CalPERS Update: How We Got Here and What’s Next

This webinar took place on October 14, 2021.

For many cities, pension costs are the second-largest budget line item after salaries. CalPERS is currently considering a possible adjustment to the discount rate, which will impact city budgets. This webinar will educate city officials in preparation for the important decisions being made by the CalPERS Board of Administration and bring them up to speed on what is taking place at CalPERS.

CalPERS Chief Executive Officer Marcie Frost, with CalPERS Board Member, League of California Cities Board Member, and Palm Springs City Council Member Lisa Middleton, will give a historical perspective about how we got here and what big issues and decisions are facing the CalPERS system.

Join this webinar to learn about where we were in 2000, the Public Employees' Pension Reform Act, the performance of the investment fund, the recently triggered Funding Risk Mitigation Policy, the ongoing Asset Liability Management Review (conducted every four years by the board), possibilities for further adjusting the discount rate, potential increases for PEPRA member contributions, and a look at the impacts on future employer rates.

Moderator:

Leyne Milstein – Assistant City Manager, City of Sacramento

Presenters:

Marcie Frost – CalPERS Chief Executive Officer

Lisa Middleton – Mayor Pro Tem, City of Palm Springs, CalPERS Board of Administration

Watch the webinar