This month the CalPERS Board will meet in person at CalPERS Headquarters from Monday, November 14, through Wednesday, November 16.
Board meetings are open to the public and comments are welcome. You can submit comments by calling (800) 259-4105. You can also watch our live broadcast via webcast on the CalPERS website.
We’ll 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 Investment Committee will receive a presentation on the CalPERS for California Report (PDF). The presentation (PDF) will cover CalPERS’ investments in California and the jobs supported by private asset class investments. The committee will also hear a second reading of the revisions to the Total Fund Policy (PDF), which include increased allocations to Private Equity and Real Assets and the inclusion of Private Debt. Our team will present information and statistics to give perspective regarding the cost of having lower delegated authority limits.
Additionally, our team will present CalPERS’ first Diversity in the Management of Investments Report (PDF) mandated by Assembly Bill 890 to submit to the California State Legislature. Finally, CalPERS will respond to the recommendations of the TCFD and California Senate Bill 964 (PDF).
Tuesday’s Meeting
The Pension & Health Benefits Committee will receive the Health Benefits Annual Report for Plan Year 2021 (PDF). This year’s report (PDF) is the seventh edition and covers topics such as basic health plans’ actuarial values, health plan member satisfaction survey results, and health coverage offerings, among other topics.
The committee will review the revised proposed regulation to define Limited Duration Employment (PDF). The revisions were based on comments made by public agencies, employee or employer associations, law firms, individuals, and state departments. They aimed to clarify the meaning of working after retirement.
The committee will hear, discuss, and take action on the Health Benefits Program Proposals for the 2024 Plan Year (PDF). The two proposals recommended for approval are a site of care program for labs for Preferred Provider Organization (PPO) members only and a mail order opt-out program for maintenance medications for PPO and Health Maintenance Organization (HMO) members using CalPERS’ pharmacy benefit manager.
The Finance & Administration Committee will receive the 2022 Annual Review of the Funding Levels and Risk Report (PDF). The annual report (PDF) provides a comprehensive summary of the current funding levels and the near-term outlook for required contributions. In addition, the report describes important information regarding near and long-term risks faced by the system.
Next Board Meeting
The board will meet next from February 13-14, 2023. View the Board Meetings Calendar for the full schedule.