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Payment calendarCheck mailed September 28Direct deposit September 30

Board meeting - September 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.

August 31, 2022

Investment Committee - 9:00 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 - Opportunities for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson

Item 3a - Net Zero First Year Progress and Planning Update

Session: Open | Type: Action | Presenter: Kirsty Jenkinson

Item 03aItem 03a Attachment 01 - CalSTRS 2022-23 Asset-Liability Management (ALM) Study Fact SheetItem 03a Attachment 02 - Low Carbon Index Modeling Assumptions Item 03a Attachment 03 - Low Carbon Index Modeling Risk Analysis Item 03a Attachment 04 - Meketa Net Zero Concurrence MemoItem 03a PowerPoint 01

Item 3b - Net Zero First Year Progress and Planning Update

Session: Open | Type: Information | Presenter: Kirsty Jenkinson

Item 03b

Item 4 - Open Session Semi-Annual Performance Reports 

     a. Receive General Consultant – Semi-Annual Performance Report, Period Ending June 30, 2022

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

Item 04aItem 04a Attachment 01 - Investment Performance At-A-Glance, Period Ending June 30, 2022Item 04a Attachment 02 - Summary of the Semi-Annual Performance Report, Period Ending June 30, 2022 Item 04a Attachment 03 - Semi-Annual Performance Report, Period Ending June 30, 2022

     b. Receive Real Estate – Semi-Annual Performance Report, Period Ending March 31, 2022

     Session: Open | Type: Information | Presenter: Taylor Mammen and Ben Maslan/RCLCO Fund Advisors (RFA)

Item 04bItem 04b Attachment 01 - RFA’s Q1 2022 Semi-Annual Performance Summary for the Real Estate ProgramItem 04b Attachment 02 - RFA’s Q1 2022 Semi-Annual Performance Report for the Real Estate ProgramItem 04b PowerPoint 01

     c. Receive Private Equity – Semi-Annual Performance Report, Period Ending March 31, 2022

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

Item 04cItem 04c Attachment 01 - Meketa Investment Group’s Q1 2022 Semi-Annual Performance Report Summary for the Private Equity ProgramItem 04c Attachment 02 - Meketa Investment Group’s Q1 2022 Semi-Annual Report for the Private Equity Program

     d. RMS and SISS Semi-Annual Monitoring Report (Gov. Code, sec. 11126(c)(16))

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

Item 04d

Item 5 - Chief Investment Officer’s Report – Open Session

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

Item 05Item 05 Attachment 01 - CalSTRS Divestment Cost ReportItem 05 Attachment 02 - Investment Portfolio Risk ReportItem 05 Attachment 03 - Special Mandates Policy Annual Report FY 21-22Item 05 PowerPoint 01

Item 6 - Approval of Minutes of the July 7, 2022, Investment Committee Meeting – Open Session

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

Item 06

Item 7 - Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 8 - Draft Agenda for the Next Committee Meeting

Session: Open | Type: Information | Presenter: Chairperson

Item 08

Item 9 - Closed Session Semi-Annual Performance Reports

     a. Receive General Consultant – Semi-Annual Performance Report, Period Ending June 30, 2022 (Gov. Code, sec. 11126(c)(16))

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

     b. Receive Real Estate – Semi-Annual Performance Report, Period Ending March 31, 2022 (Gov. Code, sec. 11126(c)(16))

     Session: Closed | Type: Information | Presenter: Taylor Mammen and Ben Maslan, RCLCO Fund Advisors (RFA)

     c. Receive Private Equity – Semi-Annual Performance Report, Period Ending March 31, 2022 (Gov. Code, sec. 11126(c)(16))

     Session: Closed | Type: Information | Presenter: John Haggerty, Meketa Investment Group

     d. RMS and SISS Semi-Annual Monitoring Report (Gov. Code, sec. 11126(c)(16))

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

     e. Semi-Annual Report on Investment Manager Ratings (Gov. Code, sec. 11126(e))

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

Item 10 - Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))

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

Item 11 - 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 12 - Approval of Minutes of the July 7, 2022, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)

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

 

Benefits & Services Committee - 2:15 p.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 Attachment 01 - Approval of Committee Agenda

Item 2 - Review Committee Charter Revisions

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

Item 02Item 02 Attachment 01 - Charter redlineItem 02 Attachment 02 - Charter

Item 3 - Approval of Minutes of the May 4, 2022, Benefits and Services Committee Meeting – Open Session

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

Item 03

Item 4 - Annual Member Survey

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

Item 04Item 04 Attachment 01 - 2022 Member Survey ReportItem 04 PowerPoint 01

Item 5 - Subrogation Claims Overview

Session: Open | Type: Information | Presenter: Sukha Chima / Reina Minoya

Item 05Item 05 PowerPoint 01

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 for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson 

 

September 1, 2022

Regular Meeting - 9:00 a.m. 

Item 1 - Approval of Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 Attachment 01 - Approval of Committee Agenda

Item 2 - Chief Executive Officer Report

Session: Open | Type: Information | Presenter: Chairperson

Item 02Item 02 Attachment 01 - Ombuds Report

Item 3 - Notice of Board Elections

Session: Open | Type: Action | Presenter: Mark Gini

Item 03Item 03 Attachment 02 - Resolution

Item 4 - Pension Solution Project Update and Budget Adjustment

Session: Open | Type: Action | Presenter: Ashish Jain / Bill Perez / Graeme Finley, Grant Thornton LLP

Item 04Item 04 Attachment 01 - Project Oversight ReportItem 04 Attachment 02 - Proposed 2022–23 Interim Pension Solution Project Budget Adjustment Resolution 

Item 5 - Proposed 2023-24 Operating Budget Concepts, Other Budgetary Changes and Additional Budgetary Considerations

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

Item 05Item 05 PowerPoint 01

Item 6 - Enterprise Risk Management Report

Session: Open | Type: Information | Presenter: Phillip Burkholder

Item 06Item 06 Attachment 01 - ERM Heat MapItem 06 Attachment 02 - Risk Score ReportItem 06 PowerPoint 01

Item 7 - Update on Integrating Sustainability Principles Across the Enterprise

Session: Open | Type: Information | Presenter; Lisa Blatnick / Scott Chan 

Item 07Item 07 PowerPoint 01

Item 8 - State and Federal Legislation 

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

Item 08 - RevisedItem 08 Attachment 01 - AB 1667 (Cooper) - RevisedItem 08 Attachment 02 - Legislative Matrix - Revised

Item 9a - Committee Reports

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

  1. Investment Committee
  2. Appeals Committee
  3. Audits and Risk Management Committee
  4. Benefits and Services Committee
  5. Board Governance Committee
  6. Compensation Committee

Item 9b - Approval of Minutes of the July 8, 2022, Regular Meeting – Open Session

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

Item 09b

Item 9c - Board Member Education 

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

Item 09c

Item 9d - Contracts Requiring Board Approval

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

Item 09d

Item 10 - Items Referred by Committee for Board Decision

Session: Open | Type: Information | Presenter: Chairperson

Item 11 - New Business / Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 12 - Draft Agenda for Next Meeting

Session: Open | Type: Information | Presenter: Chairperson

Item 12

Item 13 - Opportunity for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson


Item 14 - Approval of Minutes of the July 8, 2022, Regular Meeting – Closed Session (Gov. Code, sec. 11126)

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

Item 15 - Committee Reports (Gov. Code, Sec. 11126)

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

     a. Investment Committee

     b. Appeals Committee

Item 16 - Report on Cybersecurity (Gov. Code, sec. 11126 (c)(18)(A))

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

Item 17 - Investment Performance Impact on Incentive Pay for the 2021-22 Plan Year (Gov. Code, sec. 11126)

Session: Closed | Type: Information | Presenter: Melissa Norcia / Kristel Turko

Item 18 - Chief Executive Officer Briefing on Performance and Personnel Issues (Gov. Code, sec. 11126(a), (b), (g))

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

Item 19 - 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 - 1:15 p.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 Attachment 01 - Approval of Agenda

Item 2 - Approval of Minutes for the July 8, 2022, Appeals Committee Meeting – Open Session

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

Item 02

Item 3 - Education: Appeals Committee Duties, Responsibilities and Process for Consideration of Proposed Decisions

Session: Open | Type: Information | Presenter: Chris Waddell, Olson Remcho

Item 03Item 03 PowerPoint 01

Item 4 - Staff Report

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

Item 5 - Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 6 - Opportunity for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson


Item 7 - Approval of Minutes for the July 8, 2022, Appeals Committee Meeting –Closed Session (Gov. Code, sec. 11126)

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

Item 8 - Confer with Legal Counsel Regarding Pending Litigation (Gov. Code, Sec. 11126(e))

Session: Closed | Type: Information | Presenter: Chairperson