Risk & Audit Committee - June 17, 2026

The Risk & Audit Committee oversees system soundness, enterprise risk management, internal and external audits, privacy and information security, ethics, compliance and other independent reassurance activities.

(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 17, 2026

Open Session

8:30 a.m.

1. Item
   1. Call to Order and Roll Call (PDF)
   2. Executive Report (PDF) – Kevin L. Fein
   3. Action Consent Items – Kevin L. Fein
      1. Approval of the June 17, 2026, Risk & Audit Committee Timed Agenda (PDF)
      2. Approval of the February 17, 2026, Risk & Audit Committee Meeting Minutes (PDF)
   4. Information Consent Items – Kevin L. Fein
      1. Annual Calendar Review (PDF)
      2. Draft Agenda for the September 15, 2026, Risk & Audit Committee Meeting (PDF)
      3. Quarterly Status Report (PDF) - Office of Audit Services
         1. Attachment 1 (PDF) - Employer Compliance Review – Open Observations Over 1 Year
      4. Status Report – Enterprise Compliance Activity (PDF)
         1. Attachment 1 (PDF) - Status Report – Enterprise Compliance Activity – January FY 2025-26
         2. Attachment 2 (PDF) - Status Report – Enterprise Compliance Activity – February FY 2025-26
         3. Attachment 3 (PDF) - Status Report – Enterprise Compliance Activity – March FY 2025-26
         4. Attachment 4 (PDF) - Status Report – Enterprise Compliance Activity – April FY 2025-26
   5. Agenda Action Items
      1. 2026-27 Enterprise Compliance, Risk & Governance Annual Plan (PDF) – Kevin L. Fein
         1. Attachment 1 (PDF) - FY 2026-27 Enterprise Compliance, Risk & Governance Annual Plan
         2. Attachment 2 (PDF) - FY 2026-27 Enterprise Compliance, Risk & Governance Annual Plan Slide Deck
      2. 2026-27 Office of Audit Services Plan (PDF) – Beliz Chappuie
         1. Attachment 1 (PDF) - Office of Audit Services Audit Plan FY 2026-27
      3. Independent Auditor’s Annual Plan (PDF) – Plante Moran
         1. Attachment 1 (PDF) - California Public Employees’ Retirement System Audit Plan, Year Ending June 30, 2026
   6. Information Agenda Items
      1. Third Party Valuation and Certification of the 2024 CalPERS Annual Valuations for Public Agencies (PDF) – Randall Dziubek and Cheiron, Inc.
         1. Attachment 1 (PDF) - Parallel Valuation and Certification Report – Public Agencies
      2. 2025-26 Annual Compliance Report (PDF) – Kevin L. Fein
         1. Attachment 1 (PDF) - Annual Compliance Report – Fiscal Year Ended June 30, 2026
      3. Summary of Committee Direction – Kevin L. Fein
      4. Public Comment

Closed Session

Upon Adjournment or Recess of Open Session (Government Code sections 11126(a)(1) and (g)(1))

1. Item
   1. Call to Order and Roll Call 
   2. Action Consent Items – Kevin L. Fein
      1. Approval of the February 17, 2026, Risk & Audit Committee Closed Session Meeting Minutes
   3. Information Agenda Items
      1. Personnel, Employment and Performance, Chief Compliance Officer – Kevin L. Fein
      2. Personnel, Employment and Performance, Chief Auditor – Beliz Chapuie

Open Session

Upon adjournment of the Closed Session

1. Item
   7. Adjournment of Meeting