It has been widely reported that CalPERS gave an "exemption to its rules" for the large salary increases in the City of Bell. This is flat out incorrect. CalPERS followed all the existing pension rules related to Bell four years ago. The pension fund's approval of salary increases was based on state law for retirement purposes and was not an endorsement of the size of the increases. Read more about our actions related to Bell and our review of public official salaries.
CalPERS is working hard to ensure the retirement and health security of our members, provide help to our employers, and manage our investments to meet our long-term liabilities. We hope this information provides education, insight, and clarity.
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