TranslateBoard meeting - March 2020
Unless otherwise specified, meetings will be held at the following location:
CalSTRS, 100 Waterfront Place, West Sacramento, CA.
First Floor Board Room
All meeting times are approximate depending upon the end of the previous meeting.
March 4, 2020
Item 1 - Approval of Committee Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 1Item 2 - Opportunities for Statements from the Public
Session: Open | Type: Informational | Presenter: Chairperson
Item 3 - Investment Insight Speaker
Session: Open | Type: Informational | Presenter: Brian Deese, Blackrock
Item 3Item 3 PowerPointItem 4 - Approval of Minutes of the January 30, 2020 Investment Committee Meeting – Open Session
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 4Item 5a - Investments Policy Revisions -- Inflation Sensitive Policy
Session: Open | Type: Action | Presenter: Paul Shantic
Item 5aItem 5b - Investments Policy Revisions -- Infrastructure Policy
Session: Open | Type: Action | Presenter: Paul Shantic
Item 5bItem 5c - Investment Policy Revisions -- Innovation Policy
Session: Open | Type: Action | Presenter: Geraldine Jimenez
Item 5cItem 6a - Global Equity Active Risk Budget -- Global Equity Policy Revision – First Reading
Session: Open | Type: Informational | Presenter: June Kim and Geraldine Jimenez
Item 6aItem 6b - Global Equity Active Risk Budget -- Reporting and Monitoring
Session: Open | Type: Informational | Presenter: June Kim and Geraldine Jimenez
Item 6bItem 7a - Open Session Semi Annual Performance Reports -- Receive General Consultant – Semi-Annual Performance Report, Period Ending December 31, 2019
Session: Open | Type: Informational | Presenter: Stephen McCourt and Mika Malone, Meketa Investment Group
Item 7aItem 7b - Open Session Semi Annual Performance Reports -- Received Real Estate – Semi-Annual Performance Report, Period Ending September 30, 2019
Session: Open | Type: Informational | Presenter: Taylor Mammen and Ben Maslan, Robert Charles Lesser & Co.
Item 7bItem 7b PowerPointItem 7c - Open Session Semi Annual Performance Reports -- Received Private Equity – Semi-Annual Performance Report, Period Ending September 30, 2019
Session: Open | Type: Informational | Presenter: John Haggerty and Steve Hartt, Meketa Investment Group
Item 7cItem 7c PowerPointItem 8 - Chief Investment Officer’s Report – Open Session
Session: Open | Type: Informational | Presenter: Christopher Ailman
Item 8Item 8 PowerPointItem 9 - Review of Information Requests
Session: Open | Type: Informational | Presenter: Chairperson
Item 10 - Draft Agenda for the Next Committee Meeting
Session: Open | Type: Informational | Presenter: Chairperson
Item 10Item 11 - Approval of Minutes of the January 30, 2020, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)
Session: Closed | Type: Consent/Action | Presenter: Chairperson
Item 12 - Confer with and Receive Advice from Fiduciary Counsel and Investment Consultants (Gov. Code, sec 11126(c)(16))
Session: Closed | Type: Informational | Presenter: Counsel and Meketa Investment Group
Item 13 - Sustainable Investment and Stewardship Strategies – Investment Strategy (Gov. Code, sec. 11126)
Session: Closed | Type: Informational | Presenter: Kirsty Jenkinson
Item 14 - Collaborative Model Strategy Update (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Informational | Presenter: Scott Chan
Item 15 - Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Informational | Presenter: Investment Staff and Consultants
Item 16 - Risk Mitigating Strategies Implementation Update (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Informational | Presenter: Steven Tong and Jeffrey Jaro
Item 17a - Closed Session Semi-Annual Performance Reports -- Received General Consultant – Semi-Annual Performance Report, Period Ending December 31, 2019 (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Informational | Presenter: Stephen McCourt and Mika Malone, Meketa Investment Group
Item 17b - Closed Session Semi-Annual Performance Reports -- Receive Real Estate – Semi-Annual Performance Report, Period Ending September 30, 2019 (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Informational | Presenter: Taylor Mammen and Ben Maslan, Robert Charles Lesser & Co.
Item 17c - Receive Private Equity – Semi-Annual Performance Report, Period Ending September 30, 2019 (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Informational | Presenter: John Haggerty and Steve Hartt, Meketa Investment Group
Item 17d - Semi-Annual Report on Investment Manager Ratings (Gov. Code, sec. 11126(e))
Session: Closed | Type: Informational | Presenter: Investment Staff
Item 18 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))
Session: Closed | Type: Informational | Presenter: Brian J. Bartow
Item 19 - Consideration of Investment Decisions (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Informational | Presenter: Chairperson
NOTE: Items designated for information are appropriate for committee action if the committee wishes to take action. Items on the agenda of board committees may be referred to the board for discussion and possible action. Agenda items may be taken out of order with the approval of the Chairperson. Board members who are not members of the committee may attend and observe, but may not participate in the discussion of agenda items.
Item 1 - Client Advisory Committee Agenda
Session: Open | Type: Informational | Presenter: Grant Boyken
Item 1 - Approval of Committee Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 1Item 2 - Approval of Minutes of the November 7, 2019 Audit and Risk Management Committee – Open Session
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 2Item 3 - Progress Report on the 2019 Independent Financial Statement Auditor’s Management Letter
Session: Open | Type: Consent/Information | Presenter: Larry Jensen
Item 3Item 4 - Internal Audit Charter Review
Session: Open | Type: Action | Presenter: Larry Jensen
Item 4Item 5 - Financial Statement Audit Plan FY 2019-20
Session: Open | Type: Informational | Presenter: Crowe LLP
Item 5Item 5 PowerPointItem 6 - 2019 Internal Audit Plan Final Progress Report
Session: Open | Type: Informational | Presenter: Cheryl Dietz / Mike Dutil
Item 6Item 7 - 2019 Enterprise Compliance Services Plan Final Progress Report and Compliance Director Update
Session: Open | Type: Informational | Presenter: Cheryl Dietz / Larry Jensen
Item 7Item 7 PowerPointItem 8 - FY 2020-21 Proposed Meeting Work Plan
Session: Open | Type: Informational | Presenter: Larry Jensen / Julie Underwood
Item 8Item 9 - Review of Information Requests
Session: Open | Type: Informational | Presenter: Chairperson
Item 10 - Draft Agenda for the Next Committee Meeting
Session: Open | Type: Informational | Presenter: Chairperson
Item 10Item 11 - Opportunity for Statements from the Public
Session: Open | Type: Informational | Presenter: Chairperson
NOTE: Items designated for information are appropriate for committee action if the committee wishes to take action. Items on the agenda of board committees may be referred to the board for discussion and possible action. Agenda items may be taken out of order with the approval of the Chairperson. Board members who are not members of the committee may attend and observe, but may not participate in the discussion of agenda items.
March 5, 2020
Item 1 - Approval of Committee Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 1Item 2 - Chief Executive Officer Briefing on Performance and Personnel Issues (Gov. Code, sec. 11126(a), (b), (g))
Session: Closed | Type: Informational | Presenter: Jack Ehnes
Item 3 - Committee Reports (Gov. Code, sec. 11126) a. Investment Committee b. Appeals Committee
Session: Closed | Type: Informational | Presenter: Chairperson
Item 4 - Report on Cybersecurity
Session: Closed | Type: Informational | Presenter: Scott Tirapelle
Item 5 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))
Session: Closed | Type: Informational | Presenter: Brian J. Bartow
Item 6 - Approval of Minutes of the January 31, 2020, Regular Meeting – Closed Session (Gov. Code, sec. 11126)
Session: Closed | Type: Informational | Presenter: Chairperson
Item 7 - Regulatory Proposal – Administrative Remedy Process for Employer Audits
Session: Open | Type: Informational | Presenter: Grant Boyken / Joycelyn Martinez-Wade / Reina Minoya
Item 7Item 8 - Chief Executive Officer Report
Session: Open | Type: Informational | Presenter: Jack Ehnes
Item 8Item 9 - Pension Solution Project Update
Session: Open | Type: Consent/Information | Presenter: Chairperson
Item 9Item 10 - State and Federal Legislation
Session: Open | Type: Consent/Information | Presenter: Chairperson
Item 10Item 11a - Committee Reports: 1) Investment Committee; 2) Appeals Committee; 3) Audits and Risk Management Committee; 4) Benefits and Services Committee; 5) Board Governance Committee; 6) Compensation Committee
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 11b - Approval of Minutes of the January 31, 2020, Regular Meeting – Open Session
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 11bItem 11c - Board Member Education
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 11cItem 11d - Contracts Requiring Board Approval
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 11dItem 12 - Items Referred by Committee for Board Decision
Session: Open | Type: Informational | Presenter: Chairperson
Item 13 - New Business / Review of Information Requests
Session: Open | Type: Informational | Presenter: Chairperson
Item 14 - Draft Agenda for Next Meeting
Session: Open | Type: Informational | Presenter: Chairperson
Item 14Item 15 - Opportunity for Statements from the Public
Session: Open | Type: Informational | Presenter: Chairperson
NOTE: Items designated for information are appropriate for board action if the board wishes to take action. Agenda items may be taken out of order with the approval of the Chairperson.
Item 1 - Approval of Committee Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 1Item 2 - Approval of Minutes of the July 12, 2019, Compensation Committee Meeting – Open Session
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 2Item 3 - Report and Recommendations on Compensation Strategy
Session: Open | Type: Informational | Presenter: Melissa Norcia / Luis Navas, Global Governance Advisors
Item 3Item 3 PowerPointItem 4 - Education Session on Civil Service
Session: Open | Type: Informational | Presenter: Melissa Norcia / Kristel Turko
Item 4Item 4 PowerPointItem 5 - Review Information Requests
Session: Open | Type: Informational | Presenter: Chairperson
Item 6 - Draft Agenda for the Next Committee Meeting
Session: Open | Type: Informational | Presenter: Chairperson
Item 6Item 7 - Opportunity for Statements from the Public
Session: Open | Type: Informational | Presenter: Chairperson
NOTE: Items designated for information are appropriate for committee action if the committee wishes to take action. Items on the agenda of board committees may be referred to the board for discussion and possible action. Agenda items may be taken out of order with the approval of the Chairperson. Board members who are not members of the committee may attend and participate in the discussion of agenda items.
Item 1 - Approval of Committee Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 1Item 2 - Approval of Minutes for the January 31, 2020, Appeals Committee Meeting – Open Session
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 2Item 3a - Consideration of Proposed Administrative Decisions -- In the Matter of the Statement of Issues Against: Victoria Richart-Povall
Session: Open | Type: Action | Presenter: James Lindsay
Item 3aItem 3b - Consideration of Proposed Administrative Decisions -- In the Matter of the Retirement Benefits of: Bruce Ritchey
Session: Open | Type: Action | Presenter: James Lindsay
Item 3bItem 4 - Review and Adoption of Committee Work Plan for Fiscal Year 2020-21
Session: Open | Type: Action | Presenter: Reina G. Minoya
Item 4Item 5 - Review of Committee Charter
Session: Open | Type: Action | Presenter: Reina G. Minoya
Item 5Item 6 - Annual Summary of Appeal Activity for Fiscal Year 2019-20
Session: Open | Type: Informational | Presenter: Ryan Dunlevy
Item 6Item 7 - Annual Summary of Designation of Precedential Decisions for Fiscal Year 2019-20
Session: Open | Type: Informational | Presenter: Ryan Dunlevy
Item 7Item 8 - Staff Report
Session: Open | Type: Informational | Presenter: Reina G. Minoya
Item 9 - Review of Information Requests
Session: Open | Type: Informational | Presenter: Chairperson
Item 10 - Opportunity for Statements from the Public
Session: Open | Type: Informational | Presenter: Chairperson
Item 11 - Approval of Minutes for the January 31, 2020, Appeals Committee Meeting – Closed Session (Gov. Code, sec. 11126)
Session: Closed | Type: Consent/Action | Presenter: Chairperson
Item 12 - Confer with Legal Counsel Regarding Pending Litigation (Gov. Code, Sec. 11126(e))
Session: Closed | Type: Informational | Presenter: Reina G. Minoya
Item 13a - Consideration of Proposed Administrative Decisions -- In the Matter of the Statement of Issues Against: Victoria Richart-Povall (Gov. Code, sec. 11126(c)(3))
Session: Closed | Type: Action | Presenter: Chairperson
Item 13b - Consideration of Proposed Administrative Decisions -- In the Matter of the Retirement Benefits of: Bruce Ritchey (Gov. Code, sec. 11126(c)(3))
Session: Closed | Type: Action | Presenter: Chairperson
Item 14 - Further Deliberation on In the Matter of the Audit Finding Re: Santa Clara COE and Joyce Farnam (Gov. Code, sec. 11126(c)(3))
Session: Closed | Type: Informational | Presenter: Chairperson
Item 15a - Announcement of Actions Taken on Proposed Administrative Decisions -- In the Matter of the Statement of Issues Against: Victoria Richart-Povall
Session: Open | Type: Action | Presenter: Chairperson
Item 15b - Announcement of Actions Taken on Proposed Administrative Decisions -- In the Matter of the Retirement Benefits of: Bruce Ritchey
Session: Open | Type: Action | Presenter: Chairperson
NOTE: Items designated for information are appropriate for committee action if the committee wishes to take action. Items on the agenda of board committees may be referred to the board for discussion and possible action. Agenda items may be taken out of order with the approval of the Chairperson. Board members who are not members of the committee may attend and observe, but may not participate in the discussion of agenda items.