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Payment calendarCheck mailed May 27Direct deposit June 1

Board meeting - July 2020

Unless otherwise specified, meetings will be held at the following location:

Web Conference

***Public Meeting Notice***

(Physical Location availability only for Hearing: CalSTRS Boardroom, 100 Waterfront Place, West Sacramento, CA 95605)

All meeting times are approximate depending upon the end of the previous meeting.

July 15, 2020

Investment Committee - 8:30 a.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 1

Item 2 - Opportunities for Statements from the Public

Session: Open | Type: Informational | Presenter: Chairperson

Item 3 - Approval of Minutes of the March 4, 2020, Investment Committee Meeting – Open Session

Session: Open | Type: Consent/Action | Presenter: Chairperson

item 3

Item 4 - Approval of Minutes of the May 7, 2020, Investment Committee Meeting – Open Session

Session: Open | Type: Consent/Action | Presenter: Chairperson

Item 4

Item 5 - Committee Charter - Revision - REVISED

Session: Open | Type: Consent/Action | Presenter: Chairperson

Item 5

Item 6 - Private Equity Consultant Contract Extension

Session: Open | Type: Consent/Action | Presenter: Chairperson

Item 6

Item 7 - Decommission Commodities Policy

Session: Open | Type: Consent/Action | Presenter: Chairperson

Item 7

Item 8 - Annual Review of Delegation to Staff

Session: Open | Type: Consent/Information | Presenter: Chairperson

Item 8

Item 9 - Report Pursuant to Assembly Bill 2833

Session: Open | Type: Consent/Information | Presenter: Chairperson

Item 9

Item 10 - Fiscal Year 2020-21 Investment Business Plans

Session: Open | Type: Action | Presenter: Christopher Ailman

Item 10

a. 10-Year Financial Plan

b. Global Equity

c. Fixed Income

d. Real Estate

e. Private Equity

f. Sustainable Investment & Stewardship Strategies

g. Inflation Sensitive

h. Investment Strategies & Risk

i. Risk Mitigation Strategies

j. Operations

k. Investment Performance & Compliance

Item 11a - Investment Policy Revision: SISS Investment Policy Revision – Benchmarks

Session: Open | Type: Action | Presenter: Geraldine Jimenez

Item 11aItem 11a PowerPoint

Item 11b - Investment Policy Revision: Investment Policy and Management Plan – Asset Targets

Item 11b

Session: Open | Type: Action | Presenter: Kirsty Jenkinson and Aeisha Mastagni

Item 12 - Investment Insight Speaker – Bloomberg New Energy Finance

Session: Open | Type: Informational | Presenter: Ethan Zindler

Item 12Item 12 PowerPoint

Item 13 - Chief Investment Officer’s Report – Open Session

Session: Open | Type: Informational | Presenter: Christopher Ailman

Item 13Item 13 PowerPoint

Item 14 - Collaborative Model – Pillar Status Report

Session: Open | Type: Informational | Presenter: Scott Chan and Lisa Blatnick

Item 14

Item 15 - Review of Information Requests

Session: Open | Type: Informational | Presenter: Chairperson

Item 16 - Draft Agenda for the Next Committee Meeting

Session: Open | Type: Informational | Presenter: Chairperson

Item 16

Item 17 - Approval of Minutes of the March 4, 2020, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)

Session: Closed | Type: Consent/Action | Presenter: Chairperson

Item 18 - Approval of Minutes of the May 7, 2020, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)

Session: Closed | Type: Consent/Action | Presenter: Chairperson

Item 19 - Chief Investment Officer’s Report – Closed Session – Annual Personnel Report

Session: Closed | Type: Consent/Information | Presenter: Chairperson

Item 20 - 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

Item 21 - Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Informational | Presenter: Investment Staff and Consultants

Item 22 - Risk Mitigating Strategies Implementation Update (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Informational | Presenter: Steven Tong and Carrie Lo

Item 23 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))

Session: Closed | Type: Informational | Presenter: Brain J. Bartow

Item 24 - 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.

July 16, 2020

Regular Meeting - 8:30 a.m. 

At 1:00 p.m., the board will recess to conduct a PUBLIC HEARING on Public Comment Regulations. Once the Hearing has concluded, the Regular Meeting of the Teachers’ Retirement Board will resume.
(Physical Location availability only for Hearing: CalSTRS Boardroom, 100 Waterfront Place,
West Sacramento, CA 95605)

 

Item 1 - Approval of Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 1

Item 2 - Evaluation of CEO/CIO Base Salary Adjustments (Gov. Code, sec. 11126(a), (b), (g)(1))

Session: Closed | Type: Action | Presenter: Chairperson

Item 3 - 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 4 - Chief Executive Officer Briefing on Performance and Personnel Issues (Gov. Code, sec. 11126(a), (b), (g))

Session: Closed | Type: Informational | Presenter: Jack Ehnes

Item 5 - Approval of Minutes of the March 5, 2020 and May 7, 2020, Regular Meeting – Closed Session (Gov. Code, sec. 11126)

Session: Closed | Type: Consent/Action | Presenter: Chairperson

Item 6 - Proposed Fiscal Year 2020-21 Board/Committee Meeting Work Plans - REVISED

Session: Open | Type: Action | Presenter: Chairperson

Item 6

Item 7a - Actuarial Valuations: Valuation of the Defined Benefit Supplement Program as of June 30, 2019

Session: Open | Type: Action | Presenter: Rick Reed / David Lamoureux / Nick Collier and Mark Olleman, Milliman

Item 7a

Item 7b - Actuarial Valuations: Valuation of the Cash Balance Benefit Program as of June 30, 2019

Session: Open | Type: Action | Presenter: Rick Reed / David Lamoureux / Nick Collier and Mark Olleman, Milliman

Item 7b

Item 8 - Chief Executive Officer Report

Session: Open | Type: Informational | Presenter: Jack Ehnes

Item 8

Item 9 - CalSTRS Annual Business Plan for 2020-21

Session: Open | Type: Informational | Presenter: Cassandra Lichnock

Item 9

Item 10 - Pension Solution Project Update

Session: Open | Type: Informational | Presenter: Prashant Mittal

Item 10

Item 11 - State and Federal Legislation

Session: Open | Type: Consent/Information | Presenter: Chairperson

Item 11

Item 12 - Actuarial Valuation of the Medicare Premium Payment Program as of June 30, 2019

Session: Open | Type: Consent/Information | Presenter: Chairperson

Item 12

Item 13a - a. * 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 13b - Approval of Minutes of the March 5, 2020 and May 7, 2020, Regular Meeting – Open Session

Session: Open | Type: Consent/Action | Presenter: Chairperson

Item 13b

Item 13c - Board Member Education - Revised

Session: Open | Type: Consent/Action | Presenter: Chairperson

Item 13c

Item 13d - Contracts Requiring Board Approval

Session: Open | Type: Consent/Action | Presenter: Chairperson

Item 13d

Item 13e - Review CEO Delegation

Session: Open | Type: Consent/Action | Presenter: Chairperson

Item 13e

Item 13f - Review of Board Officer and Committee Delegation

Session: Open | Type: Consent/Action | Presenter: Chairperson

Item 13f

Item 13g - Revised Operating Budget for 2020-21

Session: Open | Type: Consent/Action | Presenter: Chairperson

Item 13g

Item 13h - Employer Contribution Rate for Elected Officials and the Reduced Workload Program for Fiscal Year 2020-21

Session: Open | Type: Consent/Action | Presenter: Chairperson

Item 13h

Item 14 - Items Referred by Committee for Board Decision

Session: Open | Type: Informational | Presenter: Chairperson

Item 15 - New Business / Review of Information Requests

Session: Open | Type: Informational | Presenter: Chairperson

Item 16 - Draft Agenda for Next Meeting

Session: Open | Type: Informational | Presenter: Chairperson

Item 16

Item 17 - 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.

July 17, 2020

Audits & Risk Management Committee - 9:00 a.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 2 - Approval of Minutes of the March 4, 2020 Audit and Risk Management Committee – Open Session

Session: Open | Type: Consent/Action | Presenter: Chairperson

Item 3 - Progress Report on the 2019 Management Letter

Session: Open | Type: Consent/Information | Presenter: Chairperson

Item 4 - 2020 Internal Audit Plan Progress Report and Mid-Year Update - REVISED

Session: Open | Type: Action | Presenter: Larry Jensen, Mike Dutil & Roseanne Oyoung

Item 5 - 2020 Enterprise Compliance Services Plan Progress Report and Compliance Director Update

Session: Open | Type: Informational | Presenter: Cheryl Dietz

Item 6 - Review of Information Requests

Session: Open | Type: Informational | Presenter: Chairperson

Item 7 - Draft Agenda for the Next Committee Meeting

Session: Open | Type: Informational | Presenter: Chairperson

Item 8 - 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.