CalPERS Retirement Fund Is Sound

Despite the current economic mess in the United States, the California Public Employees’ Retirement System (CalPERS) fund remains stable. Retirees will continue to receive their pension checks without interruption.

In light of recent headlines, CalPERS issued a statement to remind members that their retirement benefits are guaranteed by law and, more importantly, to reassure members that the retirement fund is solvent. As of last year, CalPERS had an overall funding ratio of more than 90 percent. This means that the market value of its assets was 90 percent of what its liabilities were for each retirement plan; this is considered excellent for pension funds.

This solvency in times when others are losing their retirement funds to bad investments reflects the importance of having a responsible organization such as CalPERS manage classified employees’ retirement funds.

Like other investors, CalPERS has suffered some losses because of the drop in stocks. However, with its team of investment experts

Special Guest Ron Duva

Find Out how it Pays To be a CSEA Member! Come and hear Special Guest Ron Duva, Member Benefits Coordinator From CSEA’s headquarters .

Come and find out about all the benefits You weren’t aware of.
Check your membership and see what your dues money could get you.
Prizes, refreshments, & information.

Two Informational sessions will be held on Wednesday, November 5th,
At 11:00a.m. -12:00p.m. & 12:00p.m. – 1:00 p.m. beginning @ 11:00 a.m. until 1:00pm
At the ESC 4999 Casa Loma Ave. Yorba Linda CA.
(next door to Yorba Linda MS)

Part Time Employee Rights

Question:
Does the district expect to have more classified employee reductions next year? Does the reductions start with the part time employees first? Can a full time employee with less time, bump a part time employee with more time in the same classification? I spent many years as a noon supervisor before becoming a part time clerk. In the event of lay offs, does that time as a noon supervisor account for any time with the district? – Anonymous

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Site Representatives

Question:
Where do we find our site representatives? Is there a list posted here somewhere? – Anonymous

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Vacation Time

Question:
I understand that upon retirement, I will simply lose most of the vacation time I have accrued. Is there a way I can get paid for my vacation time each year or is there a way to take vacation time during the summer months when I would not require a substitute? It is very difficult to take vacation days because my site is responsible for paying for my substitute. We simply do not have the funds to accommodate using my vacation time. I don’t want to be a burden to my site’s budget, but I truly do want to be compensated for ALL of my vacation hours I have coming. Thank you! – Anonymous

(click on the comments link below to view answers/comments)

Classification Study

Question:
(similar question was asked by 2 other visitors)
May 15 of last year, I recieved my classification study review. I was told that a compensation study was also in the works to reflect the findings of the classification study. What is the status of the second study? 5 months have passed, I would think that the results of this second study should be made available. – Fred Ronquillo

(click on the comments link below to read answers/comments)