Performance, Compensation & Talent Management Committee - June 16, 2026

The Performance, Compensation & Talent Management 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 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. Board members may attend meetings of committees of which they are not members and participate in the discussions during those meetings. In accordance with Government Code section 11123.2 (amended by Stats. 2025, ch. 222, § 1), Board members may participate remotely via teleconference.

Meeting Agenda for June 16, 2026

Open Session

9:00 a.m. or upon adjournment of the Pension & Health Benefits Committee Meeting – Whichever is later

1. Item
   1. Call to Order and Roll Call (PDF)
   2. Executive Report (PDF) – Doug Hoffner
   3. Action Consent Items – Doug Hoffner
      1. Approval of the June 16, 2026, Performance, Compensation & Talent Management Committee Timed Agenda (PDF)
      2. Approval of the April 13, 2026, Performance, Compensation & Talent Management Committee Meeting Minutes (PDF)
   4. Information Consent Items – Doug Hoffner
      1. Annual Calendar Review (PDF)
      2. Draft Agenda for the September 15, 2026, Performance, Compensation & Talent Management Committee Meeting (PDF)
   5. Action Agenda Items
      1. Annual Review: 2026-27 Incentive Metrics (PDF) – Michelle Tucker; Global Governance Advisors
         1. Attachment 1 (PDF) - Incentive Metrics Review for Fiscal Year 2026-27 (Global Governance Advisors)
         2. Attachment 2 (PDF) - Board’s Investment Consultant Opinion Letter (Wilshire Consulting)
      2. 2026-27 Incentive Plan of the Chief Executive Officer (PDF) – Michelle Tucker; Global Governance Advisors
         1. Attachment 1 (PDF) - Opinion Letter (Global Governance Advisors)
         2. Attachment 2 (PDF) - CEO’s Proposed Incentive Plan for Fiscal Year 2026-27 (Global Governance Advisors)
   6. Information Agenda Items
      1. Summary of Committee Direction – Doug Hoffner
      2. Public Comment
   7. Adjournment of Meeting