Board of Administration Educational Day Agenda January 18, 2022

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.)

All times are approximate and for reference only. The Board of Administration may consider an item at an earlier or later time than set forth herein. The Board may take action on any items that are designated for information. Public comment may be taken on agenda items in accordance with applicable law. Public comment will not be taken on agenda items relating to the administrative adjudication of individual cases. There is a three-minute limitation on 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 California Government Code section 11133 (added by Stats. 2021, ch.165, § 2), Board members will participate via videoconference.

Videoconference – see https://www.calpers.ca.gov/page/about/board/board-meetings

January 18, 2022
Agenda

9:00 a.m. - Open Session

1. Call to Order and Roll Call

9:00 a.m. - Closed Session
Upon Adjournment or Recess of Open Session(Government Code Sections 11126(a)(1), (e), and (g)(1))

1. Chief Executive Officer's Briefing on Performance, Employment, and Personnel Issues

9:30 a.m. - Welcome/Opening

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

9:45 a.m. - Pledge of Allegiance

9:50 a.m. - Swearing-In Ceremony for New Board Members

9:55 a.m. - Election of President/Vice President

10:00 a.m. - Action Item – Proposed Decisions of Administrative Law Judges (PDF)

1. 1. Dwight A. Evans (Melinda J. Evans (dec.)) (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
2. 2. Janine G. Tarkow (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
3. 3. Dayne R. Mueller (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
4. 4. Dwain D. Moore (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
5. 5. Kim L. Carter (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
6. 6. Alan J. Soares (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
7. 7. Juanita Nunez (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
8. 8. Andres E. Florez (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
9. 9. Larry J. Kosmont (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
10. 10. Rosanne Valek (PDF)
    1. Attachment A (PDF)
    2. Attachment B (PDF)
    3. Attachment C (PDF)
11. 11. Pat Yarbrough (Kim A. Yarbrough (dec.) (PDF)
    1. Attachment A (PDF)
    2. Attachment B (PDF)
    3. Attachment C (PDF)
12. 12. Brian A. Dalhover (PDF)
    1. Attachment A (PDF)
    2. Attachment B (PDF)
    3. Attachment C (PDF)
13. 13. Eric C. Lund (PDF)
    1. Attachment A (PDF)
    2. Attachment B (PDF)
    3. Attachment C (PDF)

10:05 a.m. - Action Item – Petitions for Reconsideration (PDF)

1. 1. Britt Wilson (PDF)
   1. Attachment A (PDF)
   2. Attachment B (PDF)
   3. Attachment C (PDF)
   4. Attachment D (PDF)
   5. Attachment E (PDF)

10:10 a.m. - Strategic Alignment Across California's Three Large State Purchasers: What are the Opportunities (PDF)

1. Don Moulds, Chief Health Director, CalPERS
   Julia Logan, Chief Medical Officer, CalPERS
   Peter Lee, Executive Director, Covered California (PDF)
   Michelle Baass, Director, CA Department of Health Care Services (PDF)

1. PowerPoint Presentation
   Strategic Alignment Across California's Three Large State Purchasers: What are the Opportunities (PDF)
   Lessons from Covered California to Address Affordability, Choice and Quality (PDF)
   CalPERS Board Education Day (PDF)

11:40 a.m. - Break

11:50 a.m. - Case Study on Leverage and Liquidity (PDF)

1. Dan Bienvenue, Interim Chief Investment Officer, CalPERS
   Sterling Gunn, Managing Investment Director, CalPERS
   Ed Cass, Chief Investment Officer, CPPIB (PDF)

12:50 p.m. - Lunch Break

1:30 p.m. - Annual Board Fiduciary Training (PDF)

1. Matthew Jacobs, General Counsel, CalPERS
   Christine Richardson, Pillsbury Winthrop Shaw Pittman LLP (PDF)
   Marcus Wu, Pillsbury Winthrop Shaw Pittman LLP (PDF)

1. PowerPoint Presentation
   Board of Administration Fiduciary Training (PDF)
   

3:00 p.m. - Break

3:10 p.m. - Sustainable Investment and the Path to Net Zero (PDF)

1. Anne Simpson, Managing Investment Director, CalPERS
   Travis Antoniono, Investment Manager, CalPERS
   Nelson Da Conceicao, Investment Manager, CalPERS
   Julia Jaskolska, Associate Investment Manager, Private Equity, CalPERS

1. PowerPoint Presentation
   Sustainable Investment and the Path to Net Zero (PDF)
   

4:45 p.m. - Closed Session
Upon Adjournment or Recess of Open Session (Government Code Sections 11126(a)(1), (e), and (g)(1))

1. Call to Order and Roll Call
2. Litigation Matters – Matthew Jacobs
   1. Wedding, et al. v. CalPERS, et al. (Los Angeles County Superior Court, Case No. BC517444)
   2. General Counsel's Update on Pending Litigation

5:15 p.m. - ADJOURN