TranslateBoard 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
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 - Approval of Minutes of the March 4, 2020, Investment Committee Meeting – Open Session
Session: Open | Type: Consent/Action | Presenter: Chairperson
item 3Item 4 - Approval of Minutes of the May 7, 2020, Investment Committee Meeting – Open Session
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 4Item 5 - Committee Charter - Revision - REVISED
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 5Item 6 - Private Equity Consultant Contract Extension
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 6Item 7 - Decommission Commodities Policy
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 7Item 8 - Annual Review of Delegation to Staff
Session: Open | Type: Consent/Information | Presenter: Chairperson
Item 8Item 9 - Report Pursuant to Assembly Bill 2833
Session: Open | Type: Consent/Information | Presenter: Chairperson
Item 9Item 10 - Fiscal Year 2020-21 Investment Business Plans
Session: Open | Type: Action | Presenter: Christopher Ailman
Item 10a. 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 PowerPointItem 11b - Investment Policy Revision: Investment Policy and Management Plan – Asset Targets
Item 11bSession: 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 PowerPointItem 13 - Chief Investment Officer’s Report – Open Session
Session: Open | Type: Informational | Presenter: Christopher Ailman
Item 13Item 13 PowerPointItem 14 - Collaborative Model – Pillar Status Report
Session: Open | Type: Informational | Presenter: Scott Chan and Lisa Blatnick
Item 14Item 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 16Item 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
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 1Item 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 6Item 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 7aItem 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 7bItem 8 - Chief Executive Officer Report
Session: Open | Type: Informational | Presenter: Jack Ehnes
Item 8Item 9 - CalSTRS Annual Business Plan for 2020-21
Session: Open | Type: Informational | Presenter: Cassandra Lichnock
Item 9Item 10 - Pension Solution Project Update
Session: Open | Type: Informational | Presenter: Prashant Mittal
Item 10Item 11 - State and Federal Legislation
Session: Open | Type: Consent/Information | Presenter: Chairperson
Item 11Item 12 - Actuarial Valuation of the Medicare Premium Payment Program as of June 30, 2019
Session: Open | Type: Consent/Information | Presenter: Chairperson
Item 12Item 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 13bItem 13c - Board Member Education - Revised
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 13cItem 13d - Contracts Requiring Board Approval
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 13dItem 13e - Review CEO Delegation
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 13eItem 13f - Review of Board Officer and Committee Delegation
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 13fItem 13g - Revised Operating Budget for 2020-21
Session: Open | Type: Consent/Action | Presenter: Chairperson
Item 13gItem 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 13hItem 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 16Item 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
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.