The CalPERS Board met from Monday, September 16 through Wednesday, September 18 at the CalPERS headquarters in Sacramento, California.
A recording of all the public meetings have now posted to the CalPERS YouTube channel.
Following are highlights from this month’s meetings.
On Monday, the Investment Committee conducted its annual reviews of both the global equity (PDF) and global fixed income (PDF) programs. With more than $290 billion invested in public equities and fixed income, these two asset classes form the foundation of our $381 billion portfolio. The reviews highlighted the accomplishments and challenges each asset class faced over the past fiscal year, and the different roles they play to help the fund achieve its return target.
Finance & Administration Committee
On Tuesday, CalPERS CFO Michael Cohen discussed the new California Employers’ Pension Prefunding Trust program, or CEPPT. This new program launched in July and enables employers to voluntarily begin prefunding their future pension contributions.
In addition, the committee also learned more about the Pension Navigator (PDF), which gives employers the ability to change various assumptions like investment returns or the discount rate to project what their contributions would be 10, 20, or 30 years from now. The tool is designed to help employers understand their pension costs and how those might change under a number of different scenarios.
Next Board Meeting
The CalPERS Board does not meet in October. The next board meeting will be November 18–20 at the CalPERS headquarters in Sacramento.