Board of Administration Agenda - September 16 & 18, 2024

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. In accordance with Government Code section 11123.2 (added by Stats. 2023, ch. 216, § 1), Board members may participate remotely via teleconference.

Meeting Agenda for September 16, 2024

Open Session

9:00 a.m.

1. Item
   1. Call to Order and Roll Call (PDF)

Closed Session

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

1. 1. Chief Executive Officer's Briefing on Performance, Employment, and Personnel Items

Open Session

Upon adjournment of Closed Session

1. 1. Adjournment of Meeting

Meeting Agenda for September 18, 2024

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.

View September 18, 2024 Board of Administration Open Session Meeting Transcript (PDF)

Open Session

8:45 a.m.

Or upon adjournment of the Risk and Audit Committee Meeting – Whichever is later

1. 1. Call to Order and Roll Call (PDF)

Closed Session

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

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

Open Session

8:45 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 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 June 12, 2024, and July 16 and 17, 2024, Board of Administration Meeting Minutes (PDF)
      2. Board Travel Approvals (PDF)
         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)
         8. Attachment 8 (PDF)
         9. Attachment 9 (PDF)
         10. Attachment 10 (PDF)
         11. Attachment 11 (PDF)
      3. Approval of the September 18, 2024, Board of Administration Timed Agenda (PDF)
      4. Board and Committee Meeting Schedule – 2025 (PDF)
   6. Information Consent Items Theresa Taylor
      1. Board Meeting Calendar (PDF)
      2. Draft Agenda for the November 20, 2024, 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 David Miller
      2. Pension & Health Benefits Committee Ramon Rubalcava
      3. Finance & Administration Committee Lisa Middleton
      4. Performance, Compensation & Talent Management Committee Mullissa Willette
      5. Risk & Audit Committee David Miller
      6. Board Governance Committee (Verbal) Theresa Taylor
   8. Action Agenda Items
      1. Proposed Decisions of Administrative Law Judges (PDF) Theresa Taylor
         1. Mary Coleman (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         2. Janet Nichols Ayard (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         3. Rose Garibay De Guzman (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         4. Mary S. Maurer (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         5. Jose Saucedo Lazalde (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
      2. Petitions for Reconsideration (PDF) Theresa Taylor
         1. Tiffany M. Wagner (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
            4. Attachment D (PDF)
            5. Attachment E (PDF)
      3. Chief Executive Officer's 2023-24 Incentive Award and 2024-25 Base Salary (PDF)
   9. Information Agenda Items
      1. State and Federal Legislative Update (PDF) Danny Brown
         1. Attachment 1 (PDF)
      2. Summary of Board Direction Marcie Frost
      3. Public Comment
   10. Approval to Meet in Closed Session Pursuant to Government Code Section 11126(c)(18)(A) Theresa Taylor

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 April 16, 2024, and July 17, 2024 Board of Administration Closed Session Meeting Minutes
   3. Fraud Security Roadmap and Vendor Management Al Arboleda
   4. Litigation MattersMatthew Jacobs
      1. Wedding, et al. v. CalPERS, et al. (Los Angeles County Superior Court, Case No. BC517444)
      2. Granda v. CalPERS (Eastern District of California Case No.: 2:21-CV-01256)
      3. Cheng v. CalPERS (Sacramento County Superior Court, Case No. 23CV010718)
      4. Stoker v. CalPERS (Sacramento County Superior Court, Case No. 24CV001814)
      5. General Counsel's Update on Pending Litigation

Open Session

Upon adjournment of Closed Session

1. 11. Report out on Fraud Security Roadmap and Vendor Management
   12. Adjournment of Meeting