Delays Adoption of Controversial Decision as Precedential

CSDA member’s voices have been heard and CalPERS has again delayed taking action that could impose significant new pension liability on retired annuitants and public agencies. CalPERS deferred bringing consideration of the Administrative Law Judge’s (ALJ) decision in the Lang matter as...

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TAKE ACTION: CalPERS Decision Affecting Retired Annuitants

TAKE ACTION : CalPERS Decision Affecting Retired Annuitants CSDA is asking for special districts to send comment letters to the CalPERS Board opposing the action before an October 23 deadline . At CalPERS’ next board meeting November 16-18, 2020, the board will consider adopting the...

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Governor Urges State Retirement Systems to Change Their Investment Strategies

Last week, as part of Climate Week 2020, Governor Gavin Newsom announced that the California Department of Finance released their report titled “ California Climate Investment Framework ” in response to an Executive Order the Governor issued in 2019. The report provides “an investment strategy...

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CalPERS Chief Investment Officer Yu (Ben) Meng Resigns

Yesterday, CalPERS Chief Investment Officer Yu (Ben) Meng Resigned effective August 5, 2020. Dan Bienvenue, deputy chief investment officer, will serve as interim chief investment officer. CalPERS will start an immediate search for a permanent successor. Click here for CalPERS’ press release...

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CalPERS Releases Preliminary Investment Returns for 2019-2020 year

Today, CalPERS reported that their preliminary net return on investments for the 2019-2020 fiscal year was 4.7%. Based on this return, CalPERS reports that the overall funded status of the retirement fund is 70% (based on a 7% discount rate). The fund has total assets of approximately $389...

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CalPERS Investment Returns Announcement and Subsequent Webinar

Tomorrow, CalPERS plans to announce their annual fiscal year investment returns at their monthly board meeting at approximately 9:00 AM. The announcement can be watched live via the CalPERS meeting webcast here . It is anticipated that CalPERS will be announcing that they did not achieve their...

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CalPERS Launches Pension Calculation Tool

Today, CalPERS announced launching their pension calculation tool called "Pension Outlook." According to CalPERS, "Pension Outlook is a tool to help plan and budget pension costs into the future with easy to understand results and charts." The tool will allow you to view projected funded...

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Legislature Passes State Budget

Last week, the California State Legislature moved to approve the state’s budget package, Assembly Bill 89 , which was signed by the Governor yesterday. Previously, both chambers had passed a “placeholder” budget on June 15 to meet a constitutionally-mandated deadline. In addition to AB 89, the...