Board of Administration Offsite Agenda

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.)

AGENDA – DAY ONE
MONDAY, JULY 13, 2020

8:15 A.M. - Welcome/Opening

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

8:30 A.M. - Human Capital Management Update (Board Education) (PDF)

1. Moderator
   Anne Simpson, Interim Managing Investment Director, CalPERS

1. Presenters (PDF)
   Hana Thier, Senior Software Engineer, Amazon Web Services
   Anthony Hesketh, Professor, Lancaster University
   Cambria Allen-Ratzlaff, Chair, HCM Coalition/VEBA
   Ashley Marchand Orme, Senior Manager of Strategic Directives, National Association of Corporate Directors

1. PowerPoint Presentation
   Intangible or Invisible? The growing case for human capital disclosure by firms (PDF)
   HCMC Introduction, Approach, and Activities (PDF)

9:45 A.M. - Break

Asset Class Education "Fireside Chats" (Board Education)

10:00 A.M. - Public Equity: Index Construction and Investing (PDF)

1. Presenters (PDF)
   Dan Bienvenue, Deputy Chief Investment Officer, CalPERS
   Henry Fernandez, Chief Executive Officer, MSCI

11:00 A.M. - Private Equity: Lessons from the Last Three Decades (PDF)

1. Presenters (PDF)
   Greg Ruiz, Managing Investment Director, CalPERS
   Mario Giannini, Chief Executive Officer, Hamilton Lane

12:00 P.M. - Lunch Break

12:45 P.M. - Asset Allocation Educational Discussion (Board Education) (PDF)

1. Presenters (PDF)
   Thomas Toth, Managing Director, Wilshire Associates
   Steve Foresti, Chief Investment Officer, Wilshire Associates
   Ali Kazemi, Head of Risk Management, Wilshire Associates

1. PowerPoint Presentation
   Improving Asset Allocation Decisions (PDF)

2:15 P.M. - Break

2:30 P.M. - Asset Liability Management Process and Timeline (Board Education) (PDF)

1. Presenters
   Michael Cohen, Chief Financial Officer, CalPERS
   Scott Terando, Chief Actuary, CalPERS
   Christine Reese, Investment Director, CalPERS

1. PowerPoint Presentation
   Asset Liability Management Process and Timeline (PDF)

1. Background Information
   CalPERS Asset Liability Management Cycle (PDF)

3:30 P.M. - Capital Market Assumptions Methodology (Board Education) (PDF)

1. Presenters
   Dianne Sandoval, Investment Manager, CalPERS
   Alison Li, Investment Manager, CalPERS

1. PowerPoint Presentation
   Capital Market Assumptions Methodology Board Education Session (PDF)

4:15 P.M. - Adjourn

AGENDA – DAY TWO
TUESDAY, JULY 14, 2020

9:00 A.M. - Welcome/Opening

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

9:15 A.M. - Action Item - Approval of 2021 Health Maintenance Organization Rates and Approval of 2021 Preferred Provider Organization Rates (PDF)

1. Presenter
   Marta Green, Chief, Health Plan Research & Administration Division, CalPERS

1. PowerPoint Presentation
   Approval of 2021 Health Maintenance Organization and Preferred Provider Organization Rates (PDF)

1. Background Information
   Approval of 2021 Health Maintenance Organization Rates and Approval of 2021 Preferred Provider Organization Rates (PDF)

10:30 A.M. - 2021 Association Plan Rates (PDF)

1. Presenter
   Marta Green, Chief, Health Plan Research & Administration Division, CalPERS

1. PowerPoint Presentation
   2021 Association Plan Rates (PDF)

1. Background Information
   2021 Association Plan Rates (PDF)

10:45 A.M. - 2021 State Annuitant Contribution Formulas(PDF)

1. Presenter
   Marta Green, Chief, Health Plan Research & Administration Division, CalPERS

1. PowerPoint Presentation
   2021 State Annuitant Contribution Formulas (PDF)

11:00 A.M. - Break

11:15 A.M. - Healthcare Competition (PDF)

1. Presenters (PDF)
   Don Moulds, Chief Health Director, CalPERS
   Leemore Dafny, Professor at Harvard University & Academic Affiliate at Bates White Economic Consulting

1. PowerPoint Presentation
   Healthcare Competition (PDF)

1. Background Information
   Healthcare Competition: Background, Current Research, and Strategy Development (PDF)

12:15 P.M. - Lunch Break

1:15 P.M. - Risk Mitigation Strategies (PDF)

1. Presenters (PDF)
   Marta Green, Chief, Health Plan Research & Administration Division, CalPERS
   Dave Moody, FSA, MAAA, Partner, Mercer Consulting
   E. Clayton Levister III, Principal, Mercer Consulting

1. PowerPoint Presentation
   Risk Mitigation Strategies (PDF)

2:15 P.M. - Strategic Plan Discussion (PDF)

1. Moderator
   Sabrina Hutchins, Chief, Enterprise Strategy and Performance Division, CalPERS

1. Presenters
   Don Moulds, Chief Health Director, CalPERS
   Michael Cohen, Chief Financial Officer, CalPERS
   Doug Hoffner, Chief Operating Officer, CalPERS
   Brad Pacheco, Deputy Executive Officer, Communications & Stakeholder Relations, CalPERS

1. PowerPoint Presentation
   Strategic Plan Discussion (PDF)

1. Background Information
   High-Quality Affordable Health Care: Strategic Measure Summaries (PDF)

3:00 P.M. - State and Federal Legislative Update (PDF)

1. Presenters
   Danny Brown, Chief, Legislative Affairs Division, CalPERS
   Daniel F. C. Crowley, Partner, K & L Gates
   William A. Kirk, Partner, K & L Gates
   Karishma Shah Page, Partner, K & L Gates

1. Background Information
   State and Federal Legislative Update – Bill List (PDF)

3:45 P.M. - Action Item – Assembly Bill 1140 (Stone) – District Consolidation (PDF)

1. Presenter
   Danny Brown, Chief, Legislative Affairs Division, CalPERS

4:00 P.M. - Adjourn

AGENDA – DAY THREE
WEDNESDAY JULY 15, 2020

9:00 A.M. - Welcome/Opening

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

9:15 A.M. - Action Item – Proposed Decisions of Administrative Law Judges

1. a. Kimberly A. O'Donnell
   1. Attachment A
   2. Attachment B
   3. Attachment C
2. b. Samuel E. Harvey
   1. Attachment A
   2. Attachment B
   3. Attachment C

9:30 A.M. - Action Item – Petition for Reconsideration

1. a. Jack Howard
   1. Attachment A
   2. Attachment B
   3. Attachment C
   4. Attachment D
   5. Attachment E

9:45 A.M. - The Board's Role in Culture in the New Era: Unleashing Value Via Cultural Intelligence (Board Education) (PDF)

1. Presenter
   Anthony Lopez, Founder, CEO, & Managing Partner for L&L Associates

1. PowerPoint Presentation
   The Board's Role in Culture in the New Era: Unleashing Value Via Cultural Intelligence (PDF)

11:45 A.M. - Break

12:00 P.M. - Closed Session – Litigation Matters (Government Code sections 11126(a)(1), (e), and (g))

1. a. Sanchez, et al, v. CalPERS, et al. (Los Angeles County Superior Court, Case No. BC517444)
2. b. General Counsel's Update on Pending Litigation

12:30 P.M. - Adjourn Offsite

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 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. In accordance with Executive Orders N-29-20, N-33-20, and the stay-at-home orders and social distancing measures put in places throughout California, Board members will participate via videoconference.