CalPERS Cuts Costs and Saves Pension Fund $922.5 Million Over a Five-Year Span

SACRAMENTO, CA – The California Public Employees' Retirement System (CalPERS) Board of Administration (Board) released the Annual Cost Efficiency and Effectiveness Report (PDF), detailing several initiatives that resulted in cost savings for the Pension Fund of $922.5 million over the past five years. "We will continue to look at means to control and reduce costs while focusing on innovative measures that streamline our operations," said Richard Costigan, chair of the Finance and Administration Committee. "This savings is a reflection of CalPERS' efforts to cut costs and leverage the savings that improve our health and retirement programs for our members and employer partners." Between Fiscal Years 2011-16, CalPERS achieved savings in its investment, health care, and information technology programs through the following initiatives: