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How Are We Doing? Find Out in the Latest CalPERS Annual Performance Report

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See how we’re delivering on promised retirement and health benefits to our 2 million members and their beneficiaries.

In 2017, we introduced the 2017-22 Strategic Plan, which includes the five overarching goals that guide the work we do at CalPERS. We firmly believe that our success as an organization, and ultimately our ability to serve our members, is determined by our success at achieving these five goals.

Our 5 Strategic Goals

  • Fund Sustainability: Strengthen the long-term sustainability of the pension fund.
  • Health Care Affordability: Transform health care purchasing and delivery to achieve affordability.
  • Reduce Complexity: Reduce complexity across the enterprise.
  • Risk Management: Cultivate a risk-intelligent organization.
  • Talent Management: Promote a high-performing and diverse workforce.

You Can’t Manage What You Don’t Measure

The 2018-19 CalPERS Annual Performance Report provides a snapshot of how we monitor our progress toward achieving these strategic goals and operational expectations. You can’t manage what you don’t measure, which is why we’re committed to this process and why we share this report with you.

Report Highlights

  • Funded Status: The funded status of the Public Employees’ Retirement Fund is up from 69.7% as of June 30, 2018, to an estimated 70.4% for June 30, 2019. Funded status is a vital measure of a pension system’s health.
  • Health Care Premiums: Overall health care premiums for 2019 increased by an average of 1.16%, outperforming this year’s target of maintaining less than a 4.97% increase.
  • Member Health: Our efforts to manage opioids are paying off. We saw a significant drop in member opioid dose and duration that is much lower than the national and state averages.

  • Reduced Complexity: We’re a large organization, but large doesn’t have to mean complicated. As part of our focus to lower management fees, reduce complexity, and enhance governance, we decreased our external investment managers to 139, from 144 in the previous fiscal year.
  • Risk Intelligence: We continue our efforts to be a risk-intelligent organization. This means protecting the data of our members and employers is paramount to us. A total of 93% of CalPERS team members are aware of our compliance program and incorporate compliance functions into their daily work.