Board of Administration Educational Day Agenda

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.

All times are approximate and for reference only. The Board of Administration may consider an item at an earlier or later time than set forth herein. 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. 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. 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. In accordance with Government Code section 11133 (added by Stats. 2022, ch. 48, § 20), Board members may participate via teleconference.

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

TUESDAY, JANUARY 17, 2023
AGENDA

Closed Session

9:00 a.m. - Closed Session
Upon Adjournment or Recess of Open Session (Government Code Sections 11126(a)(1), (e), and (g)(1))

1. Chief Executive Officer’s Briefing on Performance, Employment, and Personnel Issues

Open Session

9:30 A.M. - Welcome/Opening

1. Theresa Taylor, President, CalPERS Board of Administration
   Marcie Frost, Chief Executive Officer, CalPERS

9:45 A.M. - Pledge of Allegiance

9:50 A.M. - Swearing-In Ceremony for New Board Members

9:55 A.M. - Election of President/Vice President

10:00 A.M. - Action Item – Proposed Decisions of Administrative Law Judges

1. Proposed Decisions (PDF)
2. 1. Nefertari J. Guice (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
3. 2. Benjie M. Cortez (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
4. 3. Tamara S. Dunn (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
5. 4. Robert B. Craig
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
6. 5. Michael A. Schall
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
7. 6. Trevor R. Dalton (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
9. 7. Michelle L. Montano (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
10. 8. Leticia Morando-Hernandez (PDF)
1. Attachment A (PDF)
2. Attachment B (PDF)
3. Attachment C (PDF)
11. 9. Mildred L. Smalley (PDF)
    1. Attachment A (PDF)
    2. Attachment B (PDF)
    3. Attachment C (PDF)
12. 10. Eusebio M. Montejo (PDF)
    1. Attachment A (PDF)
    2. Attachment B (PDF)
    3. Attachment C (PDF)
13. 11. Feimata Kamanda (PDF)
    1. Attachment A (PDF)
    2. Attachment B (PDF)
    3. Attachment C (PDF)
14. 12. Rodney Rowe
    1. Attachment A (PDF)
    2. Attachment B (PDF)
    3. Attachment C (PDF)
15. 13. Migterry Solinap (PDF)
    1. Attachment A (PDF)
    2. Attachment B (PDF)
    3. Attachment C (PDF)
16. 14. Jeffrey Crittenden & James Hall
    1. Attachment A (PDF)
    2. Attachment B (PDF)
    3. Attachment C (PDF)

10:05 A.M. - Action Item – Board Travel Approvals (PDF)
Attachment 1 (PDF)
Attachment 2 (PDF)

10:10 A.M. - Action Item – Salary Range Adjustment for Chief Actuary, Chief Health Director, Chief Financial Officer, and General Counsel Positions

1. Michelle Tucker, Chief, Human Resources Division, CalPERS

10:25 A.M. - Medicare Accountable Care Policy & Addressing Perspectives about the ACO REACH Model (PDF)

Presenters

1. Lemeneh Tefera MD MSc, CalPERS
2. Elizabeth Fowler PHD JD, Director, CMMI
   Pauline J. Lapin, MHS, Director, Seamless Care Models Group, CMMI
   James Kahn MD MPH, Retired Professor, UCSF Institute for Health Policy Studies
   Alice Chen PhD, Associate Professor & Vice Dean for Research, USC Public Policy
3. Powerpoint Presentations
   ACO REACH: The Hazards of Capitation for Traditional Medicine (PDF)
   Understanding ACOs (PDF)
   CMS Accountable Care Initiatives (PDF)
   CMS Accountable Care Initiatives (PDF)

11:55 A.M. - Lunch Break

12:35 P.M. - Current Trends in Investing and Sustainability

1. Nicole Musicco, Chief Investment Officer, CalPERS
2. Mark Carney, Vice Chair of Brookfield Asset Management and Head of Transition Investing

1:35 P.M. - Annual Board Fiduciary Training (PDF)

1. Matthew Jacobs, General Counsel, CalPERS
2. Ashley Dunning, Co-Chair Public Pensions & Investment Group, Nossaman LLP
   Lance H. Olson, Senior Counsel, Olson Remcho LLP
3. Powerpoint Presentations:
   Fiduciary Duties of Public Retirement System Trustees (PDF)
   Board Training – Conflicts of Interest (PDF)

3:05 P.M. - Public Comment

3:15 P.M. - Break

3:25 P.M. - Approval to Meet in Closed Session Pursuant to Government Code Section 11126(c)(18)(A)

Closed Session

Upon Adjournment or Recess of Open Session (Government Code sections 11126(a)(1), (c)(18)(A), (e), and (g)(1))

Call to Order and Roll Call

CalPERS Information Security Roadmap

1. Albert Arboleda, Chief Information Security Officer, CalPERS
   Doug Hoffner, Chief Operating Officer, CalPERS
   Matthew Jacobs, General Counsel, CalPERS
   Stephenson Loveson, Interim Chief Information Officer, CalPERS

Litigation Items – Matthew Jacobs

1. 1. Wedding, et al. v. CalPERS, et al. (Los Angeles County Superior Court, Case No. BC517444)
   2. Liu v. CalPERS (Los Angeles County Superior Court, Case No. 19STCP04056)
   3. General Counsel’s Update on Pending Litigation

Open Session

4:55 P.M. - Report out on CalPERS Information Security Roadmap

1. President, CalPERS Board of Administration

Adjournment of Meeting