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.)

Meeting Agenda for February 19, 2019

Closed Session

8:30 a.m.

  1. Item
    1. Chief Executive Officer's Briefing on Performance, Employment, and Personnel Items
      (Government Code sections 11126(a)(1), (e), and (g)(1))

Closed Session

3:00 p.m.

  1. Item
    1. Call to Order and Roll Call
    2. Approval of the November 15, 2018 Board of Administration Closed Session Meeting Minutes
    3. Litigation MattersMatthew Jacobs
      1. Sanchez, et al. v. CalPERS, et al. (Los Angeles County Superior Court, Case No. BC517444)
      2. Potential Litigation – Investment Matter
      3. Potential Litigation – Program Administration Matter

Meeting Agenda for February 20, 2019

View Open Session Meeting Transcript (PDF)

Open Session

9:00 a.m.

  1. Item
    1. Call to Order and Roll Call
    2. Approval of the February 20, 2019 Board of Administration Timed Agenda (PDF)
    3. Full Board HearingHenry Jones
      1. Mark L. Wheeler, Thomas R. Valdez, John M. Lopez, Larry D. Blackwell & Garry G. Cohoe (consolidated) (PDF)
        1. Attachment A – Staff's Argument (PDF)
        2. Attachment B – Respondent's Argument (PDF)
        3. Attachment C –
          1. Full Board Hearing Procedures
          2. Notice of Full Board Hearing and Proof of Service
        4. Attachment D – April 11, 2018 Administrative Hearing Transcript (PDF)
        5. Attachment E – November 15, 2018 Board Agenda Item (PDF)
        6. Attachment F – November 15, 2018 Board Meeting Transcript (PDF)
        7. Attachment G – CalPERS' Hearing Exhibits
          1. Exhibit List (PDF)
          2. CalPERS' Exhibit 1 (PDF)
          3. CalPERS' Exhibit 2 (PDF)
          4. CalPERS' Exhibit 3 (PDF)
          5. CalPERS' Exhibit 4 (PDF)
          6. CalPERS' Exhibit 5 (PDF)
          7. CalPERS' Exhibit 6 (PDF)
          8. CalPERS' Exhibit 7 (PDF)
          9. CalPERS' Exhibit 8 (PDF)
          10. CalPERS' Exhibit 9 (PDF)
          11. CalPERS' Exhibit 10 (PDF)
          12. CalPERS' Exhibit 11 (PDF)
          13. CalPERS' Exhibit 12 (PDF)
          14. CalPERS' Exhibit 13 (PDF)
          15. CalPERS' Exhibit 14 (PDF)
          16. CalPERS' Exhibit 15 (PDF)
          17. CalPERS' Exhibit 16 (PDF)
          18. CalPERS' Exhibit 17 (PDF)
          19. CalPERS' Exhibit 18 (PDF)
          20. CalPERS' Exhibit 19 (PDF)
          21. CalPERS' Exhibit 20 (PDF)
          22. CalPERS' Exhibit 21 (PDF)
          23. CalPERS' Exhibit 22 (PDF)
          24. CalPERS' Exhibit 23 (PDF)
          25. CalPERS' Exhibit 24 (PDF)
          26. CalPERS' Exhibit 25 (PDF)
          27. CalPERS' Exhibit 26 (PDF)
          28. CalPERS' Exhibit 27 (PDF)
          29. CalPERS' Exhibit 28 (PDF)
          30. CalPERS' Exhibit 29 (PDF)
          31. CalPERS' Exhibit 30 (PDF)
          32. CalPERS' Exhibit 31 (PDF)
          33. CalPERS' Exhibit 32 (PDF)
          34. CalPERS' Exhibit 33 (PDF)
          35. CalPERS' Exhibit 34 (PDF)
          36. CalPERS' Exhibit 35 (PDF)
          37. CalPERS' Exhibit 36 (PDF)
          38. CalPERS' Exhibit 37 (PDF)
          39. CalPERS' Exhibit 38 (PDF)
          40. CalPERS' Exhibit 39 (PDF)
          41. CalPERS' Exhibit 40 (PDF)
          42. CalPERS' Exhibit 41 (PDF)
          43. CalPERS' Exhibit 42 (PDF)
          44. CalPERS' Exhibit 43 (PDF)
          45. CalPERS' Exhibit 44 (PDF)
          46. CalPERS' Exhibit 45 (PDF)
          47. CalPERS' Exhibit 46 (PDF)
          48. CalPERS' Exhibit 47 (PDF)
          49. CalPERS' Exhibit 48 (PDF)
          50. CalPERS' Exhibit 49 (PDF)
          51. CalPERS' Exhibit 50 (PDF)
          52. CalPERS' Exhibit 51 (PDF)
          53. CalPERS' Exhibit 52 (PDF)
          54. CalPERS' Exhibit 53 (PDF)
          55. CalPERS' Exhibit 54 (PDF)
          56. CalPERS' Exhibit 55 (PDF)
          57. CalPERS' Exhibit 56 (PDF)
          58. CalPERS' Exhibit 57 (PDF)
          59. CalPERS' Exhibit 58 (PDF)
          60. CalPERS' Exhibit 59 (PDF)
          61. CalPERS' Exhibit 60 (PDF)
          62. CalPERS' Exhibit 61 (PDF)
          63. CalPERS' Exhibit 62 (PDF)
          64. CalPERS' Exhibit 63 (PDF)
          65. CalPERS' Exhibit 64 (PDF)
          66. CalPERS' Exhibit 65 (PDF)
          67. CalPERS' Exhibit 66 (PDF)
          68. CalPERS' Exhibit 67 (PDF)
          69. CalPERS' Exhibit 68 (PDF)
          70. CalPERS' Exhibit 69 (PDF)
          71. CalPERS' Exhibit 70 (PDF)
          72. CalPERS' Exhibit 71 (PDF)
          73. CalPERS' Exhibit 72 (PDF)
          74. CalPERS' Exhibit 73 (PDF)
          75. CalPERS' Exhibit 74 (See Attachment I Stipulation of Facts)
          76. CalPERS' Exhibit 75 (PDF)
          77. CalPERS' Exhibit 76 (PDF)
          78. CalPERS' Exhibit 77 (See Attachment I CalPERS' Closing Brief)
          79. CalPERS' Exhibit 78 (See Attachment I CalPERS' Reply Brief)
        8. Attachment H – Respondents' Hearing Exhibits
          1. Exhibit List (PDF)
          2. Respondents' Exhibit A (PDF)
          3. Respondents' Exhibit B (PDF)
          4. Respondents' Exhibit C (See Attachment I Appellants' Post Hearing Brief)
          5. Respondents' Exhibit D – Legislative Intent Service Materials, Volume 1
            1. Part 1 (PDF)
            2. Part 2 (PDF)
          6. Respondents' Exhibit E – Legislative Intent Service Materials, Volume 2 (PDF)
        9. Attachment I – Other Pleadings
          1. Stipulation of Facts (PDF)
          2. CalPERS' Closing Brief (PDF)
          3. Appellants' Post Hearing Brief (PDF)
          4. CalPERS' Reply Brief (PDF)
          5. Appellants' Reply Brief (PDF)
          6. Office of Administrative Hearings' Order Re-Opening Record (PDF)
          7. Memorandum from Administrative Law Judge Montoya to CalPERS and Respondents (PDF)

Closed Session

    1. Deliberate on Full Board Hearing (Government Code section 11126(c)(3))
      1. Mark L. Wheeler, Thomas R. Valdez, John M. Lopez, Larry D. Blackwell & Garry G. Cohoe (consolidated)

Open Session

    1. Take Action on Full Board Hearing
      1. Mark L. Wheeler, Thomas R. Valdez, John M. Lopez, Larry D. Blackwell & Garry G. Cohoe (consolidated)

Meeting Agenda for February 21, 2019

View Open Session Meeting Transcript (PDF)

Closed Session

8:30 a.m.
(Government Code sections 11126(a)(1), (e), and (g)(1))

    1. Chief Executive Officer's Briefing on Performance, Employment, and Personnel Issues
    2. Committee Reports and Actions

Open Session

10:00 a.m.
Or upon adjournment of the Finance & Administration Committee – Whichever is later

  1. Item
    1. Call to Order and Roll Call (PDF)
    2. Approval of the February 21, 2019 Board of Administration Timed Agenda (PDF)
    3. Pledge of Allegiance (Oral Report)Henry Jones
    4. Board President's Report (Oral Report)Henry Jones
    5. Chief Executive Officer's Report (Oral Report)Marcie Frost
    6. Action Consent ItemsHenry Jones
      1. Approval of the December 19, 2018 Board of Administration Meeting Minutes (PDF)
      2. Board Travel Approvals (PDF)
    7. Information Consent ItemsHenry Jones
      1. Board Meeting Calendar (PDF)
      2. Draft Agenda for the March 20, 2019 Board of Administration Meeting (PDF)
      3. General Counsel's Report (PDF)
        1. Attachment 1 (PDF)
      4. Communications and Stakeholder Relations (PDF)
        1. Attachment 1 (PDF)
        2. Attachment 2 (PDF)
    8. Committee Reports and Actions
      1. Investment Committee (PDF)Henry Jones
      2. Pension & Health Benefits Committee (Oral Report)
      3. Finance & Administration Committee (PDF)
      4. Performance, Compensation & Talent Management Committee (PDF)
      5. Risk & Audit Committee (PDF)
      6. Board Governance Committee (Oral Report)
    9. Action Agenda Items
      1. Proposed Decisions of Administrative Law Judges (PDF)Henry Jones
        1. Donna D. Dortch & Margie A. Dortch (Dortch, Walter Jr. (dec.) (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        2. John R. Mason (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        3. Richard M. Gomula (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        4. Martha S. Arreola (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        5. Steven C. Erickson (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        6. Edith A. Schenone (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        7. Dianne L. Russo (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        8. Ana Marie Valenzuela (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        9. Robin E. Milovich (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        10. Denise D. Daniel (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        11. Adam M. Birnbaum (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        12. Tracy A. Folau (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        13. Alan J. Soares (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        14. Janece L. Maez (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        15. Joe O. Anaya (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        16. Tiffany D. Braithwaite (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        17. Juanita Rodriguez (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        18. Stacy L. Van Lente (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        19. Robert D. Nicholson (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        20. Edward Armstrong (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        21. Kenneth E. Robinson (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        22. Santosh Kumari (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        23. Niles M. Emerson (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
        24. Kristin A. Youngblood (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
          3. Attachment C (PDF)
      2. Designation of Precedential DecisionHenry Jones
        1. Tracy C. Fuller (PDF)
          1. Attachment A (PDF)
      3. Full Board Hearing DecisionHenry Jones
        1. Mark L. Wheeler, Thomas R. Valdez, John M. Lopez, Larry D. Blackwell & Garry G. Cohoe (consolidated) (PDF)
          1. Attachment A (PDF)
          2. Attachment B (PDF)
    10. Information Agenda Items
      1. Enterprise Performance Reporting – Second Quarter and 2019-20 CalPERS Business Plan (PDF)Sabrina Hutchins
        1. Attachment A (PDF)
        2. Attachment B (PDF)
        3. Attachment C (PDF)
        4. Attachment D (PDF)
        5. Attachment E (PDF)
        6. Attachment F (PDF)
      2. State and Federal Legislation Update (PDF)Danny Brown
        1. Attachment 1 (PDF)
      3. Summary of Board Direction (Oral Report)Marcie Frost
      4. Public Comment
    11. Approval to Meet in Closed Session Pursuant to Government Code Section 11126(c)(18)(A)Henry Jones

Closed Session

Upon Adjournment or Recess of Open Session (Government Code sections 11126(c)(18)(A))

  1. Item
    1. Call to Order and Roll Call
    2. Enterprise Performance Reporting: Information Security Update and Cyber Security BriefingChristian Farland

Open Session

Upon Adjournment of Closed Session

  1. Item
    1. Report Out on Enterprise Performance Reporting: Information Security Update and Cyber Security BriefingHenry Jones

Notes

  1. 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 immediately prior to this Board meeting, may be considered by the Board.
  2. 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.
  3. Public comment may be taken on any agenda item. There is a three-minute limitation on each public comment, unless otherwise directed by the Presiding Officer. (Cal. Code Regs. tit. 2, § 552.1.)


Location

CalPERS Headquarters
Robert F. Carlson Auditorium
Lincoln Plaza North
400 P Street
Sacramento, CA 95811

Parking
CalPERS Building Guide (PDF)

Security

For your safety, attendees are screened upon entering the auditorium.