Board meeting - January 2023
Unless otherwise specified, meetings will be held at the following location:
CalSTRS Board Room, 100 Waterfront Place, West Sacramento, CA 95605
Public Call LetterAll meeting times are approximate depending upon the end of the previous meeting.
January 25, 2023
Item 1 - Approval of Committee Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 01Item 01 Attachment 01 - Board AgendaItem 2 - Approval of Minutes of the August 31, 2022, Benefits
and Services Committee Meeting – Open Session
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 02Item 3 - Supplemental Information on the Triennial Health
Benefits Study
Session: Open | Type: Information | Presenter: Tom Buffalo
Item 03Item 03 PowerPoint 01 - Triennial Health Benefits StudyItem 4 - Lump Sum Death Benefit Analysis
Session: Open | Type: Information | Presenter: Tom Buffalo / David Lamoureux / Rick Reed
Item 04Item 04 Attachment 01 - Benefits Available to Survivors of Active and Retired MembersItem 04 Attachment 02 - Board PolicyItem 5 - The Member Experience: Now and into the Future
Session: Open | Type: Information | Presenter: Kate LeBlanc
Item 05Item 05 PowerPoint 01 - The Member ExperienceItem 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 07Item 8 - Opportunity for Statements from the Public
Session: Open | Type: Information | Presenter: Chairperson
Item 1 - Approval of Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 01Item 01 Attachment 01 - Committee AgendaItem 2 - 2023-24 Board Meeting Calendar
Session: Open | Type: Action | Presenter: Chairperson
Item 02Item 02 Attachment 01 - Proposed FY 23-34 Board Meeting CalendarItem 3 - Chief Executive Officer Report
Session: Open | Type: Information | Presenter: Cassandra Lichnock
Item 03Item 4 - State and Federal Legislation and Consideration of
Regulatory Proposal - Revised
Session: Open | Type: Action | Presenter: Joycelyn Martinez-Wade
Item 04Item 04 Attachment 01 - SJR 1 Board Bill AnalysisItem 04 Attachment 02 - HR 82 Bill AnalysisItem 04 Attachment 03 - Regulatory ProposalItem 04 Attachment 04 - Legislative MatrixItem 5 - Benchmark Review Project
Session: Open | Type: Information | Presenter: Kristel Turko / Stephen McCourt, Meketa Investment Group
Item 05Item 05 Attachment 01Item 05 PowerPoint 01 - Benchmarking ProjectItem 6 - Pension Solution Project Update
Session: Open | Type: Information | Presenter: Ashish Jain / Bill Perez
Item 06Item 06 Attachment 01 - Oversight ReportItem 06 Attachment 01 - GlossaryItem 06 PowerPoint 01 - Pension Solution Project UpdateItem 06 PowerPoint 02 - Guidehouse Independent Project OversightItem 7a - Committee Reports
- Investment Committee
- Appeals Committee
- Audits and Risk Management Committee
- Benefits and Services Committee
- Board Governance Committee
- Compensation Committee
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 7b - Approval of Audit and Risk Management
Committee Leadership Vacancy Appointments
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 07bItem 7c - Approval of Minutes of the November 2, 2022,
Regular Meeting – Open Session
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 07cItem 7d - Board Member Education
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 07dItem 7e - Contracts Requiring Board Approval
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 07eItem 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 10Item 11 - Opportunity for Statements from the Public
Session: Open | Type: Information | Presenter: Chairperson
Item 12 - Approval of Minutes of the November 2, 2022,
Regular Meeting – Closed Session (Gov. Code, sec.
11126)
Session: Closed | Type: Consent Action | Presenter: Chairperson
Item 13 - Committee Reports (Gov. Code, Sec. 11126)
- Investment Committee
- Appeals Committee
Session: Closed | Type: Consent Action | Presenter: Chairperson
Item 14 - Board Meeting Decorum and Security Protocols (Gov.
Code, sec. 11126(c)(18)(A))
Session: Closed | Type: Information | Presenter: Melissa Norcia / Brian Bartow / Jeff Isham
Item 15 - Review CEO/CIO Performance Scorecards (Gov.
Code, sec. 11126(a)(1))
Session: Closed | Type: Information | Presenter: Kristel Turko
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
Item 1 - Approval of Committee Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 01Item 01 Attachment 01 - Committee AgendaItem 2 - Approval of Minutes for the November 3, 2022,
Appeals Committee Meeting – Open Session
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 02Item 3 - Consideration of Proposed Administrative Decision:
- In the Matter of the Retirement Benefits of: Betty Forrester
Session: Open | Type: Action | Presenter: Jody Cozad / Jaismin Kaur
Item 03Item 03 Attachment 03 - Proposed DecisionItem 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 November 3, 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: Reina G. Minoya
Item 9 - Consideration of Proposed Administrative Decision:
- In the Matter of the Retirement Benefits of:
Betty Forrester (Gov. Code, sec. 11126(c)(3))
Session: Closed | Type: Action | Presenter: Chairperson
Item 10 - Announcement of Action Taken on Proposed
Administrative Decision:
- In the Matter of the Retirement Benefits of:
Betty Forrester
Session: Open | Type: Action | Presenter: Chairperson
January 26, 2023
Item 1 - Approval of Committee Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 01Item 01 Attachment 01 - Approval of Committee AgendaItem 2 - Opportunities for Statements from the Public
Session: Open | Type: Information | Presenter: Chairperson
Item 3 - 2023 ALM Study – Capital Market Assumptions
Session: Open | Type: Action | Presenter: Geraldine Jimenez
Item 03Item 03 Attachment 01 - ALM Study Asset Class Capital Markets AssumptionsItem 03 Attachment 03 - Meketa Memo Item 03 Attachment 02 - ALM Study Assumptions PRocessItem 03 PowerPoint 01 - ALM StudyItem 4 - Investment Policy Management Plan – Asset Allocation
Step Change – First Reading
Session: Open | Type: Action | Presenter: Geraldine Jimenez
Item 04Item 04 Attachment 01 - Meketa Investment Group Concurrence MemoItem 04 Attachment 02 - Investment Policy and Management Plan - Redline VersionItem 04 Attachment 03 - Investment Policy and Management - Clean VersionItem 5 - Chief Investment Officer’s Report
Session: Open | Type: Information | Presenter: Christopher Ailman
Item 05Item 05 Attachment 01 - Investment Portfolio Risk ReportItem 05 Presentation 01 - Chief Investment Officer ReportItem 6 - Operationalizing the Pillars Project
Session: Open | Type: Information | Presenter: Scott Chan, Lisa Blatnick, Vaishali Dwarka, April Wilcox, Kristel Turko, and Mike DiRe
Item 06Item 06 PowerPoint 01 - Pillars Project CloseoutItem 7 - Investment Policy Statement (IPMP Modernization
Project) – Preliminary Reading
Session: Open | Type: Information | Presenter: Geraldine Jimenez, Shifat Hasan, and Melissa DaRonco
Item 07 Item 07 Attachment 01 - Investment Policy StatmentItem 07 Attachment 02 - Investment Policy Management Plan to Investment Policy Statement Item 07 PowerPoint 01 - Investment Policy (IPMP Modernization Project) - Preliminary ReadingItem 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 09Item 10 - Approval of Minutes of the November 3, 2023,
Investment Committee Meeting – Open Session
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 10Item 11 - Selection of Real Estate Consultant
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 11Item 11 Attachment 01 - Scope of Work Item 11 Attachment 02 - ResolutionItem 12 - SISS – 2023 Stewardship Priorities, 2022 Highlights
Session: Open | Type: Consent Action | Presenter: Kirsty Jenkinson
Item 12Item 12 Attachment 01 - CalSTRS STewardship ProritiesItem 12 Attachment 02 - 2022 Stewardship highlightsItem 12 Attacahment 03 - 2023 Stewardship Framework GoalsItem 12 Attachment 04 - 2022 Addressing Climate-Related Financial Risk ReportItem 12 PowerPoint 01 - Sustainable Investement & Stewardship Strategies (SISS)Item 13 - Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Information | Presenter: 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 | Presenter: Brian J. Bartow
Item 15 - Approval of Minutes of the November 3, 2022, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)
Session: Closed | Type: Consent Action | Presenter: Chairperson
