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Calendar Year:
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.
November 01, 2017
Investment Committee  -  9:00 amDownload Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee Agenda OpenActionChairperson
2FY 17-18 Work Plan – Additional Project OpenActionChairperson
3Approval of Minutes of the July 12, 2017, Investment Committee Meeting – Open Session OpenConsent/ActionChairperson
4Selection of Real Estate Consultant OpenActionChairperson
5Private Equity Policy Revision – Second ReadingOpenActionMargot Wirth
6Corporate Governance Annual Engagement PlanOpenActionAnne Sheehan
7Chief Investment Officer’s Report – Open Session
OpenInformationalChristopher Ailman
8Investment Policy & Management Plan – Asset Allocation Target Revision – First ReadingOpenInformationalChristopher Ailman
9Infrastructure Policy Revision – First ReadingOpenInformationalPaul Shantic
10Corporate Governance Policy Revision – First ReadingOpenInformationalAnne Sheehan and Aeisha Mastagni
11Corporate Governance Proxy Voting Principles Revision – First ReadingOpenInformationalAnne Sheehan
12Receive General Consultant – Semi-Annual Performance Report, Period Ending June 30, 2017OpenInformationalAllan Emkin, Pension Consulting Alliance
13Receive Real Estate – Semi-Annual Performance Report, Period Ending March 31, 2017OpenInformationalMicolyn Magee, The Townsend Group
14Receive Private Equity – Semi-Annual Performance Report, Period Ending March 31, 2017OpenInformationalJohn Haggerty, Meketa
15Investment Committee Work-Plan Project – Co- Investments and Direct Investment OpportunitiesOpenInformationalInvestment Staff
16Annual Investment Cost Report for 2016OpenInformationalDebra M. Smith, April Wilcox, Shifat Hasan, and Raelan Lambert, Pavilion Alternatives Group, LLC
17Review of Information RequestsOpenInformationalChairperson
18Draft Agenda for the February 7, 2018, Investment Committee MeetingOpenInformationalChairperson
18aOpportunity for Statements from the PublicOpenInformationalChairperson
19Confer With and Receive Advice from Fiduciary Counsel and Investment Consultants (Gov. Code, sec. 11126(c)(16)) ClosedInformationalReed Smith, PCA, and Meketa
20Approval of Minutes of the July 12, 2017, Investment Committee Meeting – Closed Session (Gov. Code, sec. 11126) ClosedConsent/ActionChairperson
21Corporate Governance Annual Engagement Plan (Gov. Code, sec. 11126(c)(16)) ClosedActionAnne Sheehan, Aeisha Mastagni, and Brian Rice
22Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16)) ClosedInformationalInvestment Staff and Consultants
23Chief Investment Officer’s Report – Closed Session (Gov. Code, sec. 11126)ClosedInformationalChristopher Ailman
24Global Equity Transition Update (Gov. Code, sec. 11126(c)(16)) ClosedInformationalJune Kim
25Confer With and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e)) ClosedInformationalBrian J. Bartow
26Consideration of Investment Decisions – Chief Operating Investment Officer – Semi-Annual Report (Gov. Code, sec. 11126 (c) (16)) ClosedInformationalChairperson
27aClosed Session Semi-Annual Reports: Receive General Consultant – Semi-Annual Performance Report, Period Ending June 30, 2017 (Gov. Code, sec. 11126(c)(16)) ClosedInformationalAllan Emkin, Pension Consulting Alliance
27bClosed Session Semi-Annual Reports: Receive Real Estate – Semi-Annual Performance Report, Period Ending March 31, 2017 (Gov. Code, sec. 11126(c)(16))ClosedInformationalMicolyn Magee and Jennifer Young,The Townsend Group
27cClosed Session Semi-Annual Reports: Receive Private Equity – Semi-Annual Performance Report, Period Ending March 31, 2017 ClosedInformationalJohn Haggerty, Meketa Investment Group
27dClosed Session Semi-Annual Reports: Semi-Annual Report on Investment Manager Ratings (Gov. Code, sec. 11126(e)) ClosedInformationalInvestment Staff

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  -  2:00 pm (estimate)Download Meeting Items
ItemTitleSessionTypePresenter
1Client Advisory Committee AgendaOpenInformationalGrant Boyken / Andrew Roth

NOTE:  
Next meeting will be February 2018 during the week of the board meetings.
 
November 02, 2017
Appeals Committee  -  8:30 amDownload Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee AgendaOpenActionChairperson
2Approval of Minutes for the August 30, 2017, Appeals Committee – Open SessionOpenConsent/ActionChairperson
3Consideration of Proposed Administrative Decision: Ernest MorenoOpenActionScott Brooks
4Benefits and Services Executive Officer ReportOpenInformationalAndrew Roth
5Designating Precedential DecisionsOpenInformationalReina Minoya
6The Writ Process and BeyondOpenInformationalReina Minoya
7Review of Information RequestsOpenInformationalChairperson
7aOpportunity for Statements from the PublicOpenInformationalChairperson
8Approval of Minutes for the August 30, 2017 Appeals Committee Meeting – Closed Session (Gov. Code, sec. 11126)ClosedConsent/ActionChairperson
9Confer with Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))ClosedInformationalReina Minoya
10Deliberate on Proposed Administrative Decision: Ernest Moreno (Gov. Code, sec. 11126(c)(3))ClosedActionChairperson
11Announcement of Actions Taken on Proposed Administrative Decision: Ernest Moreno ClosedActionChairperson

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
 
Audits and Risk Management Committee  -  9:00 amDownload Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee Agenda OpenActionChairperson
2Approval of Minutes of the July 13, 2017 Audit and Risk Management Committee – Open SessionOpenConsent/ActionChairperson
3Annual Report of Benefit Payment Modifications Fiscal Year 2016-17OpenConsent/InformationChairperson
4aCalSTRS Independent Financial Statement Auditor Reports: Independent Auditor’s Report on CalSTRS Financial Statement for the Year Ended June 30, 2017OpenActionCrowe Horwath, LLP
4bCalSTRS Independent Financial Statement Auditor Reports: Report to Those Charged with GovernanceOpenActionCrowe Horwath, LLP
4cCalSTRS Independent Financial Statement Auditor Reports: Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other MattersOpenActionCrowe Horwath, LLP
5Management LetterOpenInformationalLarry Jensen / Robin Madsen
6Fiscal Year 2016-17 Audit Plan Year-End ResultOpenInformationalLarry Jensen/ Cheryl Dietz/ Mike Dutil
7Audit Services’ Annual Risk AssessmentOpenInformationalLarry Jensen
82018 Internal Audit PlanOpenActionLarry Jensen
9Scope and Structure of the Enterprise Compliance ProgramOpenInformationalDeena Mount
10Code of Ethics and Business ConductOpenActionDeena Mount
11Chief Auditor UpdateOpenInformationalLarry Jensen
12Review of Information RequestsOpenInformationalChairperson
13Draft Agenda for Next Committee MeetingOpenInformationalChairperson
14Opportunity 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.
 
Board Governance Committee  -  1:00 pm (estimate)Download Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee AgendaOpenActionChairperson
2Approval of Minutes of the June 8, 2017, Board Governance Committee Meeting – Open Session - REVISEDOpenConsent/ActionChairperson
3Board Education Forum - Board Oversight of Organizational CultureOpenInformationalBeverly Behan, Board Advisor, LLC
4Review of Consultant Evaluation Process and Potential Policy ComponentsOpenInformationalAmy McDuffee
5Review Draft Routine Reports and Actions of the Board PolicyOpenInformationalJill Lukins
6Review Scope of Charter and Proposed Revisions OpenInformationalBrian 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.
 
Compensation Committee  -  3:00 pm (estimate)Download Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee AgendaOpenActionChairperson
2Approval of Minutes of the July 13, 2017 Compensation Committee Meeting – Open Session OpenConsent/ActionChairperson
3Disclosure of Incentives for Statutory Positions for the 2016-17 Plan YearOpenConsent/InformationChairperson
4Technical Housekeeping/Evaluation of Global Equity Performance Benchmark - REVISEDOpenActionMelissa Norcia
5Comprehensive Incentive Plan Evaluation – Status UpdateOpenInformationalMelissa Norcia
6Review Information RequestsOpenInformationalChairperson
7Draft Agenda for the Next Committee MeetingOpenInformationalChairperson
8Opportunity 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.
 
Benefits and Services Committee  -  4:00 pm (estimate)Download Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee Agenda OpenActionChairperson
2Approval of Minutes of the July 13, 2017 Benefits and Services Committee Meeting – Open Session OpenConsent/ActionChairperson
3Member Education Service Delivery OverviewOpenInformationalAndrew Roth/ Sandy Blair
42017 Annual Member SurveyOpenInformationalAlisa Dobbins
5Executive Officer ReportOpenInformationalAndrew Roth
6Review of Information RequestsOpenInformationalChairperson
7Draft Agenda for the Next Committee MeetingOpenInformationalChairperson
7aOpportunity 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.
 
November 03, 2017
Regular Meeting  -  8:30 amDownload Meeting Items
ItemTitleSessionTypePresenter
1Approval of Board Agenda OpenActionChairperson
2Review of CalSTRS Funding Levels and RisksOpenInformationalRick Reed/David Lamoureux
3Charter School ProjectOpenInformationalDavid Lamoureux
4Financially Distressed Employer Contribution CollectionOpenInformationalRobin Madsen
5aPension Solution Project ReviewOpenInformationalAshish Jain/Andrew Roth
5bPension Solution Project Risk Oversight Report OpenInformationalGraeme Finley, Grant Thornton LLP
5cPension Solution Project Independent Verification & Validation (IV&V) UpdateOpenInformationalJon Lemelin, MAXIMUS
6Long Term Facilities Plan Project Update OpenInformationalLisa Blatnick/ Gisele Geiger
7Adoption of Proposed 2018-19 Operating BudgetOpenActionRobin Madsen
8Consideration of Board-Sponsored LegislationOpenActionGrant Boyken/ Joycelyn Martinez -Wade
9Chief Executive Officer Report OpenInformationalJack Ehnes
10Enterprise Contract ProvisionsOpenInformationalLamont King
11State and Federal Legislative UpdateOpenConsent/InformationChairperson
12aCommittee Reports: 1) Investment Committee 2) Appeals Committee 3) Audits and Risk Management Committee 4) Benefits and Services Committee 5) Board Governance 6) Compensation Committee OpenConsent/ActionChairperson
12bApproval of Minutes of the July 13-14, 2017, Regular Meeting – Open Session - REVISEDOpenConsent/ActionChairperson
12cBoard Member Education - REVISEDOpenConsent/ActionChairperson
12dCEO DelegationOpenConsent/ActionChairperson
12eContracts Requiring Board ApprovalOpenConsent/ActionChairperson
12fEnterprise Risk Management ReportOpenConsent/ActionChairperson
12gFiscal Year 2017-18 Budget – Augmentation Request for Teachers’ Health Benefit Fund and Teachers’ Deferred Compensation FundOpenConsent/ActionChairperson
12hApproval of Annual Incentive of Chief Executive OfficerOpenConsent/ActionChairperson
12iApproval of Annual Incentive of Chief Investment OfficerOpenConsent/ActionChairperson
13Items Referred by Committee for Board DecisionOpenInformationalChairperson
14New Business / Review Information RequestsOpenInformationalChairperson
15Draft Agenda for the Next Board MeetingOpenInformationalChairperson
15aOpportunity for Statements from the PublicOpenInformationalChairperson
16Approval of Minutes of the July 14, 2017 Regular Meeting - Closed Session (Gov. Code, sec. 11126) - REVISED ClosedConsent/ActionChairperson
17Committee Reports (Gov. Code, sec. 11126) a. Investment Committee b. Appeals Committee ClosedConsent/InformationChairperson
18Report on Cybersecurity (Gov. Code, sec. 11126 (c)(18)(A)) ClosedInformationalScott Tirapelle
19Board Self-Evaluation (Gov. Code, sec. 11126(a))ClosedInformationalAmy McDuffee
20Confer With and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e)) ClosedInformationalBrian J. Bartow
21Chief 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.
 
PowerPoint Presentations  Download Meeting Items
ItemTitleSessionTypePresenter
1Investment Committee - Item #5 Private Equity Policy Revision – Second ReadingOpenInformationalMargot Wirth
2Investment Committee - Item #7 Chief Investment Officer’s Report – Open SessionOpenInformationalChristopher Ailman
3aInvestment Committee - Item #13 Receive Real Estate – Semi-Annual Performance Report, Period Ending March 31, 2017OpenInformationalMicolyn Magee, The Townsend Group
3bInvestment Committee - Item #14 Receive Private Equity – Semi-Annual Performance Report, Period Ending March 31, 2017OpenInformationalJohn Haggerty, Meketa
4Investment Committee - Item #15 Investment Committee Work-Plan Project – Co- Investments and Direct Investment OpportunitiesOpenInformationalInvestment Staff
4aInvestment Committee - Item #15 Investment Committee Work-Plan Project – Co- Investments and Direct Investment Opportunities - VIDEO LINKSOpenInformationalInvestment Staff
5Investment Committee - Item #16 Annual Investment Cost Report for 2016OpenInformationalDebra Smith, April Wilcox, Shifat Hasan, and Raelan Lambert, Pavilion Alternatives Group LLC
9Appeals Committee - Item #5 Designating Precedential DecisionsOpenInformationalReina Minoya
10Appeals Committee - Item #6 The Writ Process and BeyondOpenInformationalReina Minoya
11Audits and Risk Management Committee - Item #4 CalSTRS Independent Financial Statement Auditor Reports:
a. Independent Auditor’s Report on CalSTRS Financial Statement for the Year Ended June 30, 2017
b. Report to Those Charged with Governance
c. Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters
OpenInformationalCrowe Horwath, LLP
12Audits and Risk Management Committee - Item #6 Fiscal Year 2016-17 Audit Plan Year-End ResultOpenInformationalLarry Jensen/ Cheryl Dietz/ Mike Dutil
13Audits and Risk Management Committee - Item #9 Scope and Structure of the Enterprise Compliance ProgramOpenInformationalDeena Mount
14Board Governance Committee - item #3 Board Education Forum - Board Oversight of Organizational CultureOpenInformationalBeverly Behan, Board Advisor, LLC
15Benefits and Services Committee - item #3 Member Education Service Delivery OverviewOpenInformationalAndrew Roth/ Sandy Blair
16Benefits and Services Committee - Item #4 2017 Annual Member SurveyOpenInformationalAlisa Dobbins
17Regular Meeting - Item #2 Review of CalSTRS Funding Levels and RisksOpenInformationalRick Reed/David Lamoureux
18Regular Meeting - Item #3 Charter School ProjectOpenInformationalDavid Lamoureux
19Regular Meeting - Item #4 Financially Distressed Employer Contribution CollectionsOpenInformationalRobin Madsen
20Regular Meeting - Item #5a Pension Solution Project ReviewOpenInformationalAshish Jain/Andrew Roth
21Regular Meeting - Item #5b Pension Solution Project Risk Oversight Report OpenInformationalGraeme Finley, Grant Thornton LLP
22Regular Meeting - Item #5cOpenInformationalJon Lemelin, MAXIMUS
23Regular Meeting - Item #6 Long Term Facilities Plan Project Update OpenInformationalLisa Blatnick/ Gisele Geiger
24Regular Meeting - Item #7 Adoption of Proposed 2018-19 Operating Budget OpenInformationalRobin Madsen

NOTE: