The California Public Employees Retirement System, in a move sure to provoke the anger of retirees, plans to launch an online database posting details of nearly 500,000 pensioners in an effort to improve transparency.
The searchable online database will include retiree names, monthly gross pension payment, final compensation and some employment history. The database is expected to go live as early as next week.
In a notice to retiree organizations, the country's largest public pension fund cited legal requirements for public disclosure as the driving force behind the database. In that letter, CalPERS acknowledged the move would incur rancor from retirees.
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