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Payment calendarCheck mailed December 27Direct deposit January 2

Board meeting - January 2023

Unless otherwise specified, meetings will be held at the following location:

CalSTRS Board Room, 100 Waterfront Place, West Sacramento, CA 95605

Public Call Letter

All meeting times are approximate depending upon the end of the previous meeting.

January 25, 2023

Benefits & Services Committee - 9:00 a.m. 

Item 1 - Approval of Committee Agenda 

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 Attachment 01 - Board Agenda 

Item 2 - Approval of Minutes of the August 31, 2022, Benefits
and Services Committee Meeting – Open Session

Session: Open | Type: Consent Action | Presenter: Chairperson

Item 02

Item 3 - Supplemental Information on the Triennial Health
Benefits Study

Session: Open | Type: Information | Presenter: Tom Buffalo

Item 03Item 03 PowerPoint 01 - Triennial Health Benefits Study

Item 4 - Lump Sum Death Benefit Analysis

Session: Open | Type: Information | Presenter: Tom Buffalo / David Lamoureux / Rick Reed

Item 04Item 04 Attachment 01 - Benefits Available to Survivors of Active and Retired MembersItem 04 Attachment 02 - Board Policy

Item 5 - The Member Experience: Now and into the Future

Session: Open | Type: Information | Presenter: Kate LeBlanc

Item 05Item 05 PowerPoint 01 - The Member Experience

Item 6 - Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 7 - Draft Agenda for the Next Committee Meeting

Session: Open | Type: Information | Presenter: Chairperson

Item 07

Item 8 - Opportunity for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson

Regular Meeting - 10:45 a.m. 

Item 1 - Approval of Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 Attachment 01 - Committee Agenda

Item 2 - 2023-24 Board Meeting Calendar

Session: Open | Type: Action | Presenter: Chairperson 

Item 02Item 02 Attachment 01 - Proposed FY 23-34 Board Meeting Calendar

Item 3 - Chief Executive Officer Report

Session: Open | Type: Information | Presenter: Cassandra Lichnock

Item 03

Item 4 - State and Federal Legislation and Consideration of
Regulatory Proposal - Revised

Session: Open | Type: Action | Presenter: Joycelyn Martinez-Wade

Item 04Item 04 Attachment 01 - SJR 1 Board Bill AnalysisItem 04 Attachment 02 - HR 82 Bill AnalysisItem 04 Attachment 03 - Regulatory ProposalItem 04 Attachment 04 - Legislative Matrix

Item 5 - Benchmark Review Project

Session: Open | Type: Information | Presenter: Kristel Turko / Stephen McCourt, Meketa Investment Group

Item 05Item 05 Attachment 01Item 05 PowerPoint 01 - Benchmarking Project

Item 6 - Pension Solution Project Update

Session: Open | Type: Information | Presenter: Ashish Jain / Bill Perez 

Item 06Item 06 Attachment 01 - Oversight ReportItem 06 Attachment 01 - GlossaryItem 06 PowerPoint 01 - Pension Solution Project UpdateItem 06 PowerPoint 02 - Guidehouse Independent Project Oversight

Item 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 Audit and Risk Management
Committee Leadership Vacancy Appointments

Session: Open | Type: Consent Action | Presenter: Chairperson 

Item 07b

Item 7c -  Approval of Minutes of the November 2, 2022,
Regular Meeting – Open Session

Session: Open | Type: Consent Action | Presenter: Chairperson

Item 07c

Item 7d - Board Member Education

Session: Open | Type: Consent Action | Presenter: Chairperson

Item 07d

Item 7e - Contracts Requiring Board Approval

Session: Open | Type: Consent Action | Presenter: Chairperson

Item 07e

Item 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 10

Item 11 - Opportunity for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson

Item 12 - Approval of Minutes of the November 2, 2022,
Regular Meeting – Closed Session (Gov. Code, sec.
11126)

Session: Closed | Type: Consent Action | Presenter: Chairperson

Item 13 - Committee Reports (Gov. Code, Sec. 11126)

  • Investment Committee
  • Appeals Committee

Session: Closed | Type: Consent Action | Presenter: Chairperson

Item 14 - Board Meeting Decorum and Security Protocols (Gov.
Code, sec. 11126(c)(18)(A))

Session: Closed | Type: Information | Presenter: Melissa Norcia / Brian Bartow / Jeff Isham

Item 15 - Review CEO/CIO Performance Scorecards (Gov.
Code, sec. 11126(a)(1))

Session: Closed | Type: Information | Presenter: Kristel Turko

Item 16 - Chief Executive Officer Briefing on Performance and
Personnel Issues (Gov. Code, sec. 11126(a), (b), (g))

Session: Closed | Type: Information | Presenter: Cassandra Lichnock

Item 17 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))

Session: Closed | Type: Information | Presenter: Brian J. Bartow 

Appeals Committee - 2:30 p.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 Attachment 01 - Committee Agenda

Item 2 - Approval of Minutes for the November 3, 2022,
Appeals Committee Meeting – Open Session

Session: Open | Type: Consent Action | Presenter: Chairperson

Item 02

Item 3 - Consideration of Proposed Administrative Decision:

  • In the Matter of the Retirement Benefits of: Betty Forrester

Session: Open | Type: Action | Presenter: Jody Cozad / Jaismin Kaur

Item 03Item 03 Attachment 03 - Proposed Decision 

Item 4 - Staff Report

Session: Open | Type: Information | Presenter: Reina G. Minoya

Item 5 - Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 6 - Opportunity for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson

Item 7 - Approval of Minutes for the November 3, 2022,
Appeals Committee Meeting – Closed Session (Gov.
Code, sec. 11126)

Session: Closed | Type: Consent Action | Presenter: Chairperson

Item 8 - Confer with Legal Counsel Regarding Pending
Litigation (Gov. Code, Sec. 11126(e))

Session: Closed | Type: Information | Presenter: Reina G. Minoya

Item 9 - Consideration of Proposed Administrative Decision:

  • In the Matter of the Retirement Benefits of:
    Betty Forrester (Gov. Code, sec. 11126(c)(3))

Session: Closed | Type: Action | Presenter: Chairperson

Item 10 - Announcement of Action Taken on Proposed
Administrative Decision:

  • In the Matter of the Retirement Benefits of:
    Betty Forrester

Session: Open | Type: Action | Presenter: Chairperson

January 26, 2023

Investment Committee 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Item 01 Attachment 01 - Approval of Committee Agenda

Item 2 - Opportunities for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson

Item 3 - 2023 ALM Study – Capital Market Assumptions

Session: Open | Type: Action | Presenter: Geraldine Jimenez

Item 03Item 03 Attachment 01 - ALM Study Asset Class Capital Markets AssumptionsItem 03 Attachment 03 - Meketa Memo Item 03 Attachment 02 - ALM Study Assumptions PRocessItem 03 PowerPoint 01 - ALM Study

Item 4 - Investment Policy Management Plan – Asset Allocation
Step Change – First Reading

Session: Open | Type: Action | Presenter: Geraldine Jimenez

Item 04Item 04 Attachment 01 - Meketa Investment Group Concurrence MemoItem 04 Attachment 02 - Investment Policy and Management Plan - Redline VersionItem 04 Attachment 03 - Investment Policy and Management - Clean Version

Item 5 - Chief Investment Officer’s Report

Session: Open | Type: Information | Presenter: Christopher Ailman 

Item 05Item 05 Attachment 01 - Investment Portfolio Risk ReportItem 05 Presentation 01 - Chief Investment Officer Report

Item 6 - Operationalizing the Pillars Project

Session: Open | Type: Information | Presenter: Scott Chan, Lisa Blatnick, Vaishali Dwarka, April Wilcox, Kristel Turko, and Mike DiRe

Item 06Item 06 PowerPoint 01 - Pillars Project Closeout

Item 7 - Investment Policy Statement (IPMP Modernization
Project) – Preliminary Reading

Session: Open | Type: Information | Presenter: Geraldine Jimenez, Shifat Hasan, and Melissa DaRonco

Item 07 Item 07 Attachment 01 - Investment Policy StatmentItem 07 Attachment 02 - Investment Policy Management Plan to Investment Policy Statement Item 07 PowerPoint 01 - Investment Policy (IPMP Modernization Project) - Preliminary Reading

Item 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 09

Item 10 - Approval of Minutes of the November 3, 2023,
Investment Committee Meeting – Open Session

Session: Open | Type: Consent Action | Presenter: Chairperson

Item 10

Item 11 - Selection of Real Estate Consultant

Session: Open | Type: Consent Action | Presenter: Chairperson

Item 11Item 11 Attachment 01 - Scope of Work Item 11 Attachment 02 - Resolution

Item 12 - SISS – 2023 Stewardship Priorities, 2022 Highlights

Session: Open | Type: Consent Action | Presenter: Kirsty Jenkinson

Item 12Item 12 Attachment 01 - CalSTRS STewardship ProritiesItem 12 Attachment 02 - 2022 Stewardship highlightsItem 12 Attacahment 03 - 2023 Stewardship Framework GoalsItem 12 Attachment 04 - 2022 Addressing Climate-Related Financial Risk ReportItem 12 PowerPoint 01 - Sustainable Investement & Stewardship Strategies (SISS)

Item 13 - Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Information | Presenter: Investment Staff and Consultants

Item 14 - 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 15 - Approval of Minutes of the November 3, 2022, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)

Session: Closed | Type: Consent Action | Presenter: Chairperson