CalPERS has had a Responsible Contractor Policy since the 1990s. With this policy, we support 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, which applies to contracts over $100,000 for real estate or infrastructure investments in which we own more than 50 percent.

The current RCP Policy was created by our staff, fiduciary attorneys, investment managers, and labor stakeholders. Key points of the policy:

  • Defines key terms (RCP contract and investment, responsible contractor, fiduciary duty requirement)
  • Establishes manager responsibility for:
    • Communicating the policy to all contractors
    • Maintaining written policies and procedures on the policy
    • Monitoring and enforcing compliance of the policy
  • Requires us, our 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 certify compliance with the RCP and submit a report which includes the number and dollar amount of RCP contracts issued
  • Requires managers to establish competitive bidding procedures and notify potential bidders of the policy
  • Details fiduciary duties; competitive bidding; abidance by local, state and national laws; and other principal requirements
  • Details roles and responsibilities of investment managers, CalPERS staff, and labor stakeholders
  • Details transition, enforcement, monitoring, and administration requirements
  • States we strongly prefer 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