CalPERS Announces Organization Changes

April 6, 2011 ( - The California Public Employees’ Retirement System (CalPERS) announced organization changes it says will allow delivery of improved customer service to its members and employers, enhance risk management and fiscal accountability, and expand its capabilities for policy development and research.

Three new areas of the CalPERS organization have been transitioned into hubs for customer service, policy and planning, and fiscal oversight. They include: 

  • Customer Services and Support – This new area combines the operations of CalPERS primary business lines of pensions and health care under one single point of leadership to provide a one-stop shop for members and employers. Responsibilities include account management; service, disability and death retirements; oversight of CalPERS eight Regional Offices; and marketing and education support. Donna Lum, Deputy Executive Officer, will lead this group. She was previously Assistant Executive Officer for Member and Benefit Services. 
  • Benefit Programs, Policy and Planning – This group will proactively address public policy issues that impact CalPERS mission in health care and retirement security. It will be responsible for health plan design, health plan contracting and administration, and pension research and analysis. CalPERS will develop a new Center for Innovation to identify market trends and consider new products. Ann Boynton, Deputy Executive Officer, will lead the effort. She was previously Deputy Executive Officer for Benefits Administration. 
  • Financial Office – The new Financial Office will be responsible for managing the financial processes for CalPERS to ensure that a high level of transparency and internal controls is maintained. The Chief Financial Officer (CFO) will be responsible for the current functions of budgeting, accounting, cash management, financial planning and analysis, and enterprise risk management. The position will also oversee compliance and the recently established ethics helpline. As recently announced, Russ Fong will serve as the Acting CFO. He was previously the Interim Assistant Executive Officer for the Fund’s Administrative Services Branch. 


The new organizational structure does not change the functions of investments, information technology, operations, legal and external affairs. CalPERS actuary services will continue to provide services to the fund’s contracting employers. Customer service for employers will be housed in the Customer Services and Support area.  

According to the announcement, the move comes at a time when the fund has reinvigorated its core values and adopted a number of reforms to strengthen its ethics, accountability and transparency. The new organizational structure that goes into effect this week is expected to change CalPERS into a more nimble, innovative and risk-intelligent work culture.  

“This change signals our commitment to excellence as a leader in the pension and health industries,” said Anne Stausboll, Chief Executive Officer for CalPERS, in the announcement.  

CalPERS is the nation’s largest public pension fund with approximately $234 billion in assets. It administers retirement benefits for more than 1.6 million active and retired State, public school and local public employees and their families, and health benefits for 1.3 million enrollees.