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 (PDF)

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

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

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

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.



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.