Board of Administration Agenda March 14, 2022

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.)

March 14, 2022

View March 14, 2022 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

Or upon adjournment 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 Items

March 16, 2022

View March 16, 2022 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

9:00 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

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

1. Item
   1. Call to Order and Roll Call (PDF)
   2. Approval of the March 16, 2022 Board of Administration Timed Agenda (PDF)
   3. Pledge of AllegianceTheresa Taylor
   4. Board President's Report (Verbal Report)Theresa Taylor
   5. Chief Executive Officer's Report (Verbal Report)Marcie Frost
   6. Action Consent ItemsTheresa Taylor
      1. Approval of the February 15, 2022 Board of Administration Meeting Minutes (PDF)
      2. Board Travel Approvals (PDF)
   7. Information Consent ItemsTheresa Taylor
      1. Board Meeting Calendar (PDF)
      2. Draft Agenda for the April 18 and 19, 2022 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)
   8. Committee Reports and Actions
      1. Investment Committee (PDF)David Miller
      2. Pension & Health Benefits Committee (PDF)
      3. Finance & Administration Committee (Verbal Report)Lisa Middleton
      4. Performance, Compensation & Talent Management Committee (Verbal Report)Rob Feckner
      5. Risk & Audit Committee (Verbal Report)Lisa Middleton
      6. Board Governance Committee (PDF)
   9. Action Agenda Items
      1. Proposed Decisions of Administrative Law Judges (PDF)Theresa Taylor
         1. Juan M. Carrillo (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         2. Leanne M. Tornow (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         3. Norris E. Littlejohn (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         4. George P. D'Ablaing (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         5. Paul F. Zehnder (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         6. Michael W. McLaughlin (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         7. Lerma G. de Leon (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         8. Maria T. Santillan-Beas / City of Lynwood (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         9. Oscar E. Diaz (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         10. Angela M. Aceves (PDF)
             1. Attachment A (PDF)
             2. Attachment B (PDF)
             3. Attachment C (PDF)
      2. Petitions for Reconsideration (PDF)Theresa Taylor
         1. Dwain D. Moore (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
            4. Attachment D (PDF)
            5. Attachment E (PDF)
         2. Brian A. Dalhover (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
            4. Attachment D (PDF)
            5. Attachment E (PDF)
   10. Information Agenda Items
       1. State and Federal Legislation Update (PDF)Danny Brown
          1. Attachment 1 (PDF)
       2. Summary of Board Direction (Verbal Report)Marcie Frost
       3. Public Comment
   11. 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), (c)(18)(A), (e), and (g)(1))

1. Item
   1. Call to Order and Roll Call
   2. Approval of the February 15, 2022 Board of Administration Closed Session Meeting Minutes
   3. Information Security Update and Cybersecurity BriefingChristian Farland and Stephen Crandall
   4. Litigation MattersMatthew 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 the Closed Session

1. Item
   1. Report out on Information Security Update and Cybersecurity Briefing