{"id":38472,"date":"2014-11-27T00:40:47","date_gmt":"2014-11-26T23:40:47","guid":{"rendered":"http:\/\/beta.next-finance.net\/news\/calpers-reports-additional-savings-of-162-million\/"},"modified":"2014-11-27T00:40:47","modified_gmt":"2014-11-26T23:40:47","slug":"calpers-reports-additional-savings-of-162-million","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/news\/calpers-reports-additional-savings-of-162-million\/","title":{"rendered":"CalPERS Reports Additional Savings of $162 Million"},"content":{"rendered":"<p>The California Public Employees&#8217; Retirement System (CalPERS) today announced that efforts to bring more investment management in-house and reduce consultants are among factors that have saved the Pension Fund more than $162 million in the last three fiscal years.<\/p>\n<blockquote><p>The savings are in addition to the $106 million CalPERS projected last week that it will save by removing ineligible participants from its health care program.<\/p><\/blockquote>\n<p><em>&#8220;Fiscal responsibility is one of our top priorities,&#8221;<\/em> said Cheryl Eason, Chief Financial Officer for CalPERS. <em>&#8220;We&#8217;ve been able to minimize program costs to the benefit of our members, employers, and the Fund.&#8221;<\/em><\/p>\n<p>Between Fiscal Year 2011-12 and 2013-14, CalPERS achieved savings in its investment, health care, and information technology programs through the following initiatives:<\/p>\n<p>Investment Office &#8211; $116.4 million in savings<\/p>\n<ul>\n<li> Increasing in-house investment portfolio management<\/li>\n<li> Favorable terms on fees with external investment partners<\/li>\n<li> Transfer of work from consultants to state staff<\/li>\n<\/ul>\n<p>Health Program &#8211; $33.3 million in savings<\/p>\n<ul>\n<li> Additional health plan options that increased competition<\/li>\n<li> Hip &#038; knee reference pricing programs<\/li>\n<\/ul>\n<p>Information Technology &#8211; $12.1 million in savings<\/p>\n<ul>\n<li> Transfer of consultant work and knowledge to state staff<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The California Public Employees&#8217; Retirement System (CalPERS) today announced that efforts to bring more investment management in-house and reduce consultants are among factors that have saved the Pension Fund more than $162 million in the last three fiscal years.<\/p>\n","protected":false},"author":20,"featured_media":38470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1651,1437,2094],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/38472"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=38472"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/38472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/38470"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=38472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=38472"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=38472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}