Board of Administration Offsite Agenda JULY 12, 2021

The CalPERS Board of Administration considers recommendations from individual Board committees and hears other matters related to the administration of retirement benefits and investment management.

(Agenda items are provided in a PDF format, which require Adobe Reader 8 or higher to view.)

AGENDA – DAY ONE
MONDAY, JULY 12, 2021

9:00 A.M. - Welcome/Opening

Henry Jones, President, CalPERS Board of Administration
Marcie Frost, Chief Executive Officer, CalPERS

9:15 A.M. - Closed Session – Action Item - Real Assets Strategic Plan
(Government Code Section (11126(c)(16))

Presenter
Sarah Corr, Managing Investment Director, Real Assets, CalPERS

10:15 A.M. - Break

10:30 A.M. - Open Session – Opening Comments / Global Offices (PDF)

Presenter
Dan Bienvenue, Interim Chief Investment Officer, CalPERS
PowerPoint Presentation
Consideration of Global Offices (PDF)

10:45 A.M. - Capital Market Assumption Education (Board Education) (PDF)

Moderator
Fritzie Archuleta, Deputy Chief Actuary, CalPERS
Presenters (PDF)
Steve Foresti, Chief Investment Officer, Wilshire Associates Consulting
Steve McCourt, Managing Principle, Meketa Investment Group
Thushka Manaraj, Managing Director, JP Morgan

12:00 P.M. - Lunch

1:00 P.M. - Asset Liability Management
Capital Market Assumptions: Survey & Methodology (PDF) (Board Education)

Presenter
Sterling Gunn, Managing Investment Director, CalPERS
PowerPoint Presentation
Asset Liability Management:
Capital Market Assumptions: Survey & Methodology (PDF)

2:00 P.M. - Asset Liability Management
Creating and Assessing Candidate Portfolios (PDF) (Board Education)

Presenter
Sterling Gunn, Managing Investment Director, CalPERS
PowerPoint Presentation
Asset Liability Management:
Creating and Assessing Candidates Portfolios (PDF)

3:00 P.M. - Break

3:15 P.M. - The New Agenda for Sustainable Investment: Disclosure on Financial, Human and Physical Capital (Board Education) (PDF)

Moderator
Anne Simpson, Managing Investment Director, CalPERS
Presenters (PDF)
Lisa Fairfax, Professor of Law, George Washington University
Ty Gellasch, Executive Director, Healthy Markets Association
Bob Litterman, Chair, Commodities & Futures Trading Commission Climate Risk Committee
PowerPoint Presentation
A New Agenda for Sustainable Investment: Disclosure on Financial, Human and Physical Capital – Financial Regulatory Agenda (US) - SEC Three Year Outlook (PDF)
A New Agenda for Sustainable Investment: Disclosure on Financial, Human and Physical Capital – Climate Change (PDF)
Background
Recommendation from the Investor-as-Owner Subcommittee on Human Capital Management Disclosure (PDF)
Managing Climate Risk in the U.S. Financial System (PDF)

4:30 P.M. - Adjourn/Closing

AGENDA – DAY TWO
TUESDAY, JULY 13, 2021

9:00 A.M. - Welcome/Opening

Henry Jones, President, CalPERS Board of Administration
Marcie Frost, Chief Executive Officer, CalPERS

9:15 A.M. - Action Item - Approval of 2022 Health Maintenance Organization Premiums and Approval of 2022 Preferred Provider Organization Premiums (PDF)

Presenter
Marta Green, Chief, Health Plan Research & Administration Division, CalPERS
Attachment 1 (PDF)
Attachment 2 (PDF)
PowerPoint Presentation
Approval of 2022 Health Maintenance Organization Premiums and Approval of 2022 Preferred Provider Organization Premiums (PDF)

10:30 A.M. - 2022 Association Plan Premiums (PDF)

Presenter
Marta Green, Chief, Health Plan Research & Administration Division, CalPERS
Attachment 1 (PDF)
PowerPoint Presentation
2022 Association Plan Premiums (PDF)

10:45 A.M. - 2022 State Annuitant Contribution Formulas (PDF)

Presenter
Marta Green, Chief, Health Plan Research & Administration Division, CalPERS
PowerPoint Presentation
2022 State Annuitant Contribution Formulas (PDF)

11:00 A.M. - Break

11:15 A.M. - Behavioral Health Update (Board Education) (PDF)

Presenter
Don Moulds, Chief Health Director, CalPERS
Julia Logan, Chief Medical Officer, CalPERS
PowerPoint Presentation
Behavioral Health Update (PDF)

12:15 P.M. - Lunch Break

1:15 P.M. - Strategic Plan Discussion (PDF)

Presenter
Sabrina Hutchins, Division Chief, Enterprise Strategy and Performance Division, CalPERS PowerPoint Presentation
2022-27 Strategic Plan Session (PDF)
2017-22 Strategic Plan – Alignment Map (FY 2021-22) (PDF)

3:00 P.M. - Break

3:15 P.M. - Working After Retirement Administration (Board Education) (PDF)

Presenters
Anthony Suine, Deputy Executive Officer, Customer Service and Support, CalPERS
Renee Ostrander, Chief, Employer Account Management Division, CalPERS
PowerPoint Presentation
Working After Retirement (PDF)

4:15 P.M. - Special Public Agency Member Board Election (PDF)

Presenter
Dallas Stone, Division Chief, Operations Support Services Division, CalPERS

5:00 P.M. - Adjourn

AGENDA – DAY THREE
WEDNESDAY JULY 14, 2021

9:00 A.M. - Welcome/Opening

Henry Jones, President, CalPERS Board of Administration
Marcie Frost, Chief Executive Officer, CalPERS

9:15 A.M. - Chief Investment Officer Search: Ideal Candidate Skills and Characteristics, Search Process and Timeline (PDF)

Presenters (PDF)
Marcie Frost, Chief Executive Officer, CalPERS
Charlie Dore, Chief Executive Officer and Founder of Dore Partnership
PowerPoint Presentation
Chief Investment Officer: Prior Search Recap and Search Relaunch (PDF)

10:15 A.M. - Action Item – Proposed Decisions of Administrative Law Judges (PDF)

1. a. Nicholas J. Scarlett (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
2. b. County of Glenn (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
3. c. Scott Mann (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
4. d. John R. Ford (dec.) Johnetta Ford, John P. Ford, Jermaine Ford and Teneen Ford (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
5. e. Marla L. Young and Derrick A. Young (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
6. f. Mark Bloom III (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
7. g. Donna Whitmore (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
8. h. Alan M. Koahou (dec.) Lorrie Koahou (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)

10:20 A.M. - Action Item – Petition for Reconsideration (PDF)

1. a. Laniece Clausell (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
   4. Attachment D (PDF)
   5. Attachment E (PDF)
2. b. Kian Hemmati (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
   4. Attachment D (PDF)
   5. Attachment E (PDF)

10:30 A.M. - Break

10:45 A.M. - CalPERS 2021 Board Self-Evaluation (Board Education) (PDF)

Presenters
Anne Simpson, Managing Investment Director, Board Governance & Sustainability, CalPERS
Carri Dominquez, NACD
PowerPoint Presentation
CalPERS 2021 Board Self-Evaluation: Findings and Opportunities (PDF)

12:00 P.M. - State and Federal Legislative Update (PDF)

Presenter
Danny Brown, Division Chief, Legislative
State and Federal Legislative Update – Bill List (PDF)

12:10 P.M. - Closed Session – Litigation Matters (Government Code sections 11126(a)(1), (e), and (g))

a. Wedding, et al. v. CalPERS, et al. (Los Angeles County Superior Court, Case No. BC517444)
b. General Counsel's Update on Pending Litigation

12:40 P.M. - Adjourn Offsite

Notes

1. Items designated for Information are appropriate for Action if the Board wishes to take action. Any Agenda Item from a properly noticed Committee meeting, held prior to this Board meeting, may be considered by the Board.
2. The hour designated as the earliest starting time for this meeting is not intended to communicate the expected duration (or ending time) of the preceding meeting.
3. Public comment may be taken on agenda items in accordance with applicable law. Public comment will not be taken on agenda items relating to the administrative adjudication of individual cases. There is a three-minute limitation on each public comment, unless otherwise directed by the Presiding Officer. (Cal. Code Regs. tit. 2, § 552.1.) Members of the public may provide public comment via telephone by calling (800) 259-4105.
4. In accordance with Executive Orders N-08-21, N-33-20, and the stay-at-home orders and social distancing measures put in place throughout California, Board members will participate via videoconference.