Performance, Compensation & Talent Management Committee Agenda February 13, 2023

This committee oversees compensation mechanisms and criteria, and the hiring, termination, compensation and long-term succession planning of key personnel.

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

Items designated for Information are appropriate for Committee Action if the Committee wishes to take action. Any Agenda Item from a properly noticed Committee meeting may be considered by the Board at a subsequent Board meeting. 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. There is a three-minute limitation on 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. Board members may attend meetings of committees of which they are not members and participate in the discussions during those meetings. In accordance with California Government Code section 11133 (added by Stats. 2022, ch. 48, § 20), Board members may participate in this meeting via videoconference.

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

February 13, 2023

View February 13, 2023 Performance, Compensation & Talent Management Committee Open Session Meeting Transcript (PDF)

Open Session

9:15 a.m.
Or upon adjournment of the Board Closed Session Meeting – Whichever is later

1. Item
   1. Call to Order and Roll Call
   2. Election of the Performance, Compensation & Talent Management Committee Chair and Vice Chair
   3. Call to Order and Roll Call
   4. Executive Report Doug Hoffner
   5. Action Consent Items Doug Hoffner
      1. Approval of the February 13, 2023, Performance, Compensation & Talent Management Committee Timed Agenda
      2. Approval of the September 20, 2022, Performance, Compensation & Talent Management Committee Meeting Minutes
      3. Approval of Revisions to Implement Previous Board Direction: Compensation Policy for Executive and Investment Management Positions
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
   6. Information Consent Items Doug Hoffner
      1. Annual Calendar Review
      2. Draft Agenda for the April 17, 2023, Performance, Compensation & Talent Management Committee Meeting
   7. Information Agenda Items
      1. Compensation Review for Statutory Positions Michelle Tucker; McLagan; Global Governance Advisors
         1. Attachment 1 (PDF)
   8. Summary of Committee Direction Doug Hoffner
   9. Public Comment
   10. Adjournment of Meeting

Closed Session

1. Item
   1. Call to Order and Roll Call
   2. Action Consent Items Michelle Tucker
      1. Approval of the September 20, 2022, Performance, Compensation & Talent Management Committee Closed Session Meeting Minutes
   3. Information Agenda Items
      1. Semiannual Status Report on Incentive Plan of the Chief Executive Officer Marcie Frost