Latest CalPERS Stories

The California State Teachers' Retirement System (CalSTRS) today launched a search for a consultant team to research, design and implement a best practice model for pension accounting and to provide CalSTRS employees transition support and training in its operation. The final filing date for proposals is Sept. 8, 2008, with the selection expected to be in October. The request for proposals is available for viewing on the CalSTRS Web site at www.calstrs.com/rfp. The contract period is...

By Tim Moran, The Modesto Bee, Calif. Jul. 23--Stanislaus County's employee retirement fund lost $142 million in the budget year that ended June 30 -- including $94 million in June, according to County Supervisor Jim DeMartini, who sits on the Stanislaus County Employee Retirement Association's policy board. For the year, the county retirement fund lost 9.83 percent of its $1.44 billion portfolio. "We had a miserable year this year," DeMartini told the Board of Supervisors on Tuesday...

With a resolution, a letter of congratulations - and a cake - the California Legislature and Governor Schwarzenegger's office today recognized the California State Teachers' Retirement System's (CalSTRS) 95 years of service in support of the state's educators. The recognition took place during the Teachers' Retirement Board meeting at CalSTRS' East Sacramento headquarters with representatives from the Governor's Office and from the offices of State Senator Patricia Wiggins and Assemblyman...

By Jon Ortiz, The Sacramento Bee, Calif. Jul. 2--The California Public Employees' Retirement System this morning reached a $895 million settlement in a 2-year-old class-action lawsuit against UnitedHealth Group, a Minneapolis-based health insurer, over the backdating of stock options. The settlement is believed to be the largest of its kind. CalPERS and Alaska Plumbing and Pipefitting Industry Pension Trust were the lead plaintiffs in a the lawsuit filed in Minnesota federal court over the...

UnitedHealth Group (NYSE:UNH) announced today a revision in its outlook for 2008, following an assessment of preliminary second quarter 2008 results and recent business trends. The Company now expects full year 2008 adjusted earnings per share in the range of $2.95 to $3.05(1) on revenues in the $81 billion range, with adjusted earnings from operations of approximately $6.5 billion(1) and cash flows from operations approaching $5 billion(1), prior to consideration of cash payments for...

UnitedHealth Group (NYSE: UNH) today announced it has reached an agreement in principle with lead plaintiff California Public Employees' Retirement System (CalPERS) and plaintiff class representative Alaska Plumbing and Pipefitting Industry Pension Trust, on behalf of themselves and members of the class, to settle the federal securities class action lawsuit arising from the consolidated amended complaint filed on December 8, 2006, in the U.S. District Court in Minnesota against the Company...

A summit hosted by the Commonwealth Club of California brought together addiction experts, the Director of the Centers for Disease Control as well as leaders from business and state government to address the continuing epidemic of smoking addiction in California. Moderated by Dr. Nancy Snyderman, participants examined why, after 30 years of widespread efforts to end tobacco use, 4 million Californians still smoke. Each year, tobacco use claims the lives of more than 40,000 Californians....