CalPERS Not Affected by State IOUs

Retirees and Vendors to Receive Regular Payments

SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) is not affected by the State’s plan to pay some of its bills with IOUs because of a cash shortage. 
CalPERS retirees and beneficiaries will receive regular payments just like they have in the past.  CalPERS employees, vendors, contractors, investment managers, health plans, and other providers of goods and services will also receive regular payments.
The State’s plan to pay some of its bills with IOUs, officially called registered warrants, is caused by a cash shortage in the State General Fund.  CalPERS is a special fund agency and is, therefore, not affected. 
For more detailed information about State IOUs and answers to frequently asked questions, go to the California State Controller’s Office Web site at:  http://www.sco.ca.gov/eo_news_registeredwarrants.html.
With approximately $182 billion in assets, CalPERS is the nation’s largest public pension fund.  It administers retirement benefits for more than 1.6 million active and retired State, public school, and local public agency employees and their families on behalf of 2,600 California public employers, and health benefits for 1.3 million members.
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