Board of Administration Agenda June 22, 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 videoconference.

June 22, 2023

View June 22, 2023 Board of Administration Open Session Meeting Transcript (PDF)

Open Session

9:15 a.m.

Or upon adjournment or Recess of the Performance, Compensation and Talent Management Committee – Whichever is later

1. Item
   1. Call to Order and Roll Call

Closed Session

9:15 a.m.

Upon Adjournment or Recess of Open Session (Government Code sections 11126(a)(1), (c)(17), (e), (g)(1), and (h))

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

Open Session

9:15 am

Or upon Adjournment of the Closed Session – Whichever is later

1. Item
   1. Call to Order and Roll Call
   2. Pledge of Allegiance Theresa Taylor
   3. Board President’s Report Theresa Taylor
   4. Chief Executive Officer’s Report (Verbal) Marcie Frost
   5. Action Consent Items Theresa Taylor
      1. Approval of the April 18, 2023, Board of Administration Meeting Minutes
      2. Board Travel Approvals
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
         3. Attachment 3 (PDF)
         4. Attachment 4 (PDF)
         5. Attachment 5 (PDF)
         6. Attachment 6 (PDF)
         7. Attachment 7 (PDF)
      3. Approval of the June 22, 2023, Board of Administration Timed Agenda
   6. Information Consent Items Theresa Taylor
      1. Board Meeting Calendar
      2. Draft Agenda for the September 20, 2023, Board of Administration Meeting
      3. General Counsel’s Report
      4. Communications and Stakeholder Relations
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
   7. Committee Reports and Actions
      1. Investment Committee (PDF) David Miller
      2. Pension & Health Benefits Committee (PDF) Ramon Rubalcava
      3. Finance & Administration Committee (PDF) Lisa Middleton
      4. Performance, Compensation & Talent Management Committee (PDF) Jose Luis Pacheco
      5. Risk & Audit Committee (PDF) David Miller
      6. Board Governance Committee (Verbal) Theresa Taylor
   8. Information Agenda Items
      1. State and Federal Legislative Update Danny Brown
         1. Attachment 1 (PDF)
      2. Summary of Board Direction Marcie Frost
      3. Public Comment

Closed Session

Upon Adjournment or Recess of Open Session (Government Code sections 11126(a)(1), (c)(18)(A),(c)(17),(e), and (g)(1))

1. Item
   1. Call to Order and Roll Call
   2. Approval of the April 18, 2023, Board of Administration Closed Session Meeting Minutes
   3. Litigation Matters Matthew Jacobs
      1. Wedding, et al. v. CalPERS, et al. (Los Angeles County Superior Court, Case No. BC517444)
      2. General Counsel’s Update on Pending Litigation

Open Session

Upon adjournment of Closed Session item

1. Item
   1. Adjournment of Meeting