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Payment calendarCheck mailed May 27Direct deposit June 1

Board meeting - June 2021

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

Web Conference

***Public Meeting Notice***

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

June 9, 2021

Regular Meeting - 8:30 a.m. 

tem 1 - Approval of Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01

Item 2 - Approval of Minutes of the March 5, 2021, Regular Meeting – Closed Session (Gov. Code, sec. 11126)

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

Item 3a - Committee Reports -- Investment Committee (Gov. Code, sec. 11126)

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

Item 3b - Committee Reports -- Appeals Committee (Gov. Code, sec. 11126)

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

Item 4 - Setting of CEO/CIO Performance Targets/Compensation for the 2021-22 Performance Year (Gov. Code, sec. 11126(a), (b), (g)(1))

Session: Closed | Type: Action | Presenter: Chairperson


Item 5 - Annual Board Chair and Vice-Chair Elections and Committee Composition for FY 2021-22

Session: Open | Type: Action | Presenter: Chairperson

Item 05

Item 6a - Actuarial Valuations -- Valuation of the Defined Benefit Program as of June 30, 2020

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

Item 06aItem 06a PowerPoint

Item 6b - Actuarial Valuations -- Valuation of the Defined Benefit Supplement Program as of June 30, 2020

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

Item 06b

Item 6c - Actuarial Valuations -- Valuation of the Cash Balance Benefit Program as of June 30, 2020

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

Item 6c

Item 7 - Review of Lump Sum Death Benefit

Session: Open | Type: Action | Presenter: David Lamoureux / Rick Reed

Item 7

Item 8 - State and Federal Legislation

Session: Open | Type: Action | Presenter: Joycelyn Martinez-Wade

Item 8

Item 9 - Labor Market Benchmarking for Statutory Positions Under the Board’s Compensation Setting Authority

Session: Open | Type: Action | Presenter: Melissa Norcia / Luis Navas, Global Governance Advisors/ Michael Oak, McLagan

Item 9Item 09 PowerPoint

Item 10 - Long-Term Incentive Plan Proposal Review

Session: Open | Type: Action | Presenter: Melissa Norcia / Luis Navas, GGA / Stephen McCourt and Allan Emkin, Meketa / Michael Oak, McLagan

Item 10Item 10 PowerPoint

Item 11 - Pension Solution Project Update

Session: Open | Type: Informational | Presenter: Prashant Mittal / Graeme Finley, Grant Thornton LLP

Item 11

Item 12a - Input on Work Plans for Fiscal Year 2021-22 -- Regular Meeting

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

Item 12a

Item 12b - Input on Work Plans for Fiscal Year 2021-22 -- Compensation Committee

Session: Open | Type: Informational | Presenter: Melissa Norcia

Item 12b

Item 13a - 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, 2021, Regular Meeting – Open Session - Revised

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 - Adoption of Contribution Rates and Interest Rates for Fiscal Year 2021-22

Item 13e

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

Item 14 - Actuarial Valuation of the Medicare Premium Payment Program as of June 30, 2020

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

Item 14

Item 15 - Items Referred by Committee for Board Decision

Session: Open | Type: Informational | Presenter: Chairperson

Item 16 - New Business / Review of Information Requests

Session: Open | Type: Informational | Presenter: Chairperson

Item 17 - Draft Agenda for Next Meeting

Session: Open | Type: Informational | Presenter: Chairperson

Item 17

Item 18 - 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.

June 10, 2021

Investment Committee - 9:00 a.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01

Item 2 - Opportunities for Statements from the Public

Session: Open | Type: Informational | Presenter: Chairperson

Item 3 - Approval of Minutes of the March 4, 2021 and March 19, 2021, Investment Committee Meeting – Open Session

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

Item 03

Item 4 - Private Equity Investment Consultant Interview Results

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

Item 04

Item 5 - Committee Work Plan Input for FY 2021-2022

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

Item 05

Item 6 - Green Team Report

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

Item 06

Item 7 - Risk Mitigating Strategies Policy Revision – Second Reading

Session: Open | Type: Action | Presenter: Steven Tong

Item 07Item 07 PowerPoint

Item 8a - Investment Policy Revisions - Real Estate Policy Revision – First Reading

Session: Open | Type: Informational | Presenter: Mike DiRe

Item 8b - Investment Policy Revisions - Global Equity Policy Revision – Benchmark – First Reading

Item 08aItem 08a PowerPoint

Session: Open | Type: Informational | Presenter: June Kim and David Murphy

Item 08bItem 08b PowerPoint

Item 9 - Chief Investment Officer’s Report

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

Item 09Item 09 PowerPoint

Item 10 - Review of Information Requests

Session: Open | Type: Informational | Presenter: Chairperson

Item 11 - Draft Agenda for the Next Committee Meeting

Session: Open | Type: Informational | Presenter: Chairperson

Item 11

Item 12 - Approval of Minutes of the March 4, 2021 and March 19, 2021, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)

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

Item 13 - Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))

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

Item 14 - Sustainable Investment & Stewardship Strategies Strategic Engagement Opportunity Update

Session: Closed | Type: Informational | Presenter: Kirsty Jenkinson and Aeisha Mastagni

Item 15 - 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 16 - Confer with and Receive Advice from Independent Fiduciary Counsel (Gov. Code, sec. 11126(e))

Session: Closed | Type: Informational | Presenter: Tiffany R. Reeves, Reinhart Boerner Van Deuren s.c.

Item 17 - Director of Investment Services – Semi-Annual Compliance Report (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Informational | Presenter: April Wilcox and Shifat Hasan

 

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.

June 11, 2021

Board Governance Committee - 9:00 a.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01

Item 2 - Approval of the Minutes of the January 28, 2021, Board Governance Committee Meeting – Open Session

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

Item 02

Item 3 - Board Education Session

Session: Open | Type: Informational | Presenter: Amy McDuffee and Catherine Jackson, Mosaic Governance Advisors

Item 03Item 03 PowerPoint

Item 4 - Committee Work Plan Input for Fiscal Year 2021-22

Session: Open | Type: Informational | Presenter: Brian J. Bartow

Item 04

Item 5 - Review of Information Requests

Session: Open | Type: Informational | Presenter: Chairperson

Item 6 - Draft Agenda for Next Committee Meeting

Session: Open | Type: Informational | Presenter: Chairperson

Item 06

Item 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 observe but may not participate in the discussion of agenda items.

Benefits and Services Committee - 10:45 a.m. (estimate) 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01

Item 2 - Approval of Minutes of the November 6, 2020, Benefits and Services Committee Meeting – Open Session

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

Item 02

Item 3 - Impacts of Pension Solution Activities on Service Levels

Session: Open | Type: Informational | Presenter: Bill Perez

Item 03Item 03 PowerPoint

Item 4 - Committee Work Plan Input for Fiscal Year 2021-22

Session: Open | Type: Informational | Presenter: Bill Perez

Item 04

Item 5 - Review of Information Requests

Session: Open | Type: Informational | Presenter: Chairperson

Item 6 - Draft Agenda for the Next Committee Meeting

Session: Open | Type: Informational | Presenter: Chairperson

Item 06

Item 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 observe but may not participate in the discussion of agenda items.

Regular Meeting continued - 1:00 p.m. (estimate) 

Item 19 - Chief Executive Officer Retirement

Session: Open | Type: Informational | Presenter: Chairperson

Item 20 - Chief Executive Officer Report

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

Item 20

Item 21 - Chief Executive Officer Briefing on Performance and Personnel Issues (Gov. Code, sec. 11126(a), (b), (g))

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

Item 22 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))

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

 

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.

June 14, 2021

Appeals Committee Meeting - 10:00 a.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01

Item 2 - Approval of Minutes for the April 2, 2021, Appeals Committee Meeting – Open Session

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

Item 02

Item 3a - In the Matter of the Retirement Benefits of: Kenneth Isenhart

Session: Open | Type: Action | Presenter: James Lindsay / Ian Coen

Item 03a

Item 4 - Review of Committee Charter

Session: Open | Type: Action | Presenter: Reina G. Minoya

Item 04

Item 5 - Education: Appeal Issue Series – Employer Services

Session: Open | Type: Informational | Presenter: Jody Cozad / Nicole Snyder

Item 05Item 05 PowerPoint

Item 6 - Committee Work Plan Input for Fiscal Year 2021-22

Session: Open | Type: Informational | Presenter: Reina Minoya

Item 06

Item 7 - Annual Summary of Appeal Activity for Fiscal Year 2020-21

Session: Open | Type: Informational | Presenter: James Lindsay

Item 07

Item 8 - Annual Summary of Designation of Precedential Decisions for Fiscal Year 2020-21

Session: Open | Type: Informational | Presenter: James Lindsay

Item 08

Item 9 - Staff Report

Session: Open | Type: Informational | Presenter: Reina G. Minoya

Item 10 - Review of Information Requests

Session: Open | Type: Informational | Presenter: Chairperson

Item 11 - Opportunity for Statements from the Public

Session: Open | Type: Informational | Presenter: Chairperson


Item 12 - Approval of Minutes for the April 2, 2021, Appeals Committee Meeting – Closed Session (Gov. Code, sec. 11126)

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

Item 13 - Confer with Legal Counsel Regarding Pending Litigation (Gov. Code, Sec. 11126(e))

Session: Closed | Type: Informational | Presenter: Reina G. Minoya

Item 14a - Consideration of Proposed Administrative Decision: In the Matter of the Retirement Benefits of: Kenneth Isenhart (Gov. Code, sec. 11126(c)(3))

Session: Closed | Type: Action | Presenter: Chairperson


Item 15a - Announcement of Action Taken on Proposed Administrative Decision: Announcement of Action Taken on Proposed Administrative Decision:

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.