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Write 4 page essay on the topic Feedback and Evaluation Paper.Download file to see previous pages... It has a diverse workforce from all around the continent with recognized worldwide reputation for i
Write 4 page essay on the topic Feedback and Evaluation Paper.Download file to see previous pages...
It has a diverse workforce from all around the continent with recognized worldwide reputation for its innovation and leadership (CalPERS, 2012). The feedback mechanisms are a way to improve the services provided by the Calpers the Retirement agency for the state of California employees. Mostly, the problems are difficult, secrecy, and also pension programs tend to get boring with time. So, feedback is essential for this retirement agency of California as well. First of all, the scale of the problem should be recognized. Identifying the problem is the basic step from where feedback is generated. It is the feedback of the customers, as well as employees which pave the way for feedback mechanisms. The internal and external feedback mechanisms allow the company to prosper more successfully and enhance the atmosphere of the organization (State University, 2012). Firstly, the political leaders of California should realize the profundity of current financial deficits in the economy as what will the future implications will be. The company has found out that if pension systems even earn 7.5 to 7.75 percent on a yearly basis, CALPERS will only learn 73.5 to 75.3 correspondingly. The pension systems today cannot find their way out of this current scenario which is absolutely devastating. The debt of the state of California is rapidly increasing everyday as political instability continues to pertain in the region. Obviously, the retirement agencies like CALPERS are highly affected by such traumas. This situation is rather tragic and disappointing, but it is very costly for Retirement firms as well (CalPERS, 2012). Whenever the leaders do not act on the situation, the cost increases to the citizens and state and possibly to public workers to whom the state owe pension. This condition is comparable to an adverse loan amortization, which is a scenario where the owner of the house does not pay much for the principal owed and thus goes into an even shredder condition. The delay which takes place in this situation over the period of next year can be figured out from any underfunded sum. The 6.2 percent rate of discount leads to yearly pitfalls for the CALPERS system and thus only $16.8 is estimated to be given to CALPERS, CalSTRS and UCRP combined. This problem has to be highlighted in the company (CalPERS, 2012) The feedback and evaluation programs are very important for CaLPERS. For this purpose, direct administration of Associate Program or Program Evaluator is required who assists in the planning and conducting of field audits of employment records and payroll at the public agencies to testify that the agencies are enrolling employees in accordance with the Law set by the Public Employees Retirement Law. Also, the agencies have to report rewards as well in accordance to this law. This situation helps then go to different public agencies located all across the state of California. Furthermore, the Associate Program Evaluator or Program Evaluator may assist in carrying out the reviews and internal audits of the company which includes the EDP operations, administrative controls, and internal accounting and several other programs (CalPERS, 2012). The fiscal analysis of this public firm extensions for funding and also various other special programs is done by the Program evaluator.