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Yves right here. It’s September, and as in most years, a CalPERS board election is underway. CalPERS has a one-month balloting interval and plan individuals who’re eligible to vote in a selected contest have a month to vote by mail, telephone, or Web (you may guess which methodology we desire). This yr, the seat up for grabs is chosen by the retirees, which is a big pool among the many CalPERS beneficiaries.
Randy Cheek, one of many three candidates, writes beneath to induce eligible members to vote. Sadly one of many causes CalPERS will get away with being so badly run is that voter turnout is so horrible that it’s not tough for workers to make board members assume they need to fear extra about employees than the beneficiaries, despite the fact that the board has a fiduciary responsibility to beneficiaries.
Cheek has the backing of probably the most public worker retirement teams RPEA, CHP Retirees, CSU-ERFSA, UAPD Retirees, AFSCME retirees, in addition to many former board members: JJ Jelensic, Margaret Brown, George Diehr, Michael Flaherman, Richard Costigan and Jason Perez. One other consider Cheek’s favor is that no present board members assist him due to his criticism of the board. For sure, lot of cash is being spent by SEIU as they’ve carried out on the previous 4 CalPERS elections to strive to ensure the union chiefs and never the beneficiaries name the pictures.
By.Randy Cheek, a Carmichael resident, candidate for CalPERS Board, and Legislative Director of the Retired Public Workers Affiliation
Vote (anyone) for CalPERS Board. The California Public Workers’ Retirement System (CalPERS) is the nation’s largest public-employees pension fund. CalPERS can be the second largest purchaser of healthcare within the nation. Solely Medicare is bigger. The fund manages practically $500 billion in belongings. It serves greater than 2 million members and households.
From late August by means of late September, greater than 650,000 retired CalPERS members could have the vitally essential probability to vote for the one seat that they’ll immediately elect to the Board. But, latest historical past reveals that fewer than 20 p.c of these eligible will vote on this election to decide on a consultant who will assist information a pension system that generates $28 billion in financial exercise for California – $2.69 billion in Sacramento County alone!
With out diminishing the significance of the upcoming statewide elections, all CalPERS members and households should notice that the race for this Board seat entails a far bigger voters and has way more financial impacts than most of the places of work and poll measures on the November poll.
It’s important that you just vote for a candidate who shares your values and can struggle to guard retiree pursuits on the Board.
In recent times CalPERS administration has cultivated an environment of secrecy and denial of entry to info each member wants and deserves. CalPERS mismanagement has misplaced our pension fund hundreds of thousands by means of questionable actual property dealings. It spends extra on outdoors personal fairness managers than on its complete employees.
Moreover, CalPERS has sorely mismanaged the long-term care program, leaving greater than 60,000 policyholders questioning whether or not they may have the ability to afford long-term care. It is a shame, and it should be stopped!
It will get worse: An ex-Board member was indicted for malfeasance. A CEO was jailed for pay-to-play practices. A CIO resigned over conflicts of curiosity.
How did CalPERS reply? It “circled the wagons,” choosing extra secrecy and fewer transparency. How can these practices defend members? They can not!
But administration has been getting bonuses for “virtually” doing their job. That is ridiculous. It’s the Board’s job to carry its brokers accountable. CalPERS retirees should elect a Board member who will struggle for ALL CalPERS retirees, who will finish secrecy, assault mismanagement, and demand transparency.
There are three candidates working for the CalPERS Board Retired Member seat: Tim Behrens, Retired Program Director from the Division of Developmental Companies; Yvonne Walker, just lately retired Authorized Secretary from the Division of Justice, and me, Randy Cheek, Retired Legislative Liaison with the California State Lottery.
Though I very a lot would admire your vote extra essential is that you just learn our statements, Google and analysis our histories and above all VOTE FOR SOMEBODY.