Contrary to the Report in the NY Times: CalPERS is an Open Book
September 20, 2016
Contrary to what New York Times reporter Mary Walsh reported in her article, "A Sour Surprise for Public Pensions: Two sets of Books" that appeared on September 17, 2016, CalPERS is an open book.
All contracted public agency actuarial valuation reports are provided directly to the agencies annually and are posted on the CalPERS website for any member of the public and media to search.
These actuarial valuations are an important tool for our employers. They provide the cost of pensions for their public employees and show not only current costs, but provide the employer with a clear fiscal path by showing a projection of costs for the next five years.
The reports also clearly identify the costs of opting to terminate a plan, the same number that the Times said we don’t make public.
CalPERS has and always will be committed to transparency, and posts more than 2,000 actuarial reports for its contracting cities, counties, and local public agencies.