CalPERS endorses small business development, market competition, and control of operating costs. The Investment Policy for Responsible Contractor Program (RCP) (PDF) exists to ensure prudent and careful action while managing the RCP. This policy applies to real estate or infrastructure investments in which CalPERS owns interest greater than 50 percent on contracts over $100,000.

The current RCP Policy was created by CalPERS staff, fiduciary attorneys, investment managers, and labor stakeholders. It contains the following items:

  • Defines an RCP contract and investment, responsible contractor, and other terms
  • Establishes that managers are responsible for communicating the policy to all contractors, maintaining written policies and procedures on the policy, and monitoring and enforcing compliance of the policy
  • Requires CalPERS, its investment managers, and their contractors to remain neutral when union organizing activities of service personnel occur in the Core Real Estate Portfolio
  • Requires managers to annually provide to CalPERS certification they are in compliance with the RCP and an RCP report, which includes the number and dollar amount of RCP contracts
  • Requires managers to establish competitive bidding procedures and notify potential bidders of the policy
  • Sets fiduciary duties; competitive bidding; abidance by local, state and national laws; and other principal requirements
  • Sets roles and responsibilities of investment managers, CalPERS staff, and labor stakeholders
  • Sets transition enforcement, monitoring, and administration requirements
  • States that CalPERS strongly prefers managers and contractors to hire responsible contractors to provide services to RCP investments

Contact Us

If you have questions related to the policy, email the RCP staff.

For information on who to contact for RCP bidding opportunities, view the Bidding Notification Method & Contact Sheet (PDF).

Reports & Updates