Board meeting - January 2026

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

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

Members of the public may provide comment via public comment via telephone at (866) 236-6010. Board members may participate in this meeting via teleconference.

Public Call Letter

For labor dispute issues contact the General Counsel office at legalservices@calstrs.com.

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

January 28, 2026

Compensation Committee - 10:30 a.m.

Item 1 - Approval of Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01 Attachment 01

Item 2 - Report on Labor Market Benchmarking for Statutory Positions Under the Board’s Compensation Setting Authority

Session: Open | Type: Action | Presenter: Kristel Turko / Maureen Reilly, McLagan AON / Josh Wilson and Susan Lemke, Mercer

Item 02 Attachment 01 Presentation 01

Item 3 - Approval of Minutes of the September 4, 2025, Compensation Committee Meeting – Open Session

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

Item 03

Item 4 - Review of Information Requests

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

Item 5 - Draft Agenda for the Next Committee Meeting

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

Item 05

Item 6 - Opportunity for Statements from the Public

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

Regular Meeting - 12:30 p.m.

Item 1 - Approval of Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01 Attachment 01

Item 2 - Board Education – Tech Enablement and Artificial Intelligence: Implications for Institutional Investors

Session: Open | Type: Information | Presenter: Dr. Ashby Monk, Stanford University

Item 02 Attachment 01 Presentation 01

Item 3 - Chief Executive Officer Report

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

Item 03

Item 4 - 2026-27 Board Meeting Calendar – Second Reading

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

Item 04 Attachment 01

Item 5a - Voice of the Customer

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

Item 05a Attachment 01

Item 5b - State and Federal Legislation

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

Item 05b Attachment 01 Attachment 02

Item 6a - Committee Reports

Investment Committee
Appeals Committee
Audits and Risk Management Committee
Board Governance Committee
Compensation Committee

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

Item 6b - Approval of Minutes of the November 12-13, 2025, Regular Meeting – Open Session

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

Item 06b

Item 6c - Approval of Minutes of the July 8-10, 2025, Offsite Regular Meeting – Open Session

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

Item 06c

Item 6d - Board Member Education

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

Item 06d

Item 6e - Contracts Requiring Board Approval

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

Item 06e

Item 7 - Items Referred by Committee for Board Decision

Session: Open | Type: Information | Presenter: Chairperson

Item 8 - New Business / Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 9 - Draft Agenda for Next Meeting

Session: Open | Type: Information | Presenter: Chairperson

Item 09

Item 10 - Opportunity for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson

Item 11 - Approval of Minutes of the November 12-13, Regular Meeting – Closed Session (Gov. Code, sec. 11126)

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

Item 12 - Approval of Minutes of the July 8-10, 2025, Offsite 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 Information | Presenter: Chairperson

Item 14 - Chief Executive Officer Briefing on Performance and Personnel Issues (Gov. Code, sec. 11126(a), (b), (g))

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

Item 15 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))

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

January 29, 2026

Investment Committee - 9:00 a.m.

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01 Attachment 01

Item 2 - Opportunities for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson

Item 3 - Chief Investment Officer Report

Session: Open | Type: Information | Presenter: Scott Chan

Item 03 Attachment 01 Presentation 01

Item 4 - Approval of Minutes of the November 12, 2025, Investment Committee Meeting – Open Session

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

Item 04

Item 5 - Private Equity Consultant Request for Proposal

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

Item 05 Attachment 01

Item 6 - CalSTRS Stewardship Priorities Annual Update

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

Item 06 Attachment 01

Item 7 - Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 8 - Draft Agenda for the Next Committee Meeting

Session: Open | Type: Information | Presenter: Chairperson

Item 08

Item 9 - Chief Investment Officer's Report (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Information | Presenter: Scott Chan

Item 10 - Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Information | Presenter: Geraldine Jimenez, Rosie Lucchesini, David Murphy, Aeisha Mastagni, Lynn Paquin, Nile Garritson, and Investment Consultants

Item 11 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))

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

Item 12 - Approval of Minutes of November 12, 2025, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)

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