Board of Administration Offsite Agenda - July 15-17, 2024 (placeholder - will replace with processed import)

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 11123.2 (added by Stats. 2023, ch. 216, § 1), Board members may participate remotely via teleconference.

Location:
Portola Hotel & Spa at Monterey Bay
De Anza Ballroom
Two Portola Plaza 
Monterey, CA

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

Agenda Day One - Monday, July 15

Here's some space for introduction copy, if needed. 

9:00 a.m. Welcome & Opening 

Board of Administration Offsite Meeting Agenda, July 2024 (example with using "LinkIt" -- use your own text with a link.

Board of Administration Offsite Meeting Agenda, July 2024

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

9:15 a.m. Opening Comments from the Chief Investment Officer

Opening comments and updates from Stephen Gilmore, CIO, CalPERS. 

9:30 a.m. Sustainable Investments 2030 Strategy (Board of Education)

Peter Cashion, Managing Investment Director of CalPERS Sustainable Investments, will present an overview of the Sustainable Investments 2030 Strategy and will provide the board an update on climate solutions investments to date.

Overview of the Sustainable Investments 2030 Strategy (Board Education)

Presentation Overview Of The SI 2030 Strategy 

9:45 a.m. Climate-Aware Investing in Global Public Equities (Board Education)

Presenters 
Simiso Nzima, Managing Investment Director, Global Public Equity, CalPERS
Nelson Da Conceicao, Investment Director, Sustainable Investments, CalPERS
Tony Campos, FTSE, Head of Sustainable Investments, Index Investment Group Carolyn R. Eagle, FTSE, Head of Americas, Sustainable Equity Index Product 

Presentation 

10:45 a.m. Break

11:00 a.m. Emerging and Diverse Managers in the CalPERS Investment Portfolio (Board Education)

Presenters 
Anton Orlich, Managing Investment Director, Private Equity, CalPERS
Michael Silva, Associate Investment Manager, Sustainable Investments, CalPERS
Anilu Vazquez-Ubarri, Chief Operating Officer, TPG NEXT 
Pamela Pavkov, Managing Partner, TPG NEXT 
Marcus Lawrence, Principal, TPG NEXT 
Careina Williams, Founder &amp Managing Partner, Caro Investors 
Elizabeth Browne, Managing Director, Sponsor Solutions Group, GCM Grosvenor
Kevin Nickelberry, Managing Director, GCM Grosvenor 
Anthony (Tony) Miller, Managing Partner, Excolere Equity Partners 
 

Presentation 1 

Presentation 2 

Presentation 3 

Presentation 4 

12:30 p.m. Lunch

1:30 p.m. Geopolitics and the Impact of Geopolitical Risks on Economies and Markets (Board Education)

Presenters 
Stephanie Ivy Sanford, Goldman Sachs
Ambassador Norman Eisen (ret.), Senior Fellow, Brookings 

3:00 p.m. Break

3:15 p.m. Proxy Voting Overview (Board Education)

Presenters 
Simiso Nzima, Managing Investment Director, Global Public Equity, CalPERS
Drew Hambly, Investment Director, Corporate Governance, CalPERS 

Presentation 

4:15 p.m. Adjourn

Tuesday, July 16, 2024 

Agenda – Day Two

8:30 a.m. Welcome/Opening

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

8:45 a.m. Closed Session – Preferred Provider Organization Strategy and Transition Update (Government Code section 11126(c)(17), (e))

9:45 a.m. Action Item – Approval of 2025 Health Maintenance Organization & Preferred Provider Organization Plan Premiums 

Presenter
Rob Jarzombek, Division Chief, Health Plan Research & Administration, CalPERS 

1. Attachment 1 

Presentation 
 

10:30 a.m. 2025 State Annuitant Contribution Formulas and 2025 Association Plan Premiums 

Presenter
Rob Jarzombek, Division Chief, Health Plan Research & Administration, CalPERS 

1. Attachment 1 
2. Attachment 2 

Presentation 
 

10:45 a.m. Break

11:00 a.m. Behavioral Health Update (Board Education)

Presenters
Don Moulds, Chief Health Director, CalPERS
Dr. Julia Logan, Chief Medical Officer, Clinical Policy and Programs Division, CalPERS 

Presentation

12:00 p.m. Lunch

12:45 p.m. Health Care Workforce (Board Education)

Presenters 
Dr. Julia Logan, Chief Medical Officer, Clinical Policy and Programs Division, CalPERS
Libby Abbott, Deputy Director, Health Workforce Development, Department of Health Care Access and Information (HCAI)
Kathryn Phillips, Associate Director of Improving Access at the California Health Care Foundation (CHCF) 

Presentation 1 

Presentation 2 

1:45 p.m. Evolution of the Private Equity Industry (Board Education)

TIME CERTAIN 
Presenter 
James Coulter, Founding Partner and Executive Chairman of TPG 

Presentation 
 

3:15 p.m. Break

3:30 p.m. CalPERS CEM Pension Administration Benchmark Report - 2023 (Board Education)

Presenters 
Kim Malm, Deputy Executive Officer, Customer Services and Support
Chris Doll, Director, Client Coverage, CEM Benchmarking 

Presentation 

4:30 p.m. Adjourn

Wednesday, July 17, 2024 
Agenda – Day Three

9:00 a.m. Welcome/Opening

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

9:15 a.m. Action Items - Proposed Decisions of Administrative Law Judges

Proposed Decisions 
 

1. a. Norma A. Carrillo
   1. Attachment A 
   2. Attachment B 
   3. Attachment C 
2. b. Andrew Johnson
   1. Attachment A 
   2. Attachment B 
   3. Attachment C 
3. c. Tiffany M. Wagner
   1. Attachment A 
   2. Attachment B 
   3. Attachment C 
4. d. Christopher Wall 
   1. Attachment A 
   2. Attachment B 
   3. Attachment C 

Petitions for Reconsideration 

1. a. Patricia Moss
   1. Attachment A 
   2. Attachment B 
   3. Attachment C 
   4. Attachment D 
   5. Attachment E 

9:20 a.m. Action Item - Board Travel Approval

Attachment 1 

9:25 a.m. Action Item - Proposed Amendment to Regulation: Definition and Reporting of Full-Time Employment

Presenters
Brad Hanson, Division Chief, Employer Account Management Division, CalPERS
Kelli Aoki, Division Chief, Policy Research & Data Analytics Division, CalPERS

1. Attachment 1 
2. Attachment 2 

10:00 a.m. Fiduciary Duties & Sustainability Considerations (Board Education)

Presenters 
Matthew Jacobs, General Counsel, CalPERS
Von Hughes, Chief Executive Officer, Calvert Research and Management
Tiffany Reeves, Partner, Faegre Drinker

Presentation 

11:30 a.m. Break

11:45 a.m. 2024 Stakeholder Perception Survey Results and Focus Groups

Presenters 
Simone Parker, Assistant Division Chief, Stakeholder Relations, CalPERS
Brad Pacheco, Deputy Executive Officer, Communications & Stakeholder Relations, CalPERS
Ian Stewart, Senior Principal, EMC Research 

Presentation 1 

Presentation 2 

12:45 p.m. Closed Session – Litigation Matters (Government Code section 11126(a)(1), (e), and (g))

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

1:15 p.m. Adjourn Offsite