News & Events

CalPERS February 2022 Board Meeting Recap

The CalPERS Board met Monday, February 14, and Tuesday, February 15, via livestream as all board members and presenters participated from their respective remote locations. 

A recording of all the public meetings is now posted on the CalPERS YouTube channel. Here are some highlights from this month’s meetings.  

Monday’s Meeting

2022 Committee Positions Announced

Leadership positions were announced for several of the board’s committees, including the Finance & Administration Committee, Risk & Audit Committee, Performance, Compensation & Talent Management Committee, and Investment Committee. The appointments include both new and returning members and were elected by board members. 

To find the full list of committee members, please visit the board committee webpage. 

2022 Board of Administration State, School, and Special Retired Member Notice of Election

The board approved the Notice of Elections for the state, school, and special retired member election to the CalPERS Board. The election process will begin on March 14, 2022. The new term of office for the state and schools seats will begin January 16, 2023, and run through January 15, 2027.  

For more information, view the agenda item (PDF) and approved notices of election for the state (PDF), school (PDF), and retired (PDF) seats. 

Tuesday’s Meeting

Five-Year Strategic Plan Unveiled

The board heard the first reading of the new five-year strategic plan for the 2022-27 period. The plan outlines long-term goals and major objectives for CalPERS, as well as proposed timelines of achieving those goals. The plan also aims to uphold CalPERS values like pension sustainability, quality health care, stakeholder engagement, organizational excellence, and member experience. 

For more information, view the Five-Year Strategic Plan first look presentation (PDF) or the Five-Year Strategic Plan (PDF). 

Trust Level Review

The investment team provided a report to the board’s Investment Committee about our investment performance for the 2021 calendar year. Highlights include an investment return of 13.3% and outperformance of almost all benchmarks. This is a testament to the investment strategies the team has in place to strengthen the sustainability of the fund and improve the funded status. 

View the CalPERS Trust Level Review (PDF) for more information.  

Proxy Voting and Corporate Engagement Update

The Investment Committee heard a presentation reviewing proxy voting and corporate engagement in 2021, as well as a preview of the focuses for the 2022 season. In the 2021 proxy season, CalPERS made progress on key initiatives including corporate board diversity and accountability, climate risk oversight, and ensuring executive compensation is aligned with performance. In the coming year, we will continue to advance the progress made on these important issues.  

For more information, view our Proxy Voting & Corporate Engagements Update (PDF) and the Proxy Voting webpage.   

Next Board Meeting

The board will meet again March 14-16, and the meeting will be livestreamed. View the full schedule on our Board Meetings Calendar webpage.