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.
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