Payment calendarCheck mailed September 28Direct deposit October 1
September 22, 2026

Board meeting - September 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 telephone at (866) 236-6010. Board members may participate in this meeting via teleconference.

Public Call Letter

For labor disputes contact the General Counsel's office at legalservices@calstrs.com.

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

September 22, 2026

Regular Meeting - 11:00 a.m. 

Item 1 - Board Self-Evaluation

Session: Closed | Type: Action | Presenter: Chairperson / Amy McDuffee, Mosaic Governance Advisors, LLC

Item 2 - Annual Evaluation – Chief Executive Officer (Gov. Code, sec. 11126(a))

Session: Closed | Type: Action | Presenter: Denise Bradford / Amy McDuffee, Mosaic Governance Advisors, LLC

Item 3 - Annual Evaluation – Chief Investment Officer (Gov. Code, sec. 11126(a))

Session: Closed | Type: Action | Presenter: Harry Keiley / Amy McDuffee, Mosaic Governance Advisors, LLC

 

September 23, 2026

Investment Committee - 9:00 a.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Attachment 01

Item 2 - Opportunities for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson

Item 3 - Chief Investment Officer’s Report

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

Item 03Attachment 01Attachment 02Attachment 03Presentation 01

Item 4a - Semi-Annual Performance Reports - Receive General Consultant – Semi-Annual Performance Report, Period Ending June 30, 2026

Session: Open | Type: Information | Presenter: Stephen McCourt and Stephanie Sorg, Meketa Investment Group

Item 04aAttachment 01Attachment 02Attachment 03Presentation 01

Item 4b - Semi-Annual Performance Reports - Receive Real Estate Consultant - Semi-Annual Performance Report, Period Ending March 31, 2026

Session: Open | Type: Information | Presenter: Ben Maslan and Taylor Mammen, RCLCO Fund Advisors (RFA)

Item 04bAttachment 01Attachment 02Presentation 01

Item 4c - Receive Private Equity Consultant - Semi-Annual Performance Report, Period Ending March 31, 2026

Session: Open | Type: Information | Presenter: John Haggerty and Ryan Marie Decker, Meketa Investment Group

Item 04cAttachment 01Attachment 02Presentation 01

Item 5 - Report Pursuant to Assembly Bill 2833

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

Item 05Attachment 01Attachment 02

Item 6 - Annual Review of Delegation to Staff

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

Item 06Attachment 01

Item 7 - Approval of Minutes of the May 27, 2026, Investment Committee Meeting – Open Session

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

Item 07

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

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

Item 11 - Shared Vision: IB Shared Vision Plan - First Reading (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Information | Presenter: Scott Chan and Geraldine Jimenez

Item 12 - Consideration of Investment Decision (Gov. Code sec 11126 (c)(16))

Session: Closed | Type: Information | Presenter: Scott Chan and Geraldine Jimenez

Item 13a - Closed Session Semi-Annual Performance Reports - Receive General Consultant – Semi-Annual Performance Report Includes RMS and SISS Semi-Annual Monitoring Report, Period Ending June 30, 2026 (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Information | Presenter: Stephen McCourt and Allan Emkin,
Meketa Investment Group / Geraldine Jimenez and Puneet Kohli

Item 13b - Closed Session Semi-Annual Performance Reports - Receive Real Estate Consultant – Semi-Annual Performance Report, Period Ending March 31, 2026
(Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Information | Presenter: Ben Maslan and Taylor Mammen, RCLCO Fund Advisors (RFA)

Item 13c - Receive Private Equity Consultant – Semi-Annual Performance Report, Period Ending March 31, 2026 (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Information | Presenter: John Haggerty and Ryan Marie Decker, Meketa Investment Group

Item 14 - Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))

Session: Closed | Type: Information | Presenter: Geraldine Jimenez, Rosie Lucchesini-Jack, David Murphy, Shawn
Webster and Anthony Kennedy

Item 15 - 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 16 - Approval of Minutes of May 27, 2026, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)

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

September 24, 2026

Board Governance Committee - 9:00 a.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Attachment 01

Item 2 - Approval of the Minutes of the May 28, 2026, Board Governance Committee Meeting – Open Session

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

Item 02

Item 3 - Routine Policy Review - Succession Planning Policy – Second Reading

Session: Open | Type: Action | Presenter: Amy McDuffee, Mosaic Governance Advisors

Item 03Attachment 01Attachment 02

Item 4 - Revision to Board Operative Principles – Second Reading

Session: Open | Type: Action | Presenter: Amy McDuffee, Mosaic Governance Advisors

Item 04Attachment 01Attachment 02Attachment 03

Item 5 - General Counsel’s Governance Report

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

Itme 05

Item 6 - Board Governance Manual Modernization Initiative Planning

Session: Open | Type: Information | Presenter: Amy McDuffee, Mosaic Governance Advisors

Item 06Presentation 01

Item 7 - Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 8 - Draft Agenda for Next Committee Meeting

Session: Open | Type: Information | Presenter: Chairperson

Item 08

Item 9 - Opportunity for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson

Regular Meeting - 9:45 a.m. 

Item 4a - Approval of Minutes of the May 28, 2026, Regular Meeting – Closed Session (Gov. Code, sec. 11126)

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

Item 4b - Approval of Minutes of the July 21-23, 2026, Regular Meeting – Closed Session (Gov. Code, sec. 11126)

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

Item 5 - Committee Reports (Gov. Code, Sec. 11126)

  • Investment Committee
  • Appeals Committee

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

Item 6 - Investment Performance Impact on Incentive Pay for the 2025-2026 Plan Year (Gov. Code, sec. 11126)

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

Item 7 - Report on Cybersecurity (Gov. Code, sec. 11126 (c)(18)(A)

Session: Closed | Type: Information | Presenter: Dylan Pletcher

Item 8 - Chief Executive Officer Briefing on Performance and Personnel Issues (Gov. Code, sec. 11126(a), (b), (g))

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

Item 9 - 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 10 - Approval of Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 10Attachment 01aAttachment 01b

Item 11 - Chief Executive Officer Report

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

Item 11Attachment 01Presentation 01

Item 12 - State and Federal Legislation

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

Item 12Attachment 01Attachment 02Attachment 03

Item 13 - Board-Level AI Governance

Session: Open | Type: Information | Presenter: Cassandra Lichnock / Amy McDuffee, Mosaic / Dr. Param Singh, Carnegie Mellon University

Item 13Attachment 01Attachment 02Attachment 03Attachment 04Presentation 01

Item 14 - Proposed 2027-28 Operating Budget – First Reading

Session: Open | Type: Action | Presenter: Julie Underwood and Pritpal Bains

Item 14Attachment 01Attachment 02Presentation 01

Item 15 - Notice of Board Elections

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

Item 15Attachment 02

Item 16 - Initiate Rulemaking Process for Updates to the Administrative Remedy Regulations

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

Item 16Attachment 01

Item 17a - Committee Reports

  1. Investment Committee
  2. Appeals Committee
  3. Audits and Risk Management Committee
  4. Board Governance Committee
  5. Compensation Committee

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

Item 17b - Approval of Minutes of the May 28, 2026, Regular Meeting – Open Session

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

Item 17b

Item 17c - Approval of Minutes of the July 21-23, 2026, Regular Meeting – Open Session

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

Item 17c

Item 17d - Board Member Education

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

Item 17d

Item 17e - Contracts Requiring Board Approval

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

Item 17e

Item 17f - Appointment to the California Actuarial Advisory Panel

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

Item 17fAttachment 01

Item 18 - Items Referred by Committee for Board Decision

Session: Open | Type: Information | Presenter: Chairperson

Item 19 - New Business / Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 20 - Draft Agenda for Next Meeting

Session: Open | Type: Information | Presenter: Chairperson

Item 20

Item 21 - Opportunity for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson

Audits and Risk Management Committee - 1:30 p.m. 

Item 1 - Approval of Committee Agenda

Session: Open | Type: Action | Presenter: Chairperson

Item 01Attachment 01

Item 2 - Approval of Minutes of the March 5, 2026, Audits and Risk Management Committee – Open Session

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

Item 02

Item 3 - FY 2025-26 Enterprise Risk Management & Compliance Services Maturity Plan Closeout Report

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

Item 03Attachment 01Attachment 02

Item 4 - Audit Services FY 2025-26 Audit Plan Results

Session: Open | Type: Action | Presenter: Cheryl Cervantes Dietz, Chris Wall, and Marlene Noss

Item 04Attachment 01Attachment 02Attachment 03Attachment 04Attachment 05Attachment 06Presentation 01

Item 5 - External Quality Assessment Results

Session: Open | Type: Action | Presenter: Cheryl Cervantes Dietz

Item 05Attachment 01Attachment 02Attachment 03Presentation 01

Item 6 - Compliance and Ethics Hotline Report

Session: Open | Type: Information | Presenter: Lynn Bashaw and Meagan Dean

Item 06Presentation 01

Item 7 - Education Item: Governance of Artificial Intelligence Risk Across the Maturity Curve

Session: Open | Type: Information | Presenter: Dr. Peter Weill, MIT

Item 07Attachment 01

Item 8 - Enterprise Risk Reporting Refresh

Session: Open | Type: Information | Presenter: Lynn Bashaw

Item 08Presentation 01

Item 9 - Review of Information Requests

Session: Open | Type: Information | Presenter: Chairperson

Item 10 - Draft Agenda for the Next Committee Meeting

Session: Open | Type: Information | Presenter: Chairperson

Item 10

Item 11 - Opportunity for Statements from the Public

Session: Open | Type: Information | Presenter: Chairperson