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Payment calendarCheck mailed October 28Direct deposit November 1

Board meeting - January 2022

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

Web Conference

Public Call Letter

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

January 27, 2022

Investment Committee - 9:00 a.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 - Attachment 1 - January 2022 Investment Committee Agenda

Item 2 - Opportunities for Statements from the Public

Session: Open | Type: Informational | Presenter: Chairperson

Item 3 - Private Equity Policy Revision – Co-Investments – Second Reading

Session: Open | Type: Action | Presenter: Margot Wirth and Rob Ross

Item 03Item 03 - Attachment 1 – Private Equity Policy – Clean VersionItem 03 - Attachment 2 – Private Equity Policy – Redline VersionItem 03 - Attachment 3 – Overview of Private Equity Collaborative Model (1.0, 2.0, and Beyond)Item 03 - Attachment 4 – Overview of Private Equity Risk ControlsItem 03 - Attachment 5 – Enhanced Portfolio Risk Report – SampleItem 03 - Attachment 6 – Delegation of Authority SummaryItem 03 - Attachment 7 – Meketa MemoItem 3 PowerPoint

Item 4 - Investment Policy & Management Plan Revision – Asset Allocation – First Reading

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

Item 04Item 04 - Attachment 1 – Meketa Investment Group Concurrence MemoItem 04 - Attachment 2 – Investment Policy and Management Plan – Redline VersionItem 04 - Attachment 3 – Investment Policy and Management Plan – Clean Version

Item 5 - Chief Investment Officer’s Report

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

Item 05Item 05 - Attachment 1 – Investment Portfolio Risk Report as of November
30, 2021
Item 5 PowerPoint

Item 6 - Approval of Minutes of the November 4, 2021, Investment Committee Meeting – Open Session

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

Item 06

Item 7 - Net Zero Strategy - Progress and Planning Update

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

Item 07Item 07 - Attachment 1 – Net Zero Green Team OverviewItem 07 - Attachment 2 – Definition of Greenhouse Gas Emissions Scopes

Item 8 - SISS – 2022 Stewardship Priorities, 2021 Highlights

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

Item 08Item 08 - Attachment 1 – Stewardship Priorities

Item 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 10

Item 11 - Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))

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

Item 12 - 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 13 - Approval of Minutes of the November 4, 2021, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)

Session: Closed | Type: Consent/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.

Benefits & Services Committee - 1:30 p.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 1Item 1 - Attachment 1 - Benefits & Services Committee Agenda

Item 2 - Approval of Minutes of the September 2, 2021, Benefits and Services Committee Meeting – Open Session

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

Item 2

Item 3 - Triennial Health Benefits Study

Session: Open | Type: Informational | Presenter: Tom Buffalo

Item 3Item 3 - Attachment 1 - Triennial Health Benefits StudyItem 3 - PowerPoint

Item 4 - Retirement Readiness Member Education & Engagement Efforts

Session: Open | Type: Informational | Presenter: Sandy Blair

Item 4Item 4 - PowerPoint

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 6

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.

Board Governance Committee - 2:40 p.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 1Item 1  - Attachment 1 - Board Governance Committee Agenda

Item 2 - Approval of the Minutes of the November 5, 2021, Board Governance Committee Meeting – Open Session

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

Item 2

Item 3 - Review of Board and Committee Meeting Format and Meeting Materials – Remote Meeting Environment and Policy Discussion

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

Item 3Item 3 - PowerPoint

Item 4 - Review of Information Requests

Session: Open | Type: Informational | Presenter: Chairperson

Item 5 - Draft Agenda for Next Committee Meeting

Session: Open | Type: Informational | Presenter: Chairperson

Item 5

Item 6 - 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.

January 28, 2022

Regular Meeting - 9:00 a.m. 

Item 1 - Approval of Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 - Attachment 1 – Regular Meeting Agenda

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

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

Item 3 - Committee Reports (Gov. Code, Sec. 11126) a. Investment Committee b. Appeals Committee

Session: Closed | Type: Consent/Information | Presenter: Committee Reports (Gov. Code, Sec. 11126)

Item 4 - Consultant Evaluation: Grant Thornton (Gov. Code, sec. 11126(a))

Session: Closed | Type: Informational | Presenter: Harry Keiley / Amy McDuffee, Mosaic Governance Advisors

Item 5 - Chief Executive Officer Briefing on Performance and Personnel Issues (Gov. Code, sec. 11126(a), (b), (g))

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

Item 6 - 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 7 - Chief Executive Officer Report

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

Item 07

Item 8 - HQE Budget Approval

Session: Open | Type: Action | Presenter: Lisa Blatnick / Julie Underwood

Item 08Item 08 - Attachment 1 - HQE Budget HistoryItem 08 - Attachment 2 - Analytical AssumptionsItem 08 - PowerPoint

Item 9 - Review of Board Valuation Policy for the Defined Benefit Program

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

Item 09Item 09 - Attachment 1 – Proposed Revisions to Section 7F of the Board Governance ManualItem 09 - PowerPoint

Item 10 - Report and Recommendations for Long-Term Incentive Plan

Session: Open | Type: Action | Presenter: Melissa Norcia / Peter Landers, Global Governance Advisors

Item 10Item 10 - PowerPoint

Item 11 - Revisions to the 2021-22 and 2022-23 Board Meeting Calendar

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

Item 11Item 11 - Attachment 1 – Proposed Fiscal Year 2021-2022Item 11 - Attachment 2 – Proposed Fiscal Year 2022-2023

Item 12 - Draft CalSTRS Strategic Plan 2022-25

Session: Open | Type: Informational | Presenter: Amy McDuffee, Mosaic Governance Advisors / Cassandra Lichnock

Item 12Item 12 - Attachment 1 – Draft CalSTRS 2022–25 Strategic Plan

Item 13 - Benchmarking Review Project

Session: Open | Type: Informational | Presenter: Melissa Norcia/Stephen McCourt and Allan Emkin, Meketa Investment Group

Item 13Item 13 - Attachment 1 – Benchmark OverviewItem 13 - PowerPoint

Item 14 - State and Federal Legislation

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

Item 14Item 14 - Attachment 1 – Potential Legislation

Item 15a - Committee Reports 1) Investment Committee 2) Appeals Committee 3) Audits and Risk Management Committee 4) Benefits and Services Committee 5) Board Governance Committee

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

Item 15b - Approval of Minutes of the November 5, 2021, Regular Meeting – Open Session

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

Item 15b

Item 15c - Board Member Education - Revised

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

Item 15c

Item 15d - Contracts Requiring Board Approval - Revised

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

Item 15d

Item 16 - Items Referred by Committee for Board Decision

Session: Open | Type: Informational | Presenter: Chairperson

Item 17 - New Business / Review of Information Requests

Session: Open | Type: Informational | Presenter: Chairperson

Item 18 - Draft Agenda for Next Meeting

Session: Open | Type: Informational | Presenter: Chairperson

Item 18

Item 19 - 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.