Internet Case—CalPFRS. While the examples in this chapter have focused on a single-employer plan, many states operate statewide plans, referred to as Public Employee Retirement Systems (PERS), to which multiple employers contribute. One of the largest PERS plans in the nation is operated in the State of California.
Required
To answer the following questions use the Web site found at www.calpers.ca.gov. The answers to the questions can be found in CalPFRS annual report or in the general information section provided on the site.
a. When was CalPFRS established?
b. What types of employers contribute to CalPFRS?
c. How many individuals are served by CalPFRS?
d. How many and what types of funds are administered by CalPFRS?
e. For the most recent reporting period, what is the value of total fiduciary assets?
f. For the most recent reporting period, what was the change in pension fund net assets?
g. What are the funded ratios from the schedule of funding progress and what do the funded ratios tell you?
h. What is the reporting relationship between CalPFRS and the State of California?