August 15, 2012
External Affairs Branch
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
CalPERS Board Approves Five-Year Strategic Plan
SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) Board of Administration today approved a new five-year strategic plan that will serve as a blueprint for meeting the retirement and health benefits needs of CalPERS members and their families.
CalPERS leadership, staff and a wide range of stakeholders participated in the eight-month process to produce the 2012-17 CalPERS Strategic Plan.
“This is an important milestone for our organization and is a testament to the collaboration, innovation and thoughtful thinking of our Board, staff and stakeholders,” said Rob Feckner, President of the CalPERS Board of Administration.
The Strategic Plan identifies three overarching goals: improving long-term pension and health benefit sustainability; cultivating a high performing, risk intelligent and innovative organization; and engaging in state and national policy development to enhance the long-term sustainability and effectiveness of programs. These goals will also guide the development of future two-year business plans that are designed to align day-to-day operations with the broad objectives of the five-year Strategic Plan.
Some of the specific initiatives call for CalPERS to:
- Actively manage and assess funding risk through an asset liability management framework that guides investment strategy and actuarial policy
- Expand member and employer access to information regarding the cost and quality of health care and ways to impact those trends
- Establish partnerships that focus on increasing public and private sector focus on wellness
- Develop and implement a comprehensive talent management strategy that includes recruitment, knowledge transfer and succession planning
- Establish principles and beliefs to guide public policy engagement by the System.
"The initiatives in this Strategic Plan provide a high-level frame of reference to guide daily activities and anticipate risks and opportunities, and help CalPERS articulate what is important to us and our members,” said Anne Stausboll, Chief Executive Officer. “Working closely with our stakeholders we will review our Plan annually so it remains relevant through the years ahead.”
CalPERS, with assets of approximately $237 billion, is the largest public pension fund in the U.S. It administers retirement benefits for more than 1.6 million California State, local government, and public school employees, retirees, and their families on behalf of more than 3,000 public employers, and health benefits for more than 1.3 million enrollees. The average CalPERS pension benefit is $2,332 per month. The average benefit for those who retired in the fiscal year that ended June 30, 2011 is $3,065 per month. More information about CalPERS is available at www.calpers.ca.gov.