News & Events

CalPERS April 2022 Board Meeting Preview

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This month the CalPERS Board will meet in-person at CalPERS Headquarters on Monday, April 18, and Tuesday, April 19.

Board meetings are open to the public and comments are welcome. You can submit comments in person or by calling (800) 259-4105. You can also watch our live webcast on the CalPERS website.

We will post a recording to the CalPERS YouTube channel approximately 48 hours after the meeting ends.

Full agendas are posted on our website, but here is a brief overview of the items the board will hear this month:

Monday’s Meeting

The Finance and Administration Committee will receive results from the Long-Term Care Program’s annual actuarial valuation report (PDF) for the 2020-21 fiscal year. During this time, the program experienced an investment return of 13%, which exceeded the assumed long-term investment return of 4.75%.

This higher-than-expected investment return improved the margin by 10.3%. The program also experienced higher mortality, fewer new claims, and fewer claim payments during the fiscal year, largely attributed to COVID-19.

Tuesday’s Meeting

The Board of Administration will receive the second draft of the CalPERS 2022-27 Strategic Plan (PDF). During the second reading, staff will present (PDF) the changes made since the last meeting and ask the board for input regarding strategic measurements.

The board will hear about potential legislation that would impact CalPERS. The board will discuss and vote on whether to support or oppose Senate Bill 1173 (Gonzalez) (PDF), which would restrict CalPERS and CalSTRS from making new investments in fossil fuel companies.

The board will also hear about Senate Bill 1328 (McGuire) (PDF),which would mandate CalPERS’ divestment from companies with any business operations in Russia or Belarus. This is only an informational item, and the board will not vote on a position at the April meeting. CalPERS is already in compliance with all sanctions and taking additional steps, as outlined in our recent letter to Governor Newsom.

Next Board Meeting

The board will meet again June 13-15, 2022. View the Board Meetings Calendar for the full schedule.