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Payment calendarCheck mailed August 30Direct deposit September 1

Board meeting - July 2022

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

CalSTRS Board Room, 100 Waterfront Place, West Sacramento, CA 95605

Public Call Letter

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

July 7, 2022

Investment Committee - 9:00 a.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 Attachment 01 - Committee Agenda

Item 2 - Opportunities for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson

Item 3 - Investment Policy and Management Plan Revision - Asset Allocation- First Reading

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

Item 03Item 03 Attachment 01 - Meketa Investment Group Concurrence MemoItem 03 Attachment 02 - Investment Policy and Management Plan - Redline VersionItem 03 Attachment 03 - Investment Policy and Managemnt Plan Clean Version

Item 4 - Chief Investment Officer’s Report

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

Item 04Item 04 Attachment 01 - Investment Portfolio Risk ReportItem 04 PowerPoint

Item 5 - Fiscal Year 2022-23 Investment Business Plans

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

Item 05Item 05 Attachment 01 - FY 2022-23 Investment Business PlansItem 05 PowerPoint

Item 6 - Inflation Sensitive Asset Class Policies - First Reading

Session: Open | Type: Information | Presenter: Paul Shantic and Charles Fitzpatrick

Item 06aItem 06a Attachment 01 - Meketa Concurrence MemoItem 06a Attachment 02 - Inflation Sensitive Investment Policy - Redline VersionItem 06a Attachment 03 - Inflation Sensitive Investment Policy - Clean VersionItem 06bItem 06b Attachment 01 - Meketa Concurrence Memo - Infrastructure Investment Policy RevisionsItem 06b Attachment 02 - Infrastructure Investment Policy - Redline VersionItem 06b Attachment 03 - Infrastructure Investment Policy - Clean VersionItem6a and 6b PowerPoint

Item 7 - Fiscal Year 2022-23 Investment Committee Work Plan

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

Item 07Item 07 Attachment 01 - FY 2022-23 Investment Committee Work Plan

Item 8 - Approval of Minutes of the May 5, 2022, Investment Committee Meeting – Open Session

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

Item 08 - Revised

Item 9 - Report Pursuant to Assembly Bill 2833

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

Item 09Item 09 Attachment 01 - Assembly Bill 2833Item 09 Attachment 02 - Assembly Bill 2833 Senate Bill 439Item 09 Attachment 03 - CalSTRS Report Pursuant to Assembly Bill 2833Item 09 Attachment 04 - Glossary

Item 10 - Annual Review of Delegation to Staff

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

Item 10Item 10 Attachment 01 - Annual Review of Delegation to Staff - Red Line Copy Item 10 Attachment 02 - Annual Review of Delegation to Staff - Clean Copy

Item 11 - Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 12 - Draft Agenda for the Next Committee Meeting

Session: Open | Type: Information | Presenter: Chairperson 

Item 12

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

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

Item 14 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))

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

Item 15 - Approval of Minutes of the May 5, 2022, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)

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

Audits & Risk Management Committee - 1:30 p.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01  Attachment 01 - Committee Agenda

Item 2 - Approval of Minutes of the March 3, 2022, Audits and Risk Management Committee – Open Session

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

Item 02

Item 3 - Progress Report on the 2021 Independent Financial Statement Auditor’s Management Letter

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

Item 03Item 03 Attachment 01 - 2021 Management Letter Progress Report

Item 4 - 2022 Enterprise Compliance Services Plan Mid-Year Progress Report

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

Item 04Item 04 Attachment 01 - Revised CalSTRS Code of Ethics and Business ConductItem 04 Attachment 02 - Previous Code of Ethics and Business Conduct

Item 5 - 2022 Internal Audit Plan Mid-Year Progress Report

Item 05Item 05 Attachment 01 - 2022 Employer Audit Mid-Year Progress ReportItem 05 Attachment 02 - 2022 Internal Audit Mid-Year Progress Report

Session: Open | Type: Information | Presenter: Chief Auditor/Chris Wall/Roseanne Oyoung

Item 6 - Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 7 - Draft Agenda for the Next Committee Meeting

Session: Open | Type: Information | Presenter: Chairperson

Item 07

Item 8 - Opportunity or Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson 

 

Board Governance Committee - 2:15 p.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson 

Item 01Item 01 Attachment 01 - Committee Agenda

Item 2 - Approval of the Minutes of the May 5, 2022, Board Governance Committee Meeting – Open Session

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

Item 02 - Revised

Item 3 - Follow up on Changes to Board Materials Agenda Item Writeup Template

Session: Open | Type: Consent Information | Presenter: Amy McDuffee, Mosaic Governance Advisors

Item 03

Item 4 - Continuation of Board and Committee Meeting Format Discussion

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

Item 04Item 04 Attachment 01 - Option A Prototype Board Meeting CalendarItem 04 Attachment 02 - Option A Board and Committee Work PlanItem 04 Attachment 03 - Option B Prototype Board Meeting CalendarItem 04 Attachment 04 - Option B Board and Committee Work Plan

Item 5 - Review of Information Requests 

Session: Open | Type: Information | Presenter: Chairperson

Item 6 - Draft Agenda for Next Committee Meeting

Session: Open | Type: Information | Presenter: Chairperson

Item 06

Item 7 - Opportunity for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson

 

July 8, 2022

Regular Meeting - 9:00 a.m. 

Item 1 - Approval of Agenda 

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 Attachment 01 - Board Agenda

Item 2 - Proposed Fiscal Year 2022-23 Board/Committee Meeting Work Plan

Session: Open | Type: Action | Presenter: Chairperson 

Item 02Item 02 Attachment 01 - Board and Committee Work Plans - Revised

Item 3 - Chief Executive Officer Report

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

Item 03

Item 4 - CalSTRS Annual Business Plan for 2022-23

Session: Open | Type: Information | Presenter: Lisa Blatnick

Item 04Item 04 Attachment 01 - 2022-23 CalSTRS Business PlanItem 04 PowerPoint

Item 5 - Pension Solution Project Update

Session: Open | Type: Information | Presenter: Lisa Blatnick and Julie Underwood

Item 05

Item 6 - State and Federal Legislation 

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

Item 06Item 06 Attachment 01 - Potential Legislation PlaceholderItem 06 Attachment 02 - Legislative Matrix

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 May 4, 2022, Regular Meeting – Open Session  

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

Item 07b - Revised

Item 7c - Board Member Education - Revised 

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

Item 07c - Revised

Item 7d - Review of CEO Delegation 

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

Item 07dItem 07d Attachment 01 - Review of CEO Delegation

Item 7e - Review of Board Officer and Committee Delegation

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

Item 07e

Item 7f - Approval of Draft Board Operative Principles

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

Item 07fItem 07f Attachment 01 - Draft Operative Principles

Item 7g - Contracts Requiring Board Approval - Revised

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

Item 07g

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 May 4, 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 - Evaluation of CEO and CIO Base Salary Adjustment (Gov. Code, sec. 11126(a), (b), (g)(1))

Session: Closed | Type: Action | Presenter: Chairperson

Item 15 - Setting of CEO and CIO Performance Targets for the 2022-23 Performance Year (Gov. Code, sec. 11126(a), (b), (g))

Session: Closed | Type: Action | Presenter: Chairperson

Item 16 - Chief Executive Officer Briefing on Performance and Personnel Issues (Gov. Code, sec. 11126(a), (b), (g))

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

Item 17 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))

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

Appeals Committee - 11:45 a.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 Attachment 01 - Approval of Committee Agenda

Item 2 - Approval of Minutes for the March 7, 2022, Appeals Committee Meeting - Open Session

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

Item 02

Item 3 - Annual Summary of Appeal Activity for FY 2021-22

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

Item 03Item 03 Attachment 01 - Annual Summary of Appeal Activity for FY 21-22

Item 4 - Annual Summary of Designation of Precedential Decisions for FY 2021-22

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

Item 04

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 March 7, 2022, Appeals Chairperson 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: Consent Action | Presenter: Reina G. Minoya