A recording of all the public meetings is posted on the CalPERS YouTube channel. Here are some highlights from this month’s meetings.
Monday’s Meeting: Investment Committee
Investment Performance Review and Strategy
The board heard a review of investment performance over the past 10 years, as well as an analysis of trends and lessons learned during that time. This presentation also included predictions on how the review will help the board make informed investment decisions going forward.
For more information, review the agenda (PDF) or the Investment Performance Review and Strategy presentation (PDF).
Tuesday’s Meeting: Finance & Administration Committee
Prefunding Programs Annual Status Report
The board heard a status update of the California Employers’ Retiree Benefit Trust, California Employers’ Prefunding Programs Trust, and Supplemental Income Plans prefunding programs, containing information regarding program demographics, investments, strategies, and more. This annual update helps the board to understand the progress of programs led by CalPERS, promoting the long-term sustainability of the pension fund.
For details, view the agenda (PDF), the Prefunding Programs Annual Status Report presentation (PDF), or the Prefunding Programs Annual Status Report (PDF).
Pension Contracts Management Program Annual Report
The board received an activity and status update of participating employers in the Pension Contracts Management Program, with a focus on the contract program, collection activities, and terminations in process. This annual update provides the board with trend analysis and remedies provided to employers with financial challenges.
For more information, check out the agenda (PDF), the Pension Contracts Management Program Annual Report presentation (PDF), or the Pension Contracts Management Program Annual Report (PDF).
How Investment Returns Impact Employer Contribution Rates
The board was presented with a summary of how employer contribution rates are impacted by the annual investment rate of return. Employer contribution rates can fluctuate based on changes to their asset values, which are calculated at the end of the fiscal year and reported in the Annual Comprehensive Financial Report. Employers can project their future pension costs using the Pension Outlook Tool.
For more information, review the agenda (PDF) or the How Investment Returns Impact Employer Contribution Rates presentation (PDF).
Wednesday’s Meeting: Pension & Health Benefits Committee
Revisions to the Public Employees’ Medical and Hospital Care Act Regulations
The board approved revisions to the Public Employees’ Medical and Hospital Care Act Regulations to clarify a dependent’s eligibility in a Parent-Child Relationship. The revisions are in response to two public comments received from June 3, 2022 to July 18, 2022. The revised regulation package will be resubmitted for an additional 15-day public comment period.
For more information, view the agenda (PDF), the Revised Text Of Proposed Regulatory Action By CalPERS (PDF), or the Summary of and Response to Public Comments Received During the Public Notice Period of June 3, 2022 to July 18, 2022 (PDF).
Preferred Provider Organization Strategic Alignment
The board received an update on the Preferred Provider Organization (PPO) Strategic Alignment Project, featuring initial data analyses, market research, structural aspects of provided PPOs, and potential interventions for the board to consider. This information helps to inform recommendations for changes to basic PPO plans the board will review in November, as well as larger changes and recommendations to consider when developing the 2025-29 PPO Program.
For more information, view the agenda (PDF) or the Preferred Provider Organization (PPO) Strategic Alignment presentation (PDF).
Next Board Meeting
The board will not meet in October. The board will meet again from November 14-16, 2022. View the Board Meetings Calendar for the full schedule.