Sacramento County Grand Jury
• 2009-2010
• Agency Response
California Public Employees Retirement System (CalPERS) Response to 2009-2010
⚠️ Translation Notice: This content has been automatically translated. The original English text is the official version. Translation may contain errors.
⚠️ Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
Findings and Recommendations 1 findings
F3
Page 1
0: ISD Pension awards and Other Post Employment Benefits (OPEB) have increased markedly in the last decade. Some of these awards are unfair and unsustainable. CalPERS is the administrator of employee retirement benefits for the State of California and public agencies that choose to contract with CalPERS. CalPERS does not determine the level of benefits given to employees. State law gives employers and employee groups the ability to change retirement formulas through collective bargaining.
Related Recommendations (1)
R3
Page 1
1: All ISDs should adopt pension and OPEB plans that are fair, affordable and sustainable. CalPERS provides cost information to assist employers in their decision making regarding benefit levels.