Requires the CalSTRS and CalPERS boards, commencing March 1, 2023, to submit an annual report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by each board, regarding participation of emerging or diverse asset managers in their investment portfolios. The report must be based on contracts entered into on and after January 1, 2022, and must include specified information regarding each emerging or diverse manager. The bill sunsets on January 1, 2028.

• Version: Chaptered (Chapter 472, Statutes of 2021)
• Sponsor: The New America Alliance
• Location: Signed by Governor
• Board Position: Neutral

CalSTRS analysis: