December 8, 2022

Communications & Stakeholder Relations
Contact: Colin Steiner, Information Officer
(916) 795-3991 -

The winner was elected by retired members

SACRAMENTO, Calif. – Yvonne Walker is the unofficial winner of the runoff election for the retired member seat on the CalPERS Board of Administration.

Election results are considered unofficial until formal certification by the California Secretary of State, which is expected to occur in January.

The unofficial results indicate Yvonne Walker received 64,553 votes, which represents 56.90% of the votes cast during the voting period of November 4 through December 5, 2022. The opponent, Randall Cheek, received 48,900 votes, or 43.10%. Over 660,000 retired members were eligible to vote in this election.

Ms. Walker is a legal secretary retired from the Department of Justice.

This board seat was elected by retired members and was previously occupied by Henry Jones, who resigned in January 2022. Ms. Walker’s term begins immediately upon certification and expires on January 15, 2028.

The 13-member CalPERS Board sets policy for retirement and health benefits on behalf of California public employers and their active and retired employees. The board also oversees asset allocation of the pension fund's investments. Under the California Constitution, the CalPERS Board has exclusive authority to administer the CalPERS Fund.

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 2 million members in the CalPERS retirement system and administers benefits for more than 1.5 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. CalPERS' total fund market value currently stands at approximately $448 billion. For more information, visit