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Board of Administration Agenda April 18, 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.) Members of the public may provide public comment via telephone by calling (800) 259-4105.

April 18, 2022

View April 18, 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

April 18, 2022

View April 18, 2022 Board of Administration Full Board Hearing Open Session Meeting Transcript (PDF)

Open Session

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

  1. Item
    1. Call to Order and Roll Call (PDF)
    2. Full Board HearingTheresa Taylor
      1. Tustin Unified School District (PDF)
        1. Attachment A – Staff's Argument (PDF)
        2. Attachment B – Respondent's Argument (PDF)
        3. Attachment C – Full Board Hearing Procedures, Notice of Full Board Hearing, and Proof of Service (PDF)
        4. Attachment D – September 2-3, 2021 Administrative Hearing Transcripts (PDF)
        5. Attachment E – February 15, 2022 Board Agenda Item (PDF)
        6. Attachment F – February 15, 2022 Board Meeting Transcript (PDF)
        7. Attachment G – CalPERS' Exhibits
          1. Part 1 (PDF)
          2. Part 2 (PDF)
          3. Part 3 (PDF)
          4. Part 4 (PDF)
        8. Attachment H – Respondent's Exhibits
          1. Part 1 (PDF)
          2. Part 2 (PDF)
        9. Attachment I – CalPERS' Post Hearing Brief, Reply Brief and Request for Official Notice (PDF)
        10. Attachment J – Respondent's Post Hearing Brief and Reply Brief (PDF)

Closed Session

Upon Adjournment or Recess of Open Session (Government Code sections 11126(c)(3))

  1. Item
    1. Deliberate on Full Board Hearing
      1. Tustin Unified School District

Open Session

  1. Item
    1. Take Action on Full Board Hearing
      1. Tustin Unified School District

April 19, 2022

View April 19, 2022 Board of Administration Open Session Meeting Transcript (PDF)

Open Session

10:30 a.m.
Or upon adjournment of the Performance, Compensation & Talent Management Committee – Whichever is later

  1. Item
    1. Call to Order and Roll Call

Closed Session

10:30 a.m.
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

10:30 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 April 19, 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 March 16, 2022 Board of Administration Meeting Minutes (PDF)
      2. Board Travel Approvals (PDF)
        1. Attachment (PDF)
      3. Approval of Committee Delegations (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. Information Consent ItemsTheresa Taylor
      1. Board Meeting Calendar (PDF)
      2. Draft Agenda for the June 15, 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 (Verbal Report)David Miller
      2. Pension & Health Benefits Committee (PDF)Rob Feckner
      3. Finance & Administration Committee (PDF)Lisa Middleton
      4. Performance, Compensation & Talent Management Committee (PDF)Rob Feckner
      5. Risk & Audit Committee (PDF)Lisa Middleton
      6. Board Governance Committee (Verbal Report)Theresa Taylor
    9. Action Agenda Items
      1. Proposed Decisions of Administrative Law Judges (PDF)Theresa Taylor
        1. Samuel B. Villalobos (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        2. City of Santa Ana / Gerry Serrano (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        3. Samuel G. Gonzalez-Lopez (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        4. Thomas S. Blanco (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        5. Aaron M. Perez (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        6. Amber N. Keup (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
      2. Petitions for Reconsideration (PDF)Theresa Taylor
        1. Maria Santillan Beas / City of Lynwood (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
          4. Attachment D (PDF)
          5. Attachment E (PDF)
        2. Michael McLaughlin (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
          4. Attachment D (PDF)
          5. Attachment E (PDF)
        3. Paul Zehnder (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
          4. Attachment D (PDF)
          5. Attachment E (PDF)
      3. Full Board Hearing DecisionTheresa Taylor
        1. Tustin Unified School District (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
      4. CalPERS 2022-27 Strategic Plan – Second Reading (PDF)Sabrina Hutchins
        1. Attachment 1 (PDF)
        2. Attachment 2 (PDF)
        3. Attachment 3 (PDF)
      5. Senate Bill 1328 (McGuire) – Divestment from Russia and Belarus (PDF)Danny Brown
      6. Senate Bill 1173 (Gonzalez) – Divestment from Fossil Fuel Companies (PDF)Danny Brown
    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

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 March 16, 2022 Board of Administration Closed Session Meeting Minutes
    3. 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

Resources

Location

Feckner Auditorium
 Lincoln Plaza North
400 P Street
Sacramento, CA 95811

Parking
CalPERS Building Guide (PDF)

Security

For your safety, attendees are screened upon entering the auditorium.