Board members serve on committees to review specific programs, projects, or issues and make recommendations to the Board. The Board of Administration consists of six committees:

  • Board Governance
  • Finance & Administration
  • Investment
  • Pension & Health Benefits
  • Performance, Compensation & Talent Management
  • Risk & Audit

Each Board member serves on at least one committee. Each committee generally meets once each month.

Board Governance Committee

The Board Governance committee is responsible for the Board's self-management, governance practices, and accountability as pension fund fiduciaries. They manage governance protocols and policies. View the Delegation Resolution - Board Governance Committee (PDF).

  • Theresa Taylor, Chair
  • David Miller, Vice Chair
  • Malia M. Cohen
  • Fiona Ma
  • Eraina Ortega
  • Kevin Palkki
  • Yvonne Walker

Finance & Administration Committee

The Finance & Administration Committee ensures financial soundness through oversight of financial statements and reporting as well as all budget matters. View the Delegation Resolution — Finance & Administration Committee (PDF).

  • Lisa Middleton, Chair
  • David Miller, Vice Chair
  • Fiona Ma
  • Jose Luis Pacheco
  • Ramon Rubalcava
  • Theresa Taylor
  • Yvonne Walker

Investment Committee

The Investment Committee reviews and approves portfolio performance, asset allocation, investment transactions, and investment manager performance. They establish investment strategies and policies. View the Delegation Resolution - Investment Committee (PDF).

  • David Miller, Chair
  • Theresa Taylor, Vice Chair
  • Malia M. Cohen
  • Fiona Ma
  • Lisa Middleton
  • Eraina Ortega
  • Jose Luis Pacheco
  • Kevin Palkki
  • Ramon Rubalcava
  • Yvonne Walker
  • Mullissa Willette
  • Gail Willis

Pension & Health Benefits Committee

The Pension & Health Benefits Committee oversees all matters related to strategy, policy, structure, and actuarial studies as well as rate setting for pension, health, and CalPERS Long-Term Care Program administration. View the Delegation Resolution - Pension & Health Benefits Committee (PDF).

  • Ramon Rubalcava, Chair
  • Jose Luis Pacheco, Vice Chair
  • Malia M. Cohen
  • David Miller
  • Eraina Ortega
  • Kevin Palkki
  • Theresa Taylor
  • Yvonne Walker
  • Mullissa Willette

Performance, Compensation & Talent Management Committee

The Performance, Compensation & Talent Management Committee oversees compensation mechanisms and criteria, and the hiring, termination, compensation, and long-term succession planning of key personnel. View the Delegation Resolution - Performance, Compensation & Talent Management Committee (PDF).

  • Jose Luis Pacheco, Chair
  • Mullissa Willette, Vice Chair
  • Lisa Middleton
  • Eraina Ortega
  • Kevin Palkki
  • Theresa Taylor
  • Yvonne Walker

Risk & Audit Committee

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. View the Delegation Resolution - Risk & Audit Committee (PDF, 4.9 MB).

  • David Miller, Chair
  • Lisa Middleton, Vice Chair
  • Malia M. Cohen
  • Fiona Ma
  • Jose Luis Pacheco
  • Ramon Rubalcava
  • Mullissa Willette

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