Board of Administration Agenda June 13, 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.

June 13, 2022

View June 13, 2022 Board of Administration Open Session Meeting Transcript (PDF)

Open Session

9:00 a.m.

1. Item
   1. Call to Order and Roll Call
   2. Swearing-In Ceremony for New Board Member(s)

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
   2. Committee Reports and Actions

June 15, 2022

View June 15, 2022 Board of Administration Open Session Meeting Transcript (PDF)

Open Session

10:00 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

10:00 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

Open Session

10:00 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 (PDf) Theresa Taylor
   3. Board President's Report (Verbal Report)Theresa Taylor
   4. Chief Executive Officer's Report (Verbal Report)Marcie Frost
   5. Action Consent ItemsTheresa Taylor
      1. Approval of the April 18 and 19, 2022 Board of Administration Meeting Minutes (PDF)
      2. Board Travel Approvals (PDF)
      3. Approval of the June 15, 2022 Board of Administration Timed Agenda (PDF)
   6. Information Consent Items Theresa Taylor
      1. Board Meeting Calendar (PDF)
      2. Draft Agenda for the September 21, 2022 Board of Administration Meeting (PDF)
      3. General Counsel’s Report (PDF)
      4. Communications and Stakeholder Relations (PDF)
         1. Attachment A (PDF)
         2. Attachment B (PDF)
   7. Committee Reports and Actions
      1. Investment Committee (PDF)David Miller
      2. Pension & Health Benefits Committee (PDF)Rob Feckner
      3. Finance & Administration Committee (Verbal Report) 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
   8. Action Agenda Items
      1. Proposed Decisions of Administrative Law Judges Theresa Taylor
         1. Jennifer A. Fous (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         2. Dagmar H. Waters(PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         3. Susan Heeger(PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         4. Ronny F. Cespedes (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         5. Elias Mendez (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         6. Danilo B. Manlapaz (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         7. Johnnie W. Swaim (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         8. Marc Berginc (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         9. Mathew M. Scott (PDF)
            1. Attachment A (PDF)
            2. Attachment B (PDF)
            3. Attachment C (PDF)
         10. William Richards (PDF)
             1. Attachment A (PDF)
             2. Attachment B (PDF)
             3. Attachment C (PDF)
      2. Assembly Bill 2080 (Wood) – Health Care Consolidation and Contracting Fairness Act of 2022 (PDF) Danny Brown
   9. Information Agenda Items
      1. State and Federal Legislation Update (PDF) Danny Brown
         1. Attachment A (PDF)
      2. Summary of Board Direction – 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 April 19, 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