CalPERS Announces Candidates for Fall 2018 Board Election

May 18, 2018

Communications & Stakeholder Relations
Contact: Jeanie Esajian, Information Officer
(916) 795-3991 - 
[email protected]

Public Agency Members to Vote; Two Candidates Run Unopposed

SACRAMENTO, Calif. – CalPERS is conducting one election this fall for the public agency representative seat on the CalPERS Board of Administration. Elections for the school and state board member representative seats will not be conducted since incumbents Theresa Taylor and Rob Feckner were unopposed.

The 13-member CalPERS Board of Administration sets policy for retirement and health benefits on behalf of California public employers, and their active and retired employees. The board also oversees asset allocation of the pension fund's investments. Under the California Constitution, the CalPERS Board has exclusive authority to administer the CalPERS Pension Fund.

Ballots will be mailed August 31 and votes must be received by October 1. Only eligible active public agency members will be able to vote online, by phone, or by mail.

The candidates for public agency member position are:

  • Priya Mathur (incumbent), Bay Area Rapid Transit
  • Jason Perez, Corona Police Department

Taylor represents state members on the board while Feckner represents school members.

A public random drawing will determine the order of the names on the ballot. The drawing will be held on June 5 at 9:00 am at CalPERS Headquarters, Lincoln Plaza North, 400 Q Street, Room 1160, Sacramento, CA.

Information on the upcoming board election and resources for members and candidates are available at www.calpers.ca.gov/boardelection.

 

 

Why Verifying Dependents Matters

 

 

This year, through a partnership with CalHR and CSU, we began an ongoing effort to regularly verify dependent eligibility for enrollment in the CalPERS Health Program. This process is specific to state and CSU employees and retirees, not public agency or school members.

Only eligible dependents should be enrolled for health benefits. Sometimes members mistakenly add dependents who are ineligible, or forget to unenroll dependents who no longer qualify, for example, a spouse or domestic partner who is no longer eligible for health coverage.

The Dependent Eligibility Verification (DEV) process helps ensure everyone on a CalPERS health care plan should be. Dependents include:

·         Spouses

·         Registered domestic partners

·         Natural born children

·         Adopted children

·         Step-children

·         Children of registered domestic partners

Every three years, DEV requires members to submit verification of dependent eligibility, which might include copies of birth certificates, tax returns, etc. If you have at least one enrolled dependent, you will receive a series of three letters reminding you to verify. You have 90 days to submit documentation to your agency’s human resources office for continued dependent coverage.

The first round of verifications began February 2018: We sent notification letters to members with April birthdays. By April 30, we hope to verify approximately 35,000 dependents. In May, we will contact those with July birthdays, and so on, until we cover each birth month over a three-year period. CalPERS will begin notifying retirees later this year, following the same process. All told, 247,969 active and retired state and CSU subscribers with dependents enrolled in the CalPERS health benefits program will need to verify their dependents by 2021.

Members responded well to the DEV pilot program, which kicked off in spring 2015 before the state senate passed SB 98, requiring state and CSU employers to continually verify dependent eligibility. By removing ineligible dependents, the pilot saved an estimated $122 million in costs. The 2018-2021 phase will continue to improve the long-term affordability of member care.

For more information about Dependent Eligibility Verification, visit calpers.ca.gov or call the CalPERS Customer Contact Center at 888 CalPERS (or 888-225-7377).

 

CalPERS Names Elisabeth Bourqui Chief Operating Investment Officer

April 13, 2018

Communications & Stakeholder Relations
Contact: Megan White, Information Officer
(916) 795-3991 - [email protected]

SACRAMENTO, Calif. – The California Public Employees' Retirement System today announced that Elisabeth Bourqui has been selected as Chief Operating Investment Officer (COIO).

As COIO, Bourqui will lead the business and operations functions of the Investment Office. She will provide leadership on matters related to investment policy, and will manage investment compliance, operational risk, and audit-related functions. She will serve as a member of the Investment Office senior management team.

"Elisabeth brings a tremendous depth of global experience to CalPERS," said Ted Eliopoulos, CalPERS chief investment officer. "Elisabeth will strengthen our efforts to innovate, and to integrate business practices across our global investment platform. She will also be instrumental in the implementation of business strategies particularly in private equity and asset allocation."

Bourqui replaces Wylie Tollette, who left CalPERS in December 2017 to rejoin Franklin Templeton. She will begin at CalPERS on May 14, 2018.

Bourqui has more than two decades of experience with pension asset management, consulting, and investment banking. She currently is the head of pension assets and liabilities management at ABB Group. Prior to ABB Group, she was an investment consultant with Mercer specializing in public and private pension funds.

Bourqui holds bachelors and masters degrees in mathematics, and a PhD in mathematics and financial mathematics, from the Swiss Federal Institute of Technology, Zurich. She also is a member of the Swiss Society of Actuaries. She is fluent in French, English, German, and Japanese. In 2017, Bourqui was one of the winners of Chief Investment Officer Magazine's Industry Innovation Award, and was recognized by IPE in its Pension Fund Achievement of the Year category at its annual awards ceremony.

About CalPERS

For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.9 million members in the CalPERS retirement system and administers benefits for more than 1.4 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. CalPERS' total fund market value currently stands at approximately $351 billion. For more information, visit www.calpers.ca.gov.

 

 

Interview with CalPERS CEO

This morning, CalPERS CEO Marcie Frost was interviewed on Capital Public Radio.   In the 15-minute conversation, she discussed the funding and sustainability of the System, and our recent work in collaboration with stakeholders to secure the future of the fund. 

Link to audio interview:  http://www.capradio.org/news/insight/2018/04/12/insight-041218b/

Link to “A Solid Foundation for the Future” document outlining our recent work to strengthen the fund, which is discussed in the interview: https://www.calpers.ca.gov/docs/forms-publications/solid-foundation-for-the-future.pdf

Thank you,

David Teykaerts | Stakeholder Strategy Manager | CalPERS |

 

CalPERS Makes Innovative Health Plan

Change for 2019

March 21, 2018

Communications & Stakeholder Relations
Contact: Bill Madison, Information Officer
(916) 795-3991 - 
[email protected]

New PERS Select plan designed to increase engagement and improve health

SACRAMENTO, Calif. - The California Public Employees' Retirement System Board of Administration today took another step forward to bring innovative health benefits to its members. The board approved a value-based insurance design (VBID) plan for PERS Select.

VBID is designed to improve coordination of care through engagement with a personal doctor and uses incentives to improve member health and wellness.

"This is a major change and innovative way of delivering value-based insurance," said Priya Mathur, the president of the CalPERS Board. "Members still have a choice of plans, and this new PERS Select option encourages enrollees to be more engaged in their own health care, and enables them to make better informed health care decisions."

The new VBID design takes effect as a two-year pilot in the 2019 plan year for the PERS Select Preferred Provider Organization non-Medicare plan.

The board's decision revises the PERS Select PPO non-Medicare plan to a VBID approach that allows a member to choose a personal care physician to coordinate their health care, and ensures they are getting the proper care when needed. The new Select plan will also provide incentives for members to become more involved in their health decisions and earn credits to reduce their annual deductible costs.

Currently, over 50,000 CalPERS members are enrolled in the PERS Select non-Medicare plan. CalPERS estimates that those enrolled in the PERS Select plan will save between $221 and $277 annually on their premiums, for an overall savings of more than $3 million a year. The system estimates a total cost savings of nearly $10 million.

The new plan also allows members in rural areas with no Health Maintenance Organization (HMO) options to have HMO-type support. Currently, 18 counties in California are without an HMO in their area.

"A number of our members live in rural areas where an HMO-like option of having a personal physician will be appreciated," said Rob Feckner, chair of the CalPERS Pension and Health Benefits Committee. "They, too, will have access to a doctor who supports their care and guides them through the health care system, and an opportunity to participate in wellness activities to improve their overall health."

Members in PERS Select can also easily reduce their annual deductible costs by participating in up to five evidence-based health and wellness activities:

  • Get anannual biometric screening
  • Receive anannual flu shot
  • Certify thatthey are non-smokers, or participating in a smoking cessation program
  • Get a secondopinion for non-emergency elective surgeries
  • Engage witha nurse manager for disease management (for those who can be treated bydisease management programs)

Members who participate in the incentives program can save between $500 and $1,000 per year on annual deductibles of $1,000 to $2,000 per year. 

CalPERS will evaluate the PERS Select plan changes quarterly during the two-year period, and report the findings to the Board with recommendations to continue the plan as it is or modify the benefits.

 

CalPERS' Board Incumbents Notice Intention to Run for Re-Election

March 26, 2018

Communications & Stakeholder Relations
Contact: Jeanie Esajian, Information Officer
(916) 795-3991 - [email protected]

Seats Represent State, School, and Public Agency

SACRAMENTO, Calif. – The first step in the CalPERS Board Election process took place today when the official Notice of Election was released, announcing the intent of three current board members to seek re-election. The three seats up for re-election are occupied by Theresa Taylor (state); Rob Feckner (school); and Priya Mathur (public agency). Their four-year terms expire on January 15, 2019.

Taylor is completing her first term, Feckner his fifth term, and Mathur her fourth term. They represent active CalPERS members; thus, only active members are eligible to vote in this election.

The Notice of Election provides the timeline for the fall election, information for members interested in filing to become a candidate for one of these three seats, including eligibility and nomination requirements, and access to various required forms.

Nomination petitions with required signatures, as well as candidate statements, are due by 5 p.m. on May 17. Candidate statement addenda are due by June 4. Ballots will be mailed August 31, and votes must be received by October 1. Results will be announced October 2. Voting online, by phone, and by mail will be available to all eligible active members.

The 13-member CalPERS Board of Administration sets policy and oversees the administration of retirement and health benefits on behalf of California public employers, and their active and retired employees. The board also oversees administration of the pension fund's investments. Under the California Constitution, the CalPERS board has exclusive authority to administer the CalPERS Pension Fund.

A runoff election may be held later in the year if a candidate fails to receive a majority of votes cast in each of the three elections.

Information on the upcoming board election and resources for members and candidates are available at www.calpers.ca.gov/boardelection.

About CalPERS

For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.9 million members in the CalPERS retirement system and administers benefits for more than 1.4 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. CalPERS' total fund market value currently stands at approximately $346 billion. For more information, visit www.calpers.ca.gov.

 

2018 COLA Information

 

Good afternoon,

We wanted to be the first to share with you that the 2018 COLA information has been posted to our website. Retirees can now view the link to determine their COLA amount for 2018. As always, the COLA increase will take effect on April 1, 2018 and will appear on the May 1 warrants. For questions regarding their COLA amount, retirees are encouraged to contact CalPERS directly via their my|CalPERS account, calling us toll free at (888) 225-7377 or by visiting their closest Regional Office.

Thank you,

Jamie Pope | Manager | Strategic Stakeholder Outreach