2018–19 Annual Performance Report

A Message from Our Chief Executive Officer

Our number one mission at CalPERS is to deliver the benefits our members have earned. We do that by carefully managing our work to achieve the goals in our strategic plan focused on long-term pension and health security for California's public workforce.

The 2018-19 CalPERS Annual Performance Report provides a snapshot of our performance during the fiscal year.* It summarizes how we monitor progress toward achieving our 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 the report with you.

We operate in an open and transparent manner, so members and stakeholders have an opportunity to see where we're having success with the initiatives in our strategic plan and day-to-day work, and where additional support may be needed. Knowing the facts will help you feel more confident that we're doing all we can to make sure your CalPERS benefits will be there when you retire.

Some of this year's performance highlights include:

  • An increase in the overall funded status of the Public Employee's Retirement Fund
  • Outperforming our health care premiums target
  • A significant drop in member opioid dose and duration that is much lower than the national and state averages
  • A reduced complexity score when measured against our peers
  • High satisfaction scores from members and employers for our educational offerings
  • A total of 23 high-potential team members completed the Emerging Leader Program

Where do we go from here? We have refreshed our business plan and are highly focused on supporting the vision of our new chief investment officer to achieve the long-term investment returns we need to continually improve our funded status and reduce risk. We are equally focused on health care affordability and reducing the overuse of ineffective or unnecessary medical care. And we'll continue our efforts to streamline our business processes, reduce risks to the organization, cultivate leadership competencies, and enhance succession plans across the enterprise.

Sincerely,

Marcie Frost
Chief Executive Officer

* This report includes data from current and previous fiscal years due to multi-year data collection cycles.