Although CalPERS doesn't run the UC retirement plan, at one point CalPERS offered long-term care insurance to UC employees. It seemed to some folks to be a good idea at the time and they took out policies. Long-term care policies can be bought from commercial carriers. The problem is that you have to trust that … Continue reading CalPERS Long-Term Care: What Happens Tomorrow?
With a possible pension initiative coming to the ballot, it would be nice if public pension plans stayed on Good Behavior. Alas:Federal investigators are looking into allegations that CalPERS violated insider trading laws this year when it purchased $26.6 million in restricted stock and then decided it didn’t need to reverse the trades when they were … Continue reading The Rewards of Good Behavior (and the penalties for the reverse)
Yours truly noted with interest this item from the State Worker blog of the Sacramento Bee:CalPERS’ governing board aims to up its collective understanding of everything from financial statements to financial markets with a new set of “core competencies” that will help shape education and training. The policy, which the board is imposing on itself, … Continue reading Core Competencies for Regents?
Don't buy it.Editorial: The pension (and retiree health) initiative on which we have been reporting on this blog sweeps in UC for no particular reason. Yet all the propaganda concerning it so far deals with mayors and cities. UC has no mayor and isn't a city.Were the Regents consulted by initiative proponents? Was anyone at … Continue reading Let’s Start With This Idea on the Pension Initiative: One Size Doesn’t Fit All
We have noted in earlier posts that although UC employees are not covered by CalPERS, at one point in the past, they were offered the "opportunity" to buy long-term care insurance through CalPERS. But then CalPERS began jacking up the cost and, for those who protested, offering inferior alternative policies.CalPERS position is that it didn't … Continue reading The CalPERS Long-Term Care Affair
From time to time on this blog, we have pointed to the issue of privacy and potential ID theft posed by the practice of certain newspapers posting public employee and pensions by name. While courts have seemed to see the handing over of raw payroll data as a required public disclosure, we have noted that … Continue reading Does everything have to be seen?
San Francisco's Poor HouseAs prior blog posts have noted, although UC is not under CalPERS, UC employees - because they were state employees - were invited to enroll in CalPERS' long-term care insurance plan. Such plans ostensibly protect enrollees against potential catastrophic expenses that can be entailed in major health crises. Those who did enroll … Continue reading Hearing CalPERS Rate Hike for Long-Term Care Insurance
Earlier blog posts have noted that CalPERS' premiums for long-term care are going nowhere but up. Another rate hike is being announced with an option instead to move to a lesser-value plan.UC employees and faculty are normally not covered by CalPERS' pension and health care plans. However, as state workers, they were offered the chance … Continue reading Hiking
According to a Bloomberg report, CalPERS' chief actuary is recommending that his fund follow the practice that is currently in place (assuming the Regents continue it) for the UC pension fund. At present, CalPERS follows a fifteen year smoothing period, extremely long, and doesn't get to 100% funding in thirty years. UC has five years … Continue reading Indirect Flattery for UCRP from CalPERS
Back on Feb. 20, we posted a piece on a big CalPERS hike for long-term care insurance. We noted that although UC is not covered by CalPERS, as state employees, UC employees could buy - some might say were encouraged to buy - long-term care insurance through CalPERS. Now premiums are climbing rapidly and some … Continue reading Long-Term Care Cop Out?