August 16, 2019

Communications & Stakeholder Relations
Contact: Stephanie Buck, Information Officer
(916) 795-3991 -

SACRAMENTO, Calif. – CalPERS today announced the appointment of Donald B. Moulds, Ph.D., as the chief health director of its Health Benefits Program. Moulds has more than 20 years of strategic leadership in government and the health policy field at both the state and federal level.

He joins CalPERS from The Commonwealth Fund, a national foundation and think tank dedicated to improving the American healthcare system, where he served as executive vice president for programs. He also previously served as acting assistant secretary for planning and evaluation where he served as principal policy advisor to the secretary of the U.S. Department of Health and Human Services (HHS) during the Obama administration.

"At this crucial juncture in healthcare, Dr. Moulds will help deliver innovative strategies to address cost, access, and quality," said CalPERS CEO Marcie Frost. "His leadership on historic healthcare initiatives and his firm grasp of evidence-based research and bipartisan solutions are unquestionable assets for the 1.5 million members of our health program."

Moulds returns to California after a decade in Washington, D.C., and New York. Most recently he oversaw grant-making and internal research dedicated to improving the U.S. healthcare system at The Commonwealth Fund. His work at HHS between 2009 and 2014 included the development and implementation of areas of the Affordable Care Act. He also led the National Strategy on Alzheimer's Disease on behalf of the secretary and the president, and represented the U.S. government on this issue at the Group of 8.

"It's an honor to join CalPERS and be part of a program where innovation and the search for real solutions to controlling costs can make such a difference," Moulds said. "My goal is to build on the great work that's been done and make sure CalPERS' voice is part of the national healthcare debate."

While working in California, Moulds was the principal consultant for the leader of the state Senate on health insurance from 1998 to 2004. He was director of the bipartisan research branch of the California Senate for three years beginning in 2004 and led health policy and regulatory work as vice president of the California Medical Association from 2007 to 2009.

In his role as chief health director at CalPERS, Moulds will lead the largest public purchaser of health benefits in California, and the second largest nationwide after the federal government. The CalPERS health program administers health benefits and negotiates health rates for 1.5 million current and former public employees and their families, and contracts with nearly 1,200 public agency employers.

Moulds holds a Ph.D. and an M.A. in philosophy from the University of Illinois, plus a B.A. in philosophy from Bates College. He was also a visiting scholar at Harvard University.

Moulds will join CalPERS on August 19. He replaces Liana Bailey-Crimmins, who will take the chief information security officer role in CalPERS' Information Security Office.

About CalPERS

For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.9 million members in the CalPERS retirement system and the Public Employee Retirement Fund market value currently stands at approximately $374 billion, making us the largest defined-benefit public pension in the U.S. Additionally, we administer benefits for more than 1.5 million members and their families in our health program. For more information, visit