The California Public Employees’ Retirement System (CalPERS) has responded to a Bell City fraud scandal where eight officials were charged with fraud, conspiracy and waste of public funding. CalPERS will appoint a senior risk officer and launch a 24-hour whistleblower helpline to protect against further fraud.
Former city manager, Robert Rizzo, was among those charged. He received double the amount he was entitled to from CalPERS in retirement benefits, 107 days in holiday leave, and 36 days of sick leave annually.
“The office of enterprise risk management will bring together all aspects of risk management, including internal compliance operations, privacy and security, disaster recovery and business continuity programmes,” said CEO Anne Stausboll at a pension fund’s board meeting.
