CSAC Bulletin Article
CalPERS CEO Gives Update Amid COVID-19 Pandemic
March 26, 2020
This week California Public Employees’ Retirement System (CalPERS) Chief Executive Officer Marcie Frost sent a letter to stakeholders on how CalPERS is handling operations during COVID-19. Here are some key takeaways:
- All April 1 retirement checks to members, beneficiaries, and survivors will be paid on time, though direct deposit statements will not be printed and mailed this month.
- While the downturn in the market has been hard on the CalPERS investment portfolio, Frost emphasized that they are better prepared than during the 2008 financial crisis.
- Costs and fees for testing for COVID-19 are waived for all CalPERS health members.
- In the next two week CalPERS is scheduling a webinar to assist employer.
- CalPERS Regional Offices are closed to in-person appointments, however, members can schedule a telephone appointment by calling (888) 225-7377.