Myths vs. Facts - National Health Care Reform
Myth: CalPERS pays 100 percent of retiree health care costs. |
Facts
Myth: Spending health care dollars on prevention and wellness programs does little to affect the overall cost of health care in our nation, our state and our communities. |
Facts
Myth: CalPERS members will have no choice in what health benefits they receive. They will have to go into a public plan. |
Facts
Myth: If CalPERS is not affected by the national health care policy changes that could come, why should we care? |
Facts
Myth: If nothing occurs in Washington this year, it won’t really matter because CalPERS already operates its own system of health benefits. |
Facts
Myths vs. Facts - Investments
Myth: CalPERS cannot come back from billions in losses. |
Facts
Myth: CalPERS uses “risky” investment strategies and assumptions. |
Facts
Myth: CalPERS is doing very little to manage its real estate portfolio. |
Facts
Myth: CalPERS is shying away from stocks in favor of private equity. |
Facts
Myths vs. Facts - Pension Security
Myth: Government workers don’t contribute to their pensions; taxpayers are on the hook to pay those costs. |
Facts
Myth: CalPERS pensioners can "goose" their retirement benefit upward by manipulating the income that gets included in their final year of compensation. |
Facts
Myth: The average CalPERS pensioner gets 80 percent of their pay. |
Facts
Myth: CalPERS Board is focused on benefit enhancements. |
Facts
Myth: Police and firefighters retire at age 50 with 90 percent of pay. |
Facts
Myths vs. Facts - Pension Financing
Myth: Pension Costs for the State of California have increased by 2000 percent in the last 10 years. |
Facts
Myth: Public pension benefits are excessive and a drain on the public. |
Facts
Myth: CalPERS said the SB 400 benefit enhancements would be free to the State forever. |
Facts
Myth: CalPERS is going to run out of money because of baby boomers retiring. |
Facts
Myth: Pensions are among the highest costs of State government. |
Facts
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