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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.
March 27, 2019
Compensation Committee  -  8:30 amDownload Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee Agenda OpenActionChairperson
2Approval of Minutes of the November 7, 2018 Compensation Committee Meeting – Open Session OpenConsent/ActionChairperson
3Compensation Strategies for CEO and CIO TransitionOpenInformationalMelissa Norcia/ Amy McDuffee, Mosaic Governance Advisors / Luis Navas, GGA
4Updates to CEO and CIO Position DescriptionsOpenInformationalMelissa Norcia/ Amy McDuffee, Mosaic Governance Advisors
5Review Information RequestsOpenInformationalChairperson
6Draft Agenda for the Next CommitteeOpenInformationalChairperson
7Opportunity 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  -  9:45 am (estimate)Download Meeting Items
ItemTitleSessionTypePresenter
1Approval of Board Agenda OpenActionChairperson
2Proposed Revisions to Board CalendarOpenActionJack Ehnes
3Strategic Plan 2019-22OpenActionJan Spano/ Amy McDuffee, Mosaic Governance Advisors
4State and Federal LegislationOpenActionGrant Boyken / Joycelyn Martinez-Wade
5Bond Financing Update and EducationOpenInformationalJulie Underwood/ Mike Kremer, Montague DeRose & Associates, LLC / Kevin Civale, Stradling Yocca Car
6Pension Solution UpdateOpenInformationalAshish Jain/Andrew Roth/Graeme Finley, Grant Thornton LLP
7Chief Executive Officer Report OpenInformationalJack Ehnes
8aCommittee 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
8bApproval of Minutes of the January 31, 2019, Regular Meeting – Open SessionOpenConsent/ActionChairperson
8cBoard Member Education - RevisedOpenConsent/ActionChairperson
8dContracts Requiring Board ApprovalOpenConsent/ActionChairperson
9Items Referred by Committee for Board DecisionOpenInformationalChairperson
10New Business / Review Information RequestsOpenInformationalChairperson
11Draft Agenda for the Next Board MeetingOpenInformationalChairperson
12Opportunity for Statements from the PublicOpenInformationalChairperson
13Approval of Minutes of the January 31, 2019, Regular Meeting - Closed Session (Gov. Code, sec. 11126) ClosedConsent/ActionChairperson
14Committee Reports (Gov. Code, sec. 11126) a. Investment Committee b. Appeals Committee ClosedConsent/InformationChairperson
15Confer With and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e)) ClosedInformationalBrian J. Bartow/ Reina Minoya
16Chief Executive Officer Briefing on Performance and Personnel Issues (Gov. Code, sec. 11126(a), (b), (g)) ClosedInformationalJack Ehnes
17Board Self-Evaluation (Gov. Code, sec. 11126(a))ClosedInformationalDana Dillon Amy McDuffee, Mosaic Governance Advisors

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.
 
Audits and Risk Management Committee  -  4:00 pm (estimate)
Meeting location:
This meeting may be continued into Thursday, March 28, 2019 commencing at 8:30 a.m.
Download Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee Agenda OpenActionChairperson
2Approval of Minutes of the November 8, 2018 Audits and Risk Management Committee – Open SessionOpenConsent/ActionChairperson
3Progress Report on Independent Financial Statement Auditor’s Management LetterOpenConsent/InformationLarry Jensen
4FY 2019-20 Financial Statement Audit PlanOpenInformationalCrowe LLP
5Enterprise Compliance Risk Assessment ResultsOpenInformationalDeena Mount / Larry Jensen / Grant Thornton
62019 Enterprise Compliance Services PlanOpenInformationalDeena Mount / Larry Jensen
72018 Internal Audit Plan ResultsOpenInformationalCheryl Dietz / Mike Dutil
8Chief Auditor UpdateOpenInformationalLarry Jensen
9Compliance Director UpdateOpenInformationalDeena Mount
10Review of Information RequestsOpenInformationalChairperson
11Draft Agenda for Next Committee MeetingOpenInformationalChairperson
12Opportunity 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.
 
March 28, 2019
Investment Committee  -  9:00 am (estimate)Download Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee Agenda and Work PlanOpenActionChairperson
2Approval of Minutes of the January 30, 2019, Investment Committee – Open SessionOpenConsent/ActionChairperson
3aInvestment Policy & Management Plan RevisionOpenActionChristopher J. Ailman
3bFixed Income Policy RevisionOpenActionGlenn Hosokawa
3cCurrency Management Program Policy RevisionOpenActionGlenn Hosokawa
3dSecurities Lending Program Policy RevisionOpenActionGlenn Hosokawa
4Chief Investment Officer Report – Open SessionOpenInformationalChristopher Ailman
5Benchmark and Risk Budget Education – Part TwoOpenInformationalScott Chan and June Kim
62019 Asset Liability Study – Asset Allocation Step TwoOpenInformationalALM Team
7Sustainable Investment and Stewardship Strategies ReportOpenInformationalKirsty Jenkinson
8Green Initiative ReportOpenInformationalBrian Rice & Travis Antoniono
9aReceive General Consultant – Semi-Annual Performance Report, Period Ending December 31, 2018OpenInformationalAllan Emkin, Pension Consulting Alliance
9bReceive Real Estate – Semi-Annual Performance Report, Period Ending September 30, 2018OpenInformationalBen Maslan and Gadi Kaufmann, Robert Charles Lesser & Co. (RCLCO)
9cReceive Private Equity – Semi-Annual Performance Report, Period Ending September 30, 2018OpenInformationalJohn Haggerty & Steve Hartt, Meketa Investment Group
10Review of Information RequestsOpenInformationalChairperson
11Draft Agenda for the May 8, 2019, Investment Committee MeetingOpenInformationalChairperson
12Opportunity for Statements from the PublicOpenInformationalChairperson
13Confer with and Receive Advice from Fiduciary Counsel and Investment Consultants (Gov. Code, sec. 11126(c)(16)) ClosedInformationalReed Smith, PCA, and Meketa
14Approval of Minutes of the January 30, 2019, Investment Committee – Closed Session (Gov. Code, sec. 11126)ClosedConsent/InformationChairperson
15Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))ClosedInformationalInvestment Staff and Consultants
16Risk Mitigating Strategies Implementation Update (Gov. Code, sec. 11126(c)(16))ClosedInformationalSteven Tong and Jeffrey Jaro
17Confer With and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))ClosedInformationalBrian J. Bartow
18aReceive General Consultant – Semi-Annual Performance Report, Period Ending December 31, 2018 (Gov. Code, sec. 11126(c)(16))ClosedInformationalAllan Emkin, Pension Consulting Alliance
18bReceive Real Estate – Semi-Annual Performance Report, Period Ending September 30, 2018 (Gov. Code, sec. 11126(c)(16))ClosedInformationalBen Maslan and Gadi Kaufmann, Robert Charles Lesser & Co. (RCLCO)
18cReceive Private Equity – Semi-Annual Performance Report, Period Ending September 30, 2018 (Gov. Code sec. 11126(c)(16))ClosedInformationalJohn Haggerty & Steve Hartt, Meketa Investment Group
18dSemi-Annual Report on Investment Manager Ratings (Gov. Code, sec. 11126(e))ClosedInformationalInvestment Staff
19Consideration of Investment Decisions (Gov. Code, sec. 11126 (c) (16))ClosedInformationalChairperson

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.
 
March 29, 2019
Investment Committee (Continued)  -  8:30 am
Meeting location:
Truckee River Room and Yosemite River Room
Download Meeting Items
ItemTitleSessionTypePresenter
20General Investment Consultant Finalist InterviewsOpenActionChristopher Ailman

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.
 
Appeals Committee  -  1:30 pm (estimate)Download Meeting Items
ItemTitleSessionTypePresenter
1Approval of Committee AgendaOpenActionChairperson
2Approval of Minutes for the January 31, 2019, Appeals Committee – Open SessionOpenConsent/ActionChairperson
3aConsideration of Proposed Administrative Decision: Walnut Creek School DistrictOpenActionBraden Pate
3bConsideration of Proposed Administrative Decision: San Ramon Valley Unified School DistrictOpenActionBraden Pate
4aRecommendation for Designation of Precedential Decision: Stanislaus County Office of EducationOpenActionReina G. Minoya
5Staff ReportOpenInformationalAndrew Roth/Reina G. Minoya
6Review of Information RequestsOpenInformationalChairperson
7Opportunity for Statements from the PublicOpenInformationalChairperson
8Approval of Minutes for the January 31, 2019, Appeals Committee – Closed Session (Gov. Code, sec. 11126)ClosedConsent/ActionChairperson
9Confer with Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))ClosedInformationalReina G. Minoya
10aDeliberate on Proposed Administrative Decision: Walnut Creek School District (Gov. Code, sec. 11126(c)(3))ClosedActionChairperson
10bDeliberate on Proposed Administrative Decision: San Ramon Valley Unified School District (Gov. Code, sec. 11126(c)(3))ClosedActionChairperson
11aAnnouncement of Action Taken on Proposed Administrative Decision: Walnut Creek School DistrictOpenActionChairperson
11bAnnouncement of Action Taken on Proposed Administrative Decision: San Ramon Valley Unified School DistrictOpenActionChairperson

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.
 
PowerPoint Presentations  Download Meeting Items
ItemTitleSessionTypePresenter
1Compensation Committee - Item #3 Compensation Strategies for CEO and CIO TransitionOpenInformationalMelissa Norcia / Amy McDuffee, Mosaic Governance Advisors / Luis Navas, GGA
2Regular Meeting - Item #5 Bond Financing Update and EducationOpenInformationalJulie Underwood/Mike Kremer, Montague DeRose&Assoc. LLC/Kevin Civale, Stradling Yocca Carlson&Rauth
3Regular Meeting - Item #5 Bond Financing Update and EducationOpenInformationalJulie Underwood/Mike Kremer, Montague DeRose&Assoc. LLC/Kevin Civale, Stradling Yocca Carlson&Rauth
4Regular Meeting - Item #6 Pension Solution UpdateOpenInformationalAshish Jain/Andrew Roth/Graeme Finley, Grant Thornton LLP
5Regular Meeting - Item #6 Pension Solution UpdateOpenInformationalAshish Jain/Andrew Roth/Graeme Finley, Grant Thornton LLP
6Audits and Risk Management Committee - Item #4 FY 2019-20 Financial Statement Audit PlanOpenInformationalCrowe LLP
7Audits and Risk Management Committee - Item #5 Compliance Risk Assessment ResultsOpenInformationalDeena Mount/Larry Jensen/Grant Thornton LLP
8Audits and Risk Management Committee - Item #6 2019 Enterprise Compliance Services PlanOpenInformationalDeena Mount / Larry Jensen
9Investment Committee - Item #4 Chief Investment Officer ReportOpenInformationalChristopher Ailman
10Investment Committee - Item #5 Benchmark and Risk Budget Education – Part TwoOpenInformationalScott Chan / June Kim
11Investment Committee - Item #6 2019 Asset Liability Study – Asset Allocation Step TwoOpenInformationalALM Team
12Investment Committee - Item #7 Sustainable Investment and Stewardship Strategies ReportOpenInformationalKirsty Jenkinson
13Investment Committee - Item #8 Green Initiative ReportOpenInformationalBrian Rice / Travis Antoniono
14Investment Committee - Item #9b Receive Real Estate – Semi-Annual Performance Report, Period Ending September 30, 2018OpenInformationalBen Maslan and Gadi Kaufmann, Robert Charles Lesser & Co.
15Investment Committee - Item #9c Receive Private Equity – Semi-Annual Performance Report, Period Ending September 30, 2018OpenInformationalJohn Haggerty and Steve Hartt, Meketa Investment Group

NOTE: