Board meeting - March 2022
Unless otherwise specified, meetings will be held at the following location:
Web Conference
Public Call Letter - REVISEDAll meeting times are approximate depending upon the end of the previous meeting.
March 3, 2022
Item 1 - Approval of Committee Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 01Item 01 - Attachment 1 - March 2022 Investment Committee AgendaItem 2 - Opportunities for Statements from the Public
Session: Open | Type: Information | Presenter: Chairperson
Item 3a - Open Session Semi Annual Performance Reports - Receive General Consultant – Semi-Annual Performance Report, Period Ending December 31, 2021
Session: Open | Type: Information | Presenter: Stephen McCourt and Mika Malone/ Meketa Investment Group
Item 03aItem 03a - Attachment 1 – Investment Performance At-A-Glance, Period Ending December 31, 2021Item 03a - Attachment 2 – Summary of the Semi-Annual Performance Report, Period Ending December 31, 2021Item 3b - Open Session Semi Annual Performance Reports - Receive Real Estate – Semi-Annual Performance Report, Period Ending September 30, 2021
Session: Open | Type: Information | Presenter: Taylor Mammen and Ben Maslan/ Robert Charles Lesser & Co.
Item 03bItem 03b - Attachment 1 – RFA’s Q3 2021 Semi-Annual Performance Summary for the Real Estate ProgramItem 03b - PowerPointItem 3c - Open Session Semi Annual Performance Reports - Receive Private Equity – Semi-Annual Performance Report, Period Ending September 30, 2021
Session: Open | Type: Information | Presenter: John Haggerty and Steve Hartt/ Meketa Investment Group
Item 03cItem 03c - Attachment 1 – Meketa Investment Group’s Q3 2021 Semi- Annual Performance Summary for the Private Equity ProgramItem 4 - Chief Investment Officer’s Report – Open Session
Session: Open | Type: Information | Presenter: Christopher Ailman
Item 04Item 04 - Attachment 1 – Investment Portfolio Risk Report as of December 31, 2021Item 04 - PowerPointItem 5 - Collaborative Model Pillars Update
Session: Open | Type: Consent Information | Presenter: Chairperson
Item 05Item 05 - Attachment 1 - Q2 Pillars Project Review and Stoplight ChartItem 6 - Investment Services – Collaborative Model 2.0
Session: Open | Type: Consent Information | Presenter: Chairperson
Item 06Item 06 - Attachment 1 - Collaborative Model ImpactsItem 06 - Attachment 2 - New Investment Strategy ProcessItem 7 - Approval of Minutes of the January 27, 2022, Investment Committee Meeting – Open Session
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 07Item 8 - Review of Information Requests
Session: Open | Type: Information | Presenter: Chairperson
Item 9 - Draft Agenda for the Next Committee Meeting
Session: Open | Type: Information | Presenter: Chairperson
Item 09Item 10a - Closed Session Semi – Annual Performance Reports - Receive General Consultant – Semi-Annual Performance Report, Period Ending December 31, 2021 (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Information | Presenter: Stephen McCourt and Mika Malone/ Meketa Investment Group
Item 10b - Closed Session Semi – Annual Performance Reports - Receive Real Estate – Semi-Annual Performance Report, Period Ending September 30, 2021 (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Information | Presenter: Taylor Mammen and Ben Maslan/ Robert Charles Lesser & Co. (RCLCO)
Item 10c - Closed Session Semi – Annual Performance Reports - Receive Private Equity – Semi-Annual Performance Report, Period Ending September 30, 2021 (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Information | Presenter: John Haggerty and Steve Hartt/ Meketa Investment Group
Item 10d - Closed Session Semi – Annual Performance Reports - Semi-Annual Report on Investment Manager Ratings (Gov. Code, sec. 11126(e))
Session: Closed | Type: Information | Presenter: Investment Staff
Item 11 - Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Information | Presenter: Investment Staff and Consultants
Item 12 - Risk Mitigating Strategies Implementation Update (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Information | Presenter: Steven Tong and Jeffrey Jaro
Item 13 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))
Session: Closed | Type: Information | Presenter: Brian J. Bartow
Item 14 - Approval of Minutes of the January 27, 2022, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)
Session: Closed | Type: Action Consent | Presenter: Chairperson
NOTE: Items designated for information are appropriate for committee action if the committee wishes to take action. Items on the agenda of board committees may be referred to the board for discussion and possible action. Agenda items may be taken out of order with the approval of the Chairperson. Board members who are not members of the committee may attend and observe but may not participate in the discussion of agenda items.
Item 1 - Approval of Committee Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 01Item 01 - Attachment 1 - Audits and Risk Management Committee AgendaItem 2 - Approval of Minutes of the November 4, 2021, Audits and Risk Management Committee – Open Session
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 02Item 3 - 2021 Management Letter Progress Report
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 03Item 03 - Attachment 1 – 2021 Independent Financial Statement Auditor’s Management Letter Progress Report as of December 2021Item 4 - Financial Statement Audit Client Service Plan for FY 2021-22
Session: Open | Type: Information | Presenter: Kevin Smith, Jen Aras – Crowe LLP
Item 04Item 04 - PowerPointItem 5 - 2021 Enterprise Compliance Services Plan Final Progress Report
Session: Open | Type: Information | Presenter: Cheryl Dietz
Item 05Item 05 - Attachment 1 - 2021 Enterprise Compliance Services Plan ResultsItem 05 - Attachment 2 - CalSTRS Compliance Program Alignment with Federal Sentencing GuidelinesItem 05 - PowerPointItem 6 - 2021 Internal Audit Plan Final Progress Report
Session: Open | Type: Information | Presenter: Larry Jensen & Roseanne Oyoung
Item 06Item 06 - Attachment 1 – Employer Audit Year End ResultsItem 06 - Attachment 2 – Internal Audit Year End ResultsItem 06 - PowerPointItem 7 - Fiscal Year 2022-23 Meeting Work Plan
Session: Open | Type: Information | Presenter: Larry Jensen
Item 07Item 07 - Attachment 1 – Audits and Risk Management Committee Proposed FY 2022-23 Meeting Work PlanItem 8 - Committee Education: Overview of New Audit Standards and Report Requirements
Session: Open | Type: Information | Presenter: Kevin Smith, Jen Aras – Crowe LLP
Item 08Item 08 - PowerPointItem 9 - Review of Information Requests
Session: Open | Type: Information | Presenter: Chairperson
Item 10 - Draft Agenda for Next Meeting
Session: Open | Type: Information | Presenter: Chairperson
Item 10Item 11 - Opportunity for Statements from the Public
Session: Open | Type: Information | Presenter: Chairperson
NOTE: Items designated for information are appropriate for committee action if the committee wishes to take action. Items on the agenda of board committees may be referred to the board for discussion and possible action. Agenda items may be taken out of order with the approval of the Chairperson. Board members who are not members of the committee may attend and observe but may not participate in the discussion of agenda items.
March 4, 2022
Item 1 - Approval of Committee Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 01Item 01 - Attachment 1 – Regular Meeting AgendaItem 2 - Chief Executive Officer Report
Session: Open | Type: Information | Presenter: Cassandra Lichnock
Item 02Item 3 - State and Federal Legislation
Session: Open | Type: Action | Presenter: Joycelyn Martinez-Wade
Item 03 - RevisedItem 03 - Attachment 1 – SB 868 (Cortese)Item 03 - Attachment 3 – SB 1173 (Gonzalez) - NewItem 03 - Attachment 2 – Milliman Analysis of Potential SBMA Plan ChangesItem 03 - Attachment 4 – Legislative MatrixItem 4 - CalSTRS Strategic Plan 2022-25
Session: Open | Type: Information | Presenter: Amy McDuffee, Mosaic Governance Advisors / Cassandra Lichnock
Item 04Item 04 - Attachment 1 – Draft CalSTRS 2022–25 Strategic PlanItem 5 - Report and Recommendations for Long-Term Incentive Plan
Session: Open | Type: Information | Presenter: Melissa Norcia
Item 05Item 05 - PowerPointItem 6 - Enterprise Risk Management Report
Session: Open | Type: Information | Presenter: Julie Underwood
Item 06Item 06 - Attachment 1 – ERM Heat MapItem 06 - Attachment 2 – Risk Score ReportItem 06 - PowerPointItem 7a - Committee Reports 1) Investment Committee 2) Appeals Committee 3) Audits and Risk Management Committee 4) Benefits and Services Committee 5) Board Governance Committee 6) Compensation Committee
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 7b - Approval of Minutes of the January 28, 2022, Regular Meeting – Open Session
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 07b - RevisedItem 7c - Board Member Education
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 07c - RevisedItem 7d - Contracts Requiring Board Approval
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 07dItem 8 - Items Referred by Committee for Board Decision
Session: Open | Type: Information | Presenter: Chairperson
Item 9 - New Business / Review of Information Requests
Session: Open | Type: Information | Presenter: Chairperson
Item 10 - Draft Agenda for Next Meeting
Session: Open | Type: Information | Presenter: Chairperson
Item 10Item 11 - Opportunity for Statements from the Public
Session: Open | Type: Information | Presenter: Chairperson
Item 12 - Approval of Minutes of the January 28, 2022, Regular Meeting – Closed Session (Gov. Code, sec. 11126)
Session: Closed | Type: Consent Action | Presenter: Chairperson
Item 13 - Committee Reports (Gov. Code, Sec. 11126) a) Investment Committee b) Appeals Committee
Session: Closed | Type: Consent Information| Presenter: Chairperson
Item 14 - Report on Cybersecurity (Gov. Code, sec. 11126 (c)(18)(A))
Session: Closed | Type: Information | Presenter: Scott Tirapelle
Item 15 - Chief Executive Officer Briefing on Performance and Personnel Issues (Gov. Code, sec. 11126(a), (b), (g))
Session: Closed | Type: Information | Presenter: Cassandra Lichnock
Item 16 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))
Session: Closed | Type: Information | Presenter: Brian J. Bartow
NOTE: Items designated for information are appropriate for board action if the board wishes to take action. Agenda items may be taken out of order with the approval of the Chairperson.
March 7, 2022
Item 1 - Approval of Committee Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 01Item 01 - Attachment 1 - Appeals Committee AgendaItem 2 - Approval of Minutes for the August 31, 2021, Appeals Committee Meeting – Open Session
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 02Item 3 - Retirement Readiness: Service Delivery and Member Education of Appeals-Related Issues
Session: Open | Type: Information | Presenter: Kaitlin DuBray and Lan Le
Item 03Item 03 = PowerPointItem 4 - Education: Overview of Precedential Decisions and Designation Process
Session: Open | Type: Information | Presenter: Reina G. Minoya
Item 04Item 04 - PowerPointItem 5 - Staff Report
Session: Open | Type: Information | Presenter: Reina G. Minoya
Item 6 - Review of Information Requests
Session: Open | Type: Information | Presenter: Chairperson
Item 7 - Opportunity for Statements from the Public
Session: Open | Type: Information | Presenter: Chairperson
Item 8 - Approval of Minutes for the August 31, 2021, Appeals Committee Meeting – Closed Session (Gov. Code, sec. 11126)
Session: Closed | Type: Consent Action | Presenter: Chairperson
Item 9 - Confer with Legal Counsel Regarding Pending Litigation (Gov. Code, Sec. 11126(e))
Session: Closed | Type: Information | Presenter: Reina G. Minoya
NOTE: Items designated for information are appropriate for committee action if the committee wishes to take action. Items on the agenda of board committees may be referred to the board for discussion and possible action. Agenda items may be taken out of order with the approval of the Chairperson. Board members who are not members of the committee may attend and observe but may not participate in the discussion of agenda items.