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Payment calendarCheck mailed May 27Direct deposit June 1

Board meeting - March 2022

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

Web Conference

Public Call Letter - REVISED

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

March 3, 2022

Investment Committee - 9:00 a.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

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

Item 2 - Opportunities for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson

Item 3a - Open Session Semi Annual Performance Reports - Receive General Consultant – Semi-Annual Performance Report, Period Ending December 31, 2021

Session: Open | Type: Information | Presenter: Stephen McCourt and Mika Malone/ Meketa Investment Group

Item 03aItem 03a - Attachment 1 – Investment Performance At-A-Glance, Period Ending December 31, 2021Item 03a - Attachment 2 – Summary of the Semi-Annual Performance Report, Period Ending December 31, 2021

Item 3b - Open Session Semi Annual Performance Reports - Receive Real Estate – Semi-Annual Performance Report, Period Ending September 30, 2021

Session: Open | Type: Information | Presenter: Taylor Mammen and Ben Maslan/ Robert Charles Lesser & Co.

Item 03bItem 03b - Attachment 1 – RFA’s Q3 2021 Semi-Annual Performance Summary for the Real Estate ProgramItem 03b - PowerPoint

Item 3c - Open Session Semi Annual Performance Reports - Receive Private Equity – Semi-Annual Performance Report, Period Ending September 30, 2021

Session: Open | Type: Information | Presenter: John Haggerty and Steve Hartt/ Meketa Investment Group

Item 03cItem 03c - Attachment 1 – Meketa Investment Group’s Q3 2021 Semi- Annual Performance Summary for the Private Equity Program

Item 4 - Chief Investment Officer’s Report – Open Session

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

Item 04Item 04 - Attachment 1 – Investment Portfolio Risk Report as of December 31, 2021Item 04 - PowerPoint

Item 5 - Collaborative Model Pillars Update

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

Item 05Item 05 - Attachment 1 - Q2 Pillars Project Review and Stoplight Chart 

Item 6 - Investment Services – Collaborative Model 2.0

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

Item 06Item 06 - Attachment 1 - Collaborative Model ImpactsItem 06 - Attachment 2 - New Investment Strategy Process

Item 7 - Approval of Minutes of the January 27, 2022, Investment Committee Meeting – Open Session

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

Item 07

Item 8 - Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 9 - Draft Agenda for the Next Committee Meeting

Session: Open | Type: Information | Presenter: Chairperson

Item 09

Item 10a - Closed Session Semi – Annual Performance Reports - Receive General Consultant – Semi-Annual Performance Report, Period Ending December 31, 2021 (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Information | Presenter: Stephen McCourt and Mika Malone/ Meketa Investment Group

Item 10b - Closed Session Semi – Annual Performance Reports - Receive Real Estate – Semi-Annual Performance Report, Period Ending September 30, 2021 (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Information | Presenter: Taylor Mammen and Ben Maslan/ Robert Charles Lesser & Co. (RCLCO)

Item 10c - Closed Session Semi – Annual Performance Reports - Receive Private Equity – Semi-Annual Performance Report, Period Ending September 30, 2021 (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Information | Presenter: John Haggerty and Steve Hartt/ Meketa Investment Group

Item 10d - Closed Session Semi – Annual Performance Reports - Semi-Annual Report on Investment Manager Ratings (Gov. Code, sec. 11126(e))

Session: Closed | Type: Information | Presenter: Investment Staff

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

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

Item 12 - Risk Mitigating Strategies Implementation Update (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Information | Presenter: Steven Tong and Jeffrey Jaro

Item 13 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))

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

Item 14 - Approval of Minutes of the January 27, 2022, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)

Session: Closed | Type: Action Consent | 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.

Audits & Risk Management Committee - 2:00 p.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 - Attachment 1 - Audits and Risk Management Committee Agenda 

Item 2 - Approval of Minutes of the November 4, 2021, Audits and Risk Management Committee – Open Session

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

Item 02

Item 3 - 2021 Management Letter Progress Report

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

Item 03Item 03 - Attachment 1 – 2021 Independent Financial Statement Auditor’s Management Letter Progress Report as of December 2021

Item 4 - Financial Statement Audit Client Service Plan for FY 2021-22

Session: Open | Type: Information | Presenter: Kevin Smith, Jen Aras – Crowe LLP

Item 04Item 04 - PowerPoint

Item 5 - 2021 Enterprise Compliance Services Plan Final Progress Report

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

Item 05Item 05 - Attachment 1 - 2021 Enterprise Compliance Services Plan ResultsItem 05 - Attachment 2 - CalSTRS Compliance Program Alignment with Federal Sentencing GuidelinesItem 05 - PowerPoint

Item 6 - 2021 Internal Audit Plan Final Progress Report

Session: Open | Type: Information | Presenter: Larry Jensen & Roseanne Oyoung

Item 06Item 06 - Attachment 1 – Employer Audit Year End ResultsItem 06 - Attachment 2 – Internal Audit Year End ResultsItem 06 - PowerPoint

Item 7 - Fiscal Year 2022-23 Meeting Work Plan

Session: Open | Type: Information | Presenter: Larry Jensen

Item 07Item 07 - Attachment 1 – Audits and Risk Management Committee Proposed FY 2022-23 Meeting Work Plan

Item 8 - Committee Education: Overview of New Audit Standards and Report Requirements

Session: Open | Type: Information | Presenter: Kevin Smith, Jen Aras – Crowe LLP

Item 08Item 08 - PowerPoint

Item 9 - Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 10 - Draft Agenda for Next Meeting

Session: Open | Type: Information | Presenter: Chairperson

Item 10

Item 11 - Opportunity for Statements from the Public

Session: Open | Type: Information | 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 4, 2022

Regular Meeting - 9:00 a,m, 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 - Attachment 1 – Regular Meeting Agenda

Item 2 - Chief Executive Officer Report

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

Item 02

Item 3 - State and Federal Legislation

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

Item 03 - RevisedItem 03 - Attachment 1 – SB 868 (Cortese)Item 03 - Attachment 3 – SB 1173 (Gonzalez) - NewItem 03 - Attachment 2 – Milliman Analysis of Potential SBMA Plan ChangesItem 03 - Attachment 4 – Legislative Matrix

Item 4 - CalSTRS Strategic Plan 2022-25

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

Item 04Item 04 - Attachment 1 – Draft CalSTRS 2022–25 Strategic Plan

Item 5 - Report and Recommendations for Long-Term Incentive Plan

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

Item 05Item 05 - PowerPoint

Item 6 - Enterprise Risk Management Report

Session: Open | Type: Information | Presenter: Julie Underwood

Item 06Item 06 - Attachment 1 – ERM Heat MapItem 06 - Attachment 2 – Risk Score ReportItem 06 - PowerPoint

Item 7a - 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 7b - Approval of Minutes of the January 28, 2022, Regular Meeting – Open Session

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

Item 07b - Revised

Item 7c - Board Member Education

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

Item 07c - Revised

Item 7d - Contracts Requiring Board Approval

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

Item 07d

Item 8 - Items Referred by Committee for Board Decision

Session: Open | Type: Information | Presenter: Chairperson

Item 9 - New Business / Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 10 - Draft Agenda for Next Meeting

Session: Open | Type: Information | Presenter: Chairperson

Item 10

Item 11 - Opportunity for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson


Item 12 - Approval of Minutes of the January 28, 2022, Regular Meeting – Closed Session (Gov. Code, sec. 11126)

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

Item 13 - Committee Reports (Gov. Code, Sec. 11126) a) Investment Committee b) Appeals Committee

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

Item 14 - Report on Cybersecurity (Gov. Code, sec. 11126 (c)(18)(A))

Session: Closed | Type: Information | Presenter: Scott Tirapelle

Item 15 - Chief Executive Officer Briefing on Performance and Personnel Issues (Gov. Code, sec. 11126(a), (b), (g))

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

Item 16 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))

Session: Closed | Type: Information | 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.

March 7, 2022

Appeals Committee - 1:30 p.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 - Attachment 1 - Appeals Committee Agenda

Item 2 - Approval of Minutes for the August 31, 2021, Appeals Committee Meeting – Open Session

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

Item 02

Item 3 - Retirement Readiness: Service Delivery and Member Education of Appeals-Related Issues

Session: Open | Type: Information | Presenter: Kaitlin DuBray and Lan Le

Item 03Item 03 = PowerPoint

Item 4 - Education: Overview of Precedential Decisions and Designation Process

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

Item 04Item 04 - PowerPoint

Item 5 - Staff Report

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

Item 6 - Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 7 - Opportunity for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson


Item 8 - Approval of Minutes for the August 31, 2021, Appeals Committee Meeting – Closed Session (Gov. Code, sec. 11126)

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

Item 9 - Confer with Legal Counsel Regarding Pending Litigation (Gov. Code, Sec. 11126(e))

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

 

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.