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Pat Macht, Assistant Executive Officer
Contact: Brad Pacheco, Assistant Chief
CalPERS Board President Establishes Risk Committee - Ad Hoc Committee to address enterprise wide systemic risk
SACRAMENTO, CA – Rob Feckner, President of the CalPERS Board of Administration announced today the formation of a new ad hoc board committee to review and enhance the framework for system wide risk of the pension fund’s governance and operations, including its primary business of investments, health care and retirement.
“We want the strongest possible risk assessment tools appropriate,” said Feckner. “We want to enhance our risk assessment framework to help protect our systems and programs, and keep focused on addressing all the right questions.”
In addition to the CalPERS Board President, the Risk Management Committee will include the current Chairs of all other board committees. They are:
- George Diehr, Investment Committee
- Henry Jones, Investment Policy Subcommittee
- Priya Mathur, Health Benefits Committee
- Lou Moret, Performance and Compensation Committee
- Tony Oliveira, Finance Committee, and
- Kurato Shimada, Benefits and Program Administration Committee
“This committee will enable us to focus on a disciplined risk strategy across our entire operations,” said Feckner.
The first meeting of the committee will be held on Monday, April 20, 2009, where a Chair will be elected. The work and policy recommendations will be reported to the full CalPERS Board for final consideration and approval.
CalPERS is the nation’s largest public pension fund with approximately $174 billion in market assets. It provides retirement benefits to more than 1.6 million State, school, and local public employees, retirees and their families, and health benefits to nearly 1.3 million members. For more information on CalPERS, visit www.calpers.ca.gov.