A recording of all the public meetings has now posted to the CalPERS YouTube Channel.
Here are some highlights from this month’s meetings:
The Board Governance Committee heard about proposed changes to the CalPERS Board structure. This is the result of more than a year’s worth of work by staff and board members, and through a partnership with the National Association of Corporate Directors.
The CalPERS Board approved the following items:
- Enrich and expand an onboarding program for new board members.
- Reduce the number of board meetings to a minimum of six times a year.
- Establish that all board committees will meet a minimum of four times a year.
- Reduce the number of board offsite meetings from two to one.
- Add a new annual Stakeholder Forum.
- Establish a consistent structure for board committees. Currently, the Investment Committee includes all board members, while all other committees are composed of either seven or nine board members. With this decision, the Investment Committee will follow the structure of the other committees.
- Develop and adopt a board Code of Conduct.
The changes to the board schedule and committees will take effect in January.
On Tuesday, the board heard from Hiromichi Mizuno, the chief managing director and chief investment officer of the Government Pension Investment Fund in Japan. The GPIF is the world’s largest pension fund, with over $1.5 trillion in assets.
Mr. Mizuno’s presentation gave the board insights into how the GPIF is structured and how it operates. His informational talk covered many topics, including how Japan’s fund promotes long-term performance and sustainability.
Mental Health Care
The Pension & Health Benefits Committee heard a presentation on mental health. CalPERS’ chief medical officer, Dr. Julia Logan, shared with the committee that one in six Californians experience mental illness every year and that depression ranks among the top three workplace issues nationwide.
The board discussed the importance of ensuring that the health plans CalPERS contracts with follow through on their commitment to offer mental health services to our members.
New Board Member and Chief Health Director
On Monday, Stacie Olivares was sworn in as CalPERS’ newest board member. She was recently appointed by Governor Newsom to the insurance industry representative seat on the board.
CalPERS’ new chief health director, Don Moulds, Ph.D., also started on Monday. He has more than 20 years of strategic leadership in government and the health policy field at both the state and federal level.
September Board Meeting
The next CalPERS Board meetings are Monday, September 16, through Wednesday, September 18, at the CalPERS headquarters in Sacramento.