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.)

BOARD OF ADMINISTRATION EDUCATIONAL DAY

TUESDAY, JANUARY 21, 2020
AGENDA

Note: Location has been moved to Lincoln Plaza North, Room 1140

8:30 A.M. - Welcome/Opening

1. Henry Jones, President, CalPERS Board of Administration
   Marcie Frost, Chief Executive Officer, CalPERS

8:45 A.M. - Pledge of Allegiance

8:45 A.M. - Swearing-In Ceremony for New Board Member (Placeholder)

8:50 A.M. - Election of President/Vice President

8:55 A.M. - Board Travel Approval (PDF)

9:00 A.M. - Cybersecurity: Governance and Best Practices in a Shifting Threat Landscape (Board Education) (PDF)

1. Moderator
   Liana Bailey-Crimmins, Chief Information Security Officer, CalPERS

1. Presenter (PDF)
   Aravind Swaminathan, Partner, Orrick Herrington & Sutcliffe

1. PowerPoint Presentation
   Cybersecurity: Governance and Best Practices in a Shifting Threat Landscape (PDF)

1. Approval to Meet in Closed Session Pursuant to Government Code Section 11126(c)(18)(A)

1. Closed Session (Government Code section 11126(c)(18)(A))

1. Information Security Update and Cybersecurity Briefing

1. Open Session

1. Report Out on Information Security Update and Cybersecurity Briefing

10:30 A.M. - Break

10:45 A.M. - Actuarial Essentials (Board Education) (PDF)

1. Moderator
   Scott Terando, Chief Actuary, CalPERS

1. Presenters
   Fritzie Archuleta, Deputy Chief Actuary, CalPERS
   Randall Dziubek, Deputy Chief Actuary, CalPERS

1. PowerPoint Presentation
   Actuarial Essentials (PDF)

11:45 A.M. - Lunch Break

12:45 P.M. - Fiduciary Training (Board Education) (PDF)

1. Moderator
   Matthew Jacobs, General Counsel, CalPERS

1. Presenter (PDF)
   Ashley Dunning, Partner, Nossaman LLP

1. PowerPoint Presentation
   Fiduciary Principles to Guide Public Retirement System Trustees (PDF)

2:15 P.M. - Break

2:30 P.M. - Health Care Cost Drivers Nationally and in California: What Are They and How Are They Changing? (Board Education) (PDF)

1. Moderator
   Don Moulds, Chief Health Director, CalPERS

1. Presenters (PDF)
   Niall Brennan, President and CEO, Health Care Cost Institute
   Kristof Stremikis, Director of Market Analysis and Insight, California Healthcare Foundation

1. PowerPoint Presentations
   It's Still The Prices Stupid: Observations on Health Care Spending in the U.S. (PDF)
   Health Spending in California (PDF)

4:00 P.M. (Time Certain) - How the California State Legislature Addresses Allegations of Workplace Harassment (This item will be presented verbally)

1. Moderator
   Marcie Frost, Chief Executive Officer, CalPERS

1. Presenters
   Assembly Member Laura Friedman, California State Legislature
   Senator Connie Leyva, California State Legislature
   Senator Holly Mitchell, California State Legislature

4:30 P.M. - Closed Session (Government Code Sections 11126(a)(1), (c)(16), and (e))

1. Personnel, Employment, Performance and Investment Strategy
2. Litigation Matters
   1. a. Sanchez, et al. v. CalPERS, et al. (Los Angeles County Superior Court, Case No. BC517444)
   2. b. Centinela Capital Partners, LLC v. CalPERS, et al. (California Court of Appeal for the Second District, Case No. B284595)
   3. c. Kesterson, et al. v. CalPERS (Los Angeles County Superior Court, Case No. BC502628)
   4. d. General Counsel’s Update on Pending Litigation

5:00 P.M. - ADJOURN

BOARD OF ADMINISTRATION STAKEHOLDER FORUM

WEDNESDAY, JANUARY 22, 2020
AGENDA

8:30 A.M. - Welcome/Opening/Logistics

1. Room
   CalPERS Auditorium
   Henry Jones, President, CalPERS Board of Administration

9:00 A.M. - Break-out Session 1a: Addressing Key Risks to the System (Employers) (PDF)

1. Room
   Lincoln Plaza North, 1140

1. Moderator
   Brad Pacheco, Deputy Executive Officer, Communications & Stakeholder Relations, CalPERS

1. Presenters
   Yu (Ben) Meng, Chief Investment Officer, CalPERS
   Scott Terando, Chief Actuary, CalPERS
   Anne Simpson, CalPERS

1. Board Participants
   Henry Jones
   Lisa Middleton
   Theresa Taylor
   Stacie Olivares

1. PowerPoint Presentation
   Addressing Key Risks to the System (PDF)

9:00 A.M. - Break-out Session 2a: Health Care (Retirees) (PDF)

1. Room
   Lincoln Plaza West, 1600x

1. Moderator
   David Teykaerts, Stakeholder Strategy Manager, CalPERS

1. Presenters
   Marta Green, Chief of Health Plan Research & Administration, CalPERS
   Don Moulds, Chief Health Director, CalPERS

1. Board Participants
   Betty Yee
   Rob Feckner
   Ramon Rubalcava
   Margaret Brown

1. PowerPoint Presentation
   Health Care (PDF)

9:00 A.M. - Break-out Session 3a: The Road Ahead: Pension & Health Care Issues in 2020 and Beyond (Labor) (PDF)

1. Room
   Lincoln Plaza East, 1821/31

1. Moderator
   Kelly Fox, Chief of Stakeholder Relations, CalPERS

1. Presenters
   Michael Cohen, Chief Financial Officer, CalPERS
   Danny Brown, Chief, Legislative Affairs, CalPERS
   Renee Ostrander, Chief, Employer Account Management, CalPERS
   Anthony Suine, Chief, Retirement Benefit Services, CalPERS
   Rob Jarzombek, Chief, Health Account Management, CalPERS

1. Board Participants
   Fiona Ma
   David Miller
   Jason Perez
   Eraina Ortega

1. PowerPoint Presentation
   The Road Ahead: Pension & Health Care Issues in 2020 and Beyond (PDF)

10:30 A.M. - Break

10:45 A.M. - Break-out Session 1b: Addressing Key Risks to the System (Retirees) (PDF)

1. Room
   Lincoln Plaza North, 1140

1. Moderator
   Brad Pacheco, Deputy Executive Officer, Communications & Stakeholder Relations, CalPERS

1. Presenters
   Yu (Ben) Meng, Chief Investment Officer, CalPERS
   Scott Terando, Chief Actuary, CalPERS
   Anne Simpson, CalPERS

1. Board Participants
   Henry Jones
   Lisa Middleton
   Theresa Taylor
   Stacie Olivares

1. PowerPoint Presentation
   Addressing Key Risks to the System (PDF)

10:45 A.M. - Break-out Session 2b: Health Care (Labor) (PDF)

1. Room
   Lincoln Plaza West, 1600x

1. Moderator
   David Teykaerts, Stakeholder Strategy Manager, CalPERS

1. Presenters
   Marta Green, Chief of Health Plan Research & Administration, CalPERS
   Don Moulds, Chief Health Director, CalPERS

1. Board Participants
   Betty Yee
   Rob Feckner
   Ramon Rubalcava
   Margaret Brown

1. PowerPoint Presentation
   Health Care (PDF)

10:45 A.M. - Break-out Session 3b: The Road Ahead: Pension & Health Care Issues in 2020 and Beyond (Employers) (PDF)

1. Room
   Lincoln Plaza East, 1821/31

1. Moderator
   Kelly Fox, Chief of Stakeholder Relations, CalPERS

1. Presenters
   Michael Cohen, Chief Financial Officer, CalPERS
   Danny Brown, Chief, Legislative Affairs, CalPERS
   Renee Ostrander, Chief, Employer Account Management, CalPERS
   Anthony Suine, Chief, Retirement Benefit Services, CalPERS
   Rob Jarzombek, Chief, Health Account Management, CalPERS

1. Board Participants
   Fiona Ma
   David Miller
   Jason Perez
   Eraina Ortega

1. PowerPoint Presentation
   The Road Ahead: Pension & Health Care Issues in 2020 and Beyond (PDF)

12:15 P.M. - Lunch

1:30 P.M. - Break-out Session 1c: Addressing Key Risks to the System (Labor) (PDF)

1. Room
   Lincoln Plaza North, 1140

1. Moderator
   Brad Pacheco, Deputy Executive Officer, Communications & Stakeholder Relations, CalPERS

1. Presenters
   Yu (Ben) Meng, Chief Investment Officer, CalPERS
   Scott Terando, Chief Actuary, CalPERS
   Anne Simpson, CalPERS

1. Board Participants
   Henry Jones
   Lisa Middleton
   Stacie Olivares

1. PowerPoint Presentation
   Addressing Key Risks to the System (PDF)

1:30 P.M. - Break-out Session 2c: Health Care (Employers) (PDF)

1. Room
   Lincoln Plaza West, 1600x

1. Moderator
   David Teykaerts, Stakeholder Strategy Manager, CalPERS

1. Presenters
   Marta Green, Chief of Health Plan Research & Administration, CalPERS
   Don Moulds, Chief Health Director, CalPERS

1. Board Participants
   Betty Yee
   Rob Feckner
   Ramon Rubalcava
   Margaret Brown

1. PowerPoint Presentation
   Health Care (PDF)

1:30 P.M. - Break-out Session 3c: The Road Ahead: Pension & Health Care Issues in 2020 and Beyond (Retirees) (PDF)

1. Room
   Lincoln Plaza East, 1821/31

1. Moderator
   Kelly Fox, Chief of Stakeholder Relations, CalPERS

1. Presenters
   Michael Cohen, Chief Financial Officer, CalPERS
   Danny Brown, Chief, Legislative Affairs, CalPERS
   Renee Ostrander, Chief, Employer Account Management, CalPERS
   Anthony Suine, Chief, Retirement Benefit Services, CalPERS
   Rob Jarzombek, Chief, Health Account Management, CalPERS

1. Board Participants
   Fiona Ma
   David Miller
   Jason Perez
   Eraina Ortega

1. PowerPoint Presentation
   The Road Ahead: Pension & Health Care Issues in 2020 and Beyond (PDF)

3:00 P.M. - ADJOURN

NOTE: All times are approximate and for reference only. The Board of Administration may consider an item at a different time than set forth herein. The Board may take action on any items that are designated for information. Public comment may be taken on any agenda item. There is a three-minute limitation on public comment, unless otherwise directed by the Presiding Officer. (Cal. Code Regs. tit. 2, § 552.1.)