The California Public Employees’ Retirement System (CalPERS) has a new pharmacy benefits contract with CVS Caremark, the ...

CVS Health’s Caremark business signed a new pharmacy benefits contract with the California Public Employees’ Retirement ...

Calpers is switching to CVS from OptumRx, which is part of UnitedHealth Group. The California pension fund said it chose CVS Caremark because it offered more affordable benefits than other vendors.

The five-year contract includes new financial terms with CVS and provides outpatient drug benefits for about 587,000 members, Calpers said Tuesday. That represents about 40% of Calpers's 1.5 million ...