Board of Administration Agenda February 14, 2023

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.)

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 California Government Code section 11133 (added by Stats. 2022, ch. 48, § 20), Board members may participate via teleconference.

Videoconference – see https://www.calpers.ca.gov/page/about/board/board-meetings

February 14, 2023

View February 14, 2023 Board of Administration Open Session Meeting Transcript (PDF)

Open Session

9:00 a.m.

1. Item
   1. Call to Order and Roll Call

Closed Session

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

1. Item
   1. Chief Executive Officer's Briefing on Performance, Employment, and Personnel Issues
   2. Committee Reports and Actions

Open Session

9:00 a.m.
Or upon adjournment of the Closed Session – Whichever is later

1. Item
   1. Call to Order and Roll Call (PDF)
   2. Pledge of AllegianceTheresa Taylor
   3. Board President’s ReportTheresa Taylor
   4. Chief Executive Officer's Report (Verbal Report)Marcie Frost
   5. Action Consent ItemsTheresa Taylor
      1. Approval of the November 16 and 30, 2022 and January 17, 2023 Board of Administration Meeting Minutes (PDF)
      2. Board Travel Approvals (PDF)
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
      3. Approval of the February 14, 2023, Board of Administration Timed Agenda (PDF)
   6. Information Consent ItemsTheresa Taylor
      1. Board Meeting Calendar (PDF)
      2. Draft Agenda for the March 15, 2023 Board of Administration Meeting (PDF)
      3. General Counsel's Report (PDF)
      4. Communications and Stakeholder Relations (PDF)
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
   7. Committee Reports and Actions
      1. Investment Committee (Verbal Report)
      2. Pension & Health Benefits Committee (PDF)
      3. Finance & Administration Committee (PDF)
      4. Performance, Compensation & Talent Management Committee (Verbal Report)
      5. Risk & Audit Committee (PDF)
      6. Board Governance Committee(PDF)
   8. Action Agenda Items
      1. Proposed Decisions of Administrative Law Judges (PDF)Theresa Taylor
         1. Frank Perdomo (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         2. Linda H. Wallihan and Georgiana C. Sims (Richard M. Sims III (dec.)) (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         3. Joseph R. Garcia (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         4. Jason J. Bemowski (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         5. Roy S. Taylor (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
      2. Proposed Regulation for the Definition of Limited Duration Employment (PDF)Anthony Suine
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
   9. Information Agenda Items
      1. State and Federal Legislation Update (PDF)Danny Brown
      2. Summary of Board Direction (Verbal Report)Marcie Frost
      3. Public Comment

Closed Session

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

1. Item
   1. Call to Order and Roll Call
   2. Approval of the November 16, 2022 and January 17, 2023 Board of Administration Closed Session Meeting Minutes
   3. Litigation MattersMatthew Jacobs
      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

Upon adjournment of Closed Session

1. Item
   1. Adjournment of Meeting