Thank you for sharing!

Your article was successfully shared with the contacts you provided.
CalPERS beneficiaries were apparently swayed away from social activism at least in part by a consultant in 2016 who found that the fund’s beneficiaries missed up to $3B in investment gains from 2001–14 in the wake of divestiture from tobacco holdings. (Photo: AP)

The California Public Employees’ Retirement System will face a June lawsuit over rate hikes on its long-term care insurance plan, under a new board president.

According to a report in the Sacramento Bee, the class-action lawsuit could end up costing CalPERS as much as a billion dollars, over whether the pension fund carried out a contract-breaking rate hike on their long-term health care plans five years ago.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

More from this author

Dig Deeper



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.