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Meeting Agenda:   
Unless otherwise specified, meetings will be held at the following location:
CalSTRS, 100 Waterfront Place, West Sacramento, CA.
First Floor Board Room
    *** Public Meeting Notice ***
All meeting times are approximate depending upon the end of the previous meeting.
Board Meeting Video Archive
Beginning December 2010, video of past board meetings are available in the Teachers’ Retirement Board Video Archive.
April 05, 2017
Audits and Risk Management Committee  -  8:45 amDownload Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee Agenda OpenActionChairperson
2Approval of Minutes of the November 16, 2016 Audit and Risk Management Committee – Open SessionOpenConsent/ActionChairperson
3Progress on Independent Financial Statement Auditor’s Management LetterOpenConsent/InformationLarry Jensen
4Selection and Approval of Independent Financial Statement AuditorOpenActionLarry Jensen
5Fiscal Year 2016-17 Internal Audit Plan – Progress ReportOpenInformationalCheryl Dietz / Mike Dutil
6Fiscal Year 2016-17 Financial Statement Audit PlanOpenInformationalCrowe Horwath LLP
7Fiscal Year 2017-18 Work Plan InputOpenInformationalLarry Jensen/ Robin Madsen/ Brian Bartow
8Chief Auditor Update OpenInformationalLarry Jensen
9Review of Information RequestsOpenInformationalChairperson
10Draft Agenda for Next Committee MeetingOpenInformationalChairperson
11Opportunity for Statements from the PublicOpenInformationalChairperson

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 participate in the discussion of agenda items.
 
Investment Committee  -  12:15 pm (estimate)Download Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee AgendaOpenActionChairperson
2Approval of Minutes of the November 16, 2016 Investment Committee Meeting – Closed Session (Gov. Code, sec. 11126)ClosedConsent/ActionChairperson
3Confer With and Receive Advice from Fiduciary Counsel and Investment Consultants (Gov. Code, sec. 11126(c)(16))ClosedInformationalHarvey Leiderman, PCA and Meketa
4Approval of Minutes of the November 16, 2016, Investment Committee Meeting – Open SessionOpenConsent/ActionChairperson
5Corporate Governance Annual ReportOpenConsent/InformationChairperson
6Investment Beliefs – Final RevisionOpenActionAllan Emkin, PCA
7Chief Investment Officer’s Report – Open SessionOpenInformationalChristopher Ailman
8Receive General Consultant – Semi-Annual Performance Report, Period Ending December 31, 2016OpenInformationalAllan Emkin, PCA
9Receive Real Estate – Semi-Annual Performance Report, Period Ending September 30, 2016OpenInformationalMicolyn Magee, The Townsend Group
10Receive Private Equity – Semi-Annual Performance Report, Period Ending September 30, 2016OpenInformationalJohn Haggerty, Meketa Investment Group
11Private Equity Policy Revision – First ReadingOpenInformationalMargot Wirth
12ESG / 21 Risk Factors Policy Rewrite – First ReadingOpenInformationalAnne Sheehan
13Asset Class Policy Revisions to Include New APM Delegation Limits and New Investment Reporting
Cycle
OpenInformationalMichelle Cunningham
14Fiscal Year 2017–18 Work Plan DiscussionOpenInformationalChristopher Ailman
15Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))ClosedInformationalInvestment Staff and Consultants
16Chief Investment Officer’s Report – Closed Session (Gov. Code, sec. 11126)ClosedInformationalChristopher Ailman
17RMS Implementation Update (Gov. Code, sec. 11126(c)(16))ClosedInformationalSteven Tong and Carrie Lo
18aReceive General Consultant – Semi-Annual Performance Report, Period Ending December 31, 2016 (Gov. Code, sec. 11126(c)(16))ClosedInformationalAllan Emkin, PCA
18bReceive Real Estate – Semi-Annual Performance Report, Period Ending September 30, 2016 (Gov. Code, sec. 11126(c)(16))ClosedInformationalMicolyn Magee, The Townsend Group
18cReceive Private Equity – Semi-Annual Performance Report, Period Ending September 30, 2016 (Gov. Code, sec. 11126(c)(16))ClosedInformationalJohn Haggerty and Steve McCourt, Meketa Investment Group
18dSemi-annual Report on Investment Manager Ratings (Gov. Code, sec. 11126)ClosedInformationalRaymond Venner
19Confer With and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))ClosedInformationalBrian J. Bartow
20Consideration of Investment Decisions – Chief Operating Investment Officer – Semi-Annual Report (Gov. Code, sec. 11126 (c) (16))ClosedInformationalChairperson
21Review of Information RequestsOpenInformationalChairperson
22Draft Agenda for the June 7, 2017, Investment Committee MeetingOpenInformationalChairperson
22aOpportunity for Statements from the PublicOpenInformationalChairperson

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 participate in the discussion of agenda items.
 
Client Advisory Committee  -  3:15 pm (estimate)
Meeting location:
American River Conference Room
Download Meeting Items
ItemTitleSessionTypePresenter
1Client Advisory Committee AgendaOpenInformationalGrant Boyken

NOTE:  
Next meeting will be June 7, 2017 during the week of board meetings.
 
April 06, 2017
Compensation Committee  -  8:30 amDownload Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee Agenda / Work PlanOpenActionChairperson
2Approval of Minutes of the November 16, 2016 Compensation Committee Meeting – Open Session OpenConsent/ActionChairperson
3Report and Recommendations from Labor Market Compensation Analysis for Statutory PositionsOpenActionMelissa Norcia/Michael Oak, McLagan Partners/Axay Patel, Aon Hewitt
4Evaluation of RMS Milestones to Assess Quantitative/Qualitative WeightingsOpenInformationalMelissa Norcia/ Meketa
5Discussion of Possible Compensation Topics for
FY 17-18
OpenInformationalMelissa Norcia/PCA/Meketa/Global Governance Advisors
6Fiscal Year 2017-18 Work Plan InputOpenInformationalMelissa Norcia
7Review Information RequestsOpenInformationalChairperson
8Draft Agenda for the Next CommitteeOpenInformationalChairperson
9Opportunity for Additional Statements from the PublicOpenInformationalChairperson

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 participate in the discussion of agenda items.
 
Regular Meeting  -  10:45 amDownload Meeting Items
ItemTitleSessionTypePresenter
1Approval of Board Agenda OpenActionChairperson
2Annual Board Chair and Vice-Chair Elections and Committee Composition for FY 2017-18OpenActionChairperson
3Adopt 2017-18 Board Meeting CalendarOpenActionChairperson
4State Legislative Outlook PanelOpenInformationalGrant Boyken, Amy Brown, Thad Kousser, and Mindy Romero
5aAdoption of June 30, 2016: Valuation of the Defined Benefit Program
OpenActionRick Reed and David Lamoureux, Nick Collier, Milliman
5bAdoption of June 30, 2016: Valuation of the Defined Benefit Supplement Program OpenActionRick Reed and David Lamoureux, Nick Collier, Milliman
5cAdoption of June 30, 2016: Valuation of the Cash Balance Benefit Program OpenActionRick Reed and David Lamoureux, Nick Collier, Milliman
5dAdoption of June 30, 2016: Valuation of the Medicare Premium Payment ProgramOpenActionRick Reed and David Lamoureux, Nick Collier, Milliman
6Adoption of Contribution Rates, Interest Rates, and Death Benefits for Fiscal Year 2017-18OpenActionRick Reed and David Lamoureux
7Assumptions Related to GASB Statement No. 67 and No. 74
OpenActionRick Reed and David Lamoureux
8Review and Replication of June 30, 2015 Actuarial ValuationsOpenInformationalRick Reed and David Lamoureux
9Review of ESG Engagement PracticesOpenInformationalAnne Sheehan
10State and Federal Legislation - REVISEDOpenActionJoycelyn Martinez-Wade
11Creditable Compensation Regulations AmendmentsOpenActionGrant Boyken
12Procurement Governance for Pension Solution ProjectOpenActionLisa Blatnick
13aCommittee Reports: 1) Investment Committee 2) Audits and Risk Management Committee 3) Compensation Committee OpenConsent/ActionChairperson
13bApproval of Minutes of the November 16-17, 2016 and February 1-2, 2017, Regular Meeting – Open SessionOpenConsent/ActionChairperson
13cBoard Member Education - REVISEDOpenConsent/ActionChairperson
13dContracts Requiring Board ApprovalOpenConsent/ActionChairperson

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.
 
April 07, 2017
Regular Meeting (continued)  -  8:30 am (estimate)Download Meeting Items
ItemTitleSessionTypePresenter
14Chief Executive Officer Report OpenInformationalJack Ehnes
15Enterprise Risk Management ReportOpenInformationalRobin Madsen
16aProject Risk Oversight ReportOpenInformationalGraeme Finley, Grant Thornton LLP
16bPension Solution Project Independent Verification & Validation (IV&V) UpdateOpenInformationalJon Lemelin, MAXIMUS
17Education Overview of Form 700OpenInformationalJill Lukins
18Items Referred by Committee for Board DecisionOpenInformationalChairperson
19New Business / Review Information RequestsOpenInformationalChairperson
20Draft Agenda for the Next Committee MeetingOpenInformationalChairperson
20aOpportunity for Statements from the PublicOpenInformationalChairperson
21Approval of Minutes of the November 17, 2016 and February 2, 2017 Regular Meeting - Closed Session (Gov. Code, sec. 11126) ClosedConsent/ActionChairperson
22aCommittee Reports (Gov. Code, sec. 11126): Investment Committee ClosedConsent/InformationChairperson
23Report on Cybersecurity (Gov. Code, sec. 11126 (c)(18)(A)) ClosedInformationalScott Tirapelle
24Confer With and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e)) ClosedInformationalBrian J. Bartow/ Reina Minoya
25Chief Executive Officer Briefing on Performance and Personnel Issues (Gov. Code, sec. 11126(a), (b), (g)) ClosedInformationalJack Ehnes

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.
 
Board Governance Committee  -  10:30 am (estimate)Download Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee Agenda / Work PlanOpenActionChairperson
2Approval of Minutes of the November 17, 2016, Board Governance Committee Meeting – Open SessionOpenConsent/ActionChairperson
3Compliance and Board Decision MakingOpenInformationalGrace Crickette, SFSU
4Organization of Reports to the Board (Update)OpenInformationalJill Lukins
5Board Accountability and ComplianceOpenInformationalBrian J. Bartow / Jill Lukins
6Fiscal Year 2017-18 Work Plan InputOpenInformationalBrian J. Bartow
7Review of Information RequestsOpenInformationalChairperson
8Draft Agenda for the Next Committee MeetingOpenInformationalChairperson
8aOpportunity for Statements from the PublicOpenInformationalChairperson

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 participate in the discussion of agenda items.
 
Benefits and Services Committee  -  12:45 pmDownload Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee Agenda OpenActionChairperson
2Routine ReportsOpenActionAndrew Roth
3Approval of Minutes of the September 14, 2016 Benefits and Services Committee Meeting – Open Session OpenConsent/ActionChairperson
4The Changing Landscape of an Aging SocietyOpenInformationalAlisa Dobbins/ Tom Buffalo
5Triennial Health Benefits StudyOpenInformationalAlisa Dobbins
6Disability Determination ProcessOpenInformationalAndrew Roth
7Revision to Tolerance Level OpenInformationalAndrew Roth
8Fiscal Year 2017-18 Work Plan InputOpenInformationalAndrew Roth
9Executive Officer ReportOpenInformationalAndrew Roth
10Review of Information RequestsOpenInformationalChairperson
11Draft Agenda for the Next Committee MeetingOpenInformationalChairperson
11aOpportunity for Statements from the PublicOpenInformationalChairperson

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 participate in the discussion of agenda items.
 
PowerPoint Presentations  Download Meeting Items
ItemTitleSessionTypePresenter
1Audits and Risk Management Committee - Item #4 Selection and Approval of Independent Financial Statement AuditorOpenInformationalLarry Jensen
2Audits and Risk Management Committee - Item #4 Selection and Approval of Independent Financial Statement AuditorOpenInformationalLarry Jensen
3Audits and Risk Management Committee - Item #6 Fiscal Year 2016-17 Financial Statement Audit PlanOpenInformationalCrowe Horwath LLP
4Investment Committee - Item #6 Investment Beliefs – Final RevisionOpenInformationalAllan Emkin
5Investment Committee - Item #7 Chief Investment Officer’s Report – Open SessionOpenInformationalChristopher Ailman
6Investment Committee - Item #9 Receive Real Estate – Semi-Annual Performance
Report, Period Ending September 30, 2016
OpenInformationalMicolyn Magee, The Townsend Group
7Investment Committee - Item #10 Receive Private Equity – Semi-Annual Performance
Report, Period Ending September 30, 2016
OpenInformationalJohn Haggerty
8Investment Committee - Item #11 Private Equity Policy Revision – First ReadingOpenInformationalMargot Wirth
15Regular Meeting - Item #4 State Legislative Outlook PanelOpenInformationalGrant Boyken, Amy Brown, Thad Kousser, and Mindy Romero
16Regular Meeting - Item #4 State Legislative Outlook PanelOpenInformationalGrant Boyken, Amy Brown, Thad Kousser, and Mindy Romero
17Regular Meeting - Item #4 State Legislative Outlook PanelOpenInformationalGrant Boyken, Amy Brown, Thad Kousser, and Mindy Romero
18Regular Meeting - Item #5a Adoption of June 30, 2016 Valuation of the Defined Benefit ProgramOpenInformationalRick Reed and David Lamoureux/ Nick Collier, Milliman
19Regular Meeting - Item #5a Adoption of June 30, 2016 Valuation of the Defined Benefit ProgramOpenInformationalRick Reed and David Lamoureux/ Nick Collier, Milliman
20Regular Meeting - Item #9 Review of ESG Engagement PracticesOpenInformationalAnne Sheehan
21Regular Meeting - Item #14 Chief Executive Officer ReportOpenInformationalJack Ehnes
22Regular Meeting - Item #16 Project Risk Oversight ReportOpenInformationalGraeme Finley, Grant Thornton LLP
23Regular Meeting - Item #16b Pension Solution Project Independent Verification &
Validation (IV&V) Update
OpenInformationalJon Lemelin, MAXIMUS
24Benefits and Services Committee - Item #4 The Changing Landscape of an Aging SocietyOpenInformationalAlisa Dobbins / Tom Buffalo
25Benefits and Services Committee - Item #5 Triennial Health Benefits StudyOpenInformationalAlisa Dobbins
26Benefits and Services Committee - Item #6 Disability Determination ProcessOpenInformationalAndrew Roth

NOTE: