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Lisa Reilly, AVP, Advertising & Public Relations at Mass Mutual Retirement Services, discussed the iconic MassMutual brand, how the organizational culture has evolved in recent years, and some exciting new research endeavors within the Retirement Services division.

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Mark Fernandes, Chief Leadership Officer of Luck Companies, discussed the impact of value-based leadership on workforce culture and productivity.

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Bill Solomon, Vice President of Customer Care for Vonage, and Nav Chakravarti, Vice President of Product Management at Oracle, discussed knowledge management and how it can improve the customer experience while reducing costs.

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Kathy Kerr, Vice President-Customer Services, shares her insights on the two different worlds that CISOs and CIOs are living on right now and how they can meet in the middle to make better business decisions.

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CISOs are from Mars and CIOs are from Venus

Executive Spotlight
July 14, 2014

Barry Caplin, Chief Information Security Officer at Fairview Health Systems, shares his insights on the two different worlds that CISOs and CIOs are living on right now and how they can meet in the middle to make better business decisions.

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by Tim Weaver

The California Public Employee’s Retirement System dropped performance bonuses 14% this year from last according to data released by the pension. In 2011 $4.1 million worth of bonuses were paid out for executive performance, this year the number will be in the area of $3.6 million, according to Bloomberg.

With over 1.6 million members throughout California, Calpers is the single biggest public pension in the United States. The pension peaked in total value at $260.6 billion before the recession. In 2008 the fund lost an estimated $12 billion in investment income and the next year another $55 billion.

Brad Pacheco, a spokesman for the Sacramento based pension released a statement that read “The performance awards are based on multiple years of performance and we are a long-term investor, and that’s what we are trying to incentivize… For us to keep highly skilled investment managers… we have to be competitive and these awards are part of that compensation.”

Each year Calpers spends roughly $40 million on benefits and compensation for investment staff, however this year wages have been frozen for the executive staff. Compensation is based on a rolling three year performance average.

Calpers claims that the wage freezes and bonus cuts will save the fund $114 million.

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