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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 06, 2019
Investment Committee  -  12:30 pmDownload Meeting Items
ItemTitleSessionTypePresenter
0There will be a public comment period at the end of each agenda item. The time allotment and other terms are subject to change and are at the discretion of the Committee ChairOpenActionChairperson
1Approval of Committee AgendaOpenActionChairperson
2Approval of Minutes of the September 5, 2019,
Investment Committee Meeting – Open Session - Revised
OpenConsent/ActionChairperson
32019 Asset Liability Study - Asset Allocation Step SixOpenActionALM Team
4Sustainable Investment & Stewardship Strategies –
Framework for Engagement
OpenInformationalKirsty Jenkinson and Aeisha Mastagni
5Global Equity – Active Risk Budget OverviewOpenInformationalJune Kim and Consultants
6Annual Investment Cost ReportOpenInformationalDebra Smith and Investment Staff
7Education: Application of ESG PolicyOpenInformationalChristopher Ailman
8Risk Mitigating Strategies ReportOpenInformationalSteven Tong and Jeff Jaro
9Chief Investment Officer’s Report – Open SessionOpenInformationalChristopher Ailman
10Review of Information RequestsOpenInformationalChairperson
11Draft Agenda for the Next Committee MeetingOpenInformationalChairperson
12Opportunities for Statements from the PublicOpenInformationalChairperson
13Approval of Minutes of the September 5, 2019, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)ClosedConsent/ActionChairperson
14Confer with and Receive Advice from Fiduciary Counsel and Investment Consultants (Gov. Code, sec 11126(c)(16))ClosedInformationalReed Smith and Meketa
15Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))ClosedInformationalInvestment Staff and Consultants
16Risk Mitigating Strategy Discussion (Gov. Code, sec 11126(c)(16))ClosedInformationalSteven Tong, Jeff Jaro and Consultants
17Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))ClosedInformationalBrian J. Bartow
18Consideration of Investment Decisions – Chief Operating Investment Officer – Semi-Annual Report (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 observe, but may not participate in the discussion of agenda items.
 
Client Advisory Committee  -  3:45 pm (estimate)
Meeting location:
American River Room
Download Meeting Items
ItemTitleSessionTypePresenter
1Client Advisory Committee AgendaOpenInformationalGrant Boyken
 
November 07, 2019
Audits and Risk Management Committee  -  8:30 amDownload Meeting Items
ItemTitleSessionTypePresenter
0There will be a public comment period at the end of each agenda item. The time allotment and other terms are subject to change and are at the discretion of the Committee ChairOpenActionChairperson
1Approval of Committee AgendaOpenActionChairperson
2Approval of Minutes of the July 11, 2019, Audit and
Risk Management Committee – Open Session
OpenConsent/ActionChairperson
3Annual Report of Benefit Payment Modifications for
FY 2018-19
OpenConsent/InformationChairperson
4aCalSTRS Independent Financial Statement Auditor
Reports for the Year Ended June 30, 2019 - Basic Financial Statements, Required
Supplementary Information, and Other
Supplementary Information for the Year
Ended June 30, 2019
OpenActionCrowe LLP
4bCalSTRS Independent Financial Statement Auditor
Reports for the Year Ended June 30, 2019 - Other Pension Information – State Teacher’s
Retirement Plan for the Year Ended June 30,
2019; and Other Postemployment Benefits Information - Medicare Premium Payment Program for the Year Ended June 30, 2019
OpenActionCrowe LLP
52019 Management LetterOpenInformationalLarry Jensen/Julie Underwood
62020 Compliance Plan and Compliance Director
Update
OpenInformationalCheryl Dietz
72020 Internal Audit Plan Risk AssessmentOpenInformationalCheryl Dietz/Mike Dutil
82020 Internal Audit PlanOpenActionLarry Jensen
9Chief Auditor UpdateOpenInformationalLarry Jensen
10Review of Information RequestsOpenInformationalChairperson
11Draft Agenda for the Next Committee MeetingOpenInformationalChairperson
12Opportunities 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 observe, but may not participate in the discussion of agenda items.
 
Board Governance Committee  -  10:45 am
Meeting location:
Or Upon Adjournment of the Audits and Risk Management Committee
Download Meeting Items
ItemTitleSessionTypePresenter
0There will be a public comment period at the end of each agenda item. The time allotment and other terms are subject to change and are at the discretion of the Committee ChairOpenActionChairperson
1Approval of Committee AgendaOpenActionChairperson
2Approval of Minutes of the May 10, 2019, Board
Governance Committee Meeting – Open Session
OpenConsent/ActionChairperson
3Teachers’ Retirement Board Policy Manual Revisions
– Discuss Scope of Revisions
OpenInformationalBrian J. Bartow/ Jill Lukins
4Teachers’ Retirement Board Policy Manual Revisions
– Personal Trading Policy – 1st Reading
OpenInformationalShifat Hasan / Melissa DaRonco
5Review of Information RequestsOpenInformationalChairperson
6Draft Agenda for the Next Committee MeetingOpenInformationalChairperson
7Opportunities 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 observe, but may not participate in the discussion of agenda items.
 
Benefits & Services Committee  -  1:00 pm
Meeting location:
Or Upon Adjournment of the Board Governance Committee
Download Meeting Items
ItemTitleSessionTypePresenter
0There will be a public comment period at the end of each agenda item. The time allotment and other terms are subject to change and are at the discretion of the Committee ChairOpenActionChairperson
1Approval of Committee AgendaOpenActionChairperson
2Approval of Minutes of the September 5, 2019,
Benefits and Services Committee Meeting – Open Session
OpenConsent/ActionChairperson
32019 Annual Member SurveyOpenInformationalAlisa Dobbins
4Survivor Benefits and Outstanding Death Benefit
Update
OpenInformationalMelyssa Adams
5Communication StrategiesOpenInformationalKaren Doron
6Executive Officer ReportOpenInformationalCassandra Lichnock
7Review of Information RequestsOpenInformationalChairperson
8Draft Agenda for the Next Committee MeetingOpenInformationalChairperson
9Opportunities 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 observe, but may not participate in the discussion of agenda items.
 
Regular Meeting  -  2:45 pm
Meeting location:
CalSTRS Sacramento River Room and American River Room
Download Meeting Items
ItemTitleSessionTypePresenter
0There will be a public comment period at the end of each agenda item. The time allotment and other terms are subject to change and are at the discretion of the Committee ChairOpenActionChairperson
1Approval of Committee AgendaOpenActionChairperson
2aBoard Workshop - Compensation Program to Align with the
Collaborative Model
OpenInformationalMelissa Norcia/ Luis Navas and Peter Landers, Global Governance Advisors
2bBoard Workshop - Career Executive Assignment Recognition
Program
OpenInformationalCassandra Lichnock

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.
 
November 08, 2019
Regular Meeting (continued)  -  9:00 amDownload Meeting Items
ItemTitleSessionTypePresenter
3Adoption of Proposed 2020-21 Operating BudgetOpenActionJulie Underwood
4Consideration of Board-Sponsored Legislation and
Regulations
OpenActionGrant Boyken/ Joycelyn Martinez- Wade
5Public Comment FrameworkOpenActionBrian Bartow/Grant Boyken
6Review of CalSTRS Funding Levels and RisksOpenInformationalRick Reed/ David Lamoureux
7Pension Solution Project UpdateOpenInformationalAshish Jain/ Prashant Mittal/Melyssa Adams/Graeme Finley, Grant Thornton LLP
8Review of CalSTRS Basic Financial Statements as of
June 30, 2019
OpenInformationalJulie Underwood/ Art Martinez/ Bankole Fatunla
9Enterprise Risk Management ReportOpenInformationalJulie Underwood/ Phillip Burkholder
10Federal Legislative ReviewOpenInformationalJohn Stanton, Hogan Lovells
11Chief Executive Officer ReportOpenInformationalJack Ehnes
12Disclosure of Incentives for Statutory Positions for the
2018-19 Plan Year - Revised
OpenConsent/InformationChairperson
13aCommittee Reports 1) Investment Committee 2) Appeals Committee 3) Audits and Risk Management Committee 4) Benefits and Services Committee 5) Board Governance 6) Compensation CommitteeOpenConsent/ActionChairperson
13bApproval of Minutes of the September 6, 2019
Regular Meeting – Open Session
OpenConsent/ActionChairperson
13cBoard Member Education - RevisedOpenConsent/ActionChairperson
13dContracts Requiring Board ApprovalOpenConsent/ActionChairperson
13eApproval of Annual Incentive of Chief
Executive Officer
OpenConsent/ActionChairperson
13fApproval of Annual Incentive of Chief
Investment Officer
OpenConsent/ActionChairperson
14Items Referred by Committee for Board DecisionOpenInformationalChairperson
15New Business / Review of Information RequestsOpenInformationalChairperson
16Draft Agenda for the Next Committee MeetingOpenInformationalChairperson
17Opportunities for Statements from the PublicOpenInformationalChairperson
18Approval of Minutes of the July 11-12, 2019 Regular Meeting – Closed Session (Gov. Code, sec 11126)ClosedConsent/ActionChairperson
19Committee Reports (Gov. Code, Sec. 11126) a. Investment Committee b. Appeals CommitteeClosedInformationalChairperson
20Report on Cybersecurity (Gov. Code, sec. 11126 (c)(18)(A))ClosedInformationalScott Tirapelle
21Evaluation of Consultant (Gov. Code, sec. 11126(a))ClosedInformationalBrian J. Bartow
22Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e)ClosedInformationalBrian J. Bartow
23Chief 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 #3 - 2019 Asset Liability Study - Asset Allocation Step SixOpenActionALM Team
2Investment Committee - Item # 3 - 2019 Asset Liability Study – Asset Allocation Step
Six
OpenActionMeketa
3Investment Committee - Item #3 - 2019 Asset Liability Study – Asset Allocation Step
Six
OpenActionMeketa
4Investment Committee - Item #3 - 2019 Asset Liability Study – Asset Allocation Step
Six
OpenActionRCLCO
5Investment Committee - Item #4 - Sustainable Investment & Stewardship Strategies –
Framework for Engagement
OpenInformationalKirsty Jenkinson and Aeisha Mastagni
6Investment Committee - Item #5a - Global Equity – Active Risk Budget OverviewOpenInformationalJune Kim
7Investment Committee - Item #5b - Global Equity – Active Risk Budget OverviewOpenInformationalMeketa
8Investment Committee - Item #6 - Annual Cost Investment ReportOpenInformationalDebra Smith and Investment Staff
11Audits & Risk Management - Item #4a - CalSTRS Independent Financial Statement Auditor
Reports for the Year Ended June 30, 2019, a) Basic Financial Statements, Required
Supplementary Information, and Other Supplementary Information for the Year Ended June 30, 2019
OpenActionCrowe LLP
12Audits & Risk Management Committee - Item #4b - CalSTRS Independent Financial Statement Auditor
Reports for the Year Ended June 30, 2019; b) Other Pension Information – State Teacher’s Retirement Plan for the Year Ended June 30, 2019
OpenActionCrowe LLP
13Board Governance Committee - Item #4 - Teachers’ Retirement Board Policy Manual Revisions – Personal Trading Policy – 1st ReadingOpenInformationalShifat Hasan and Melissa DaRonco
14Benefits and Services Committee - Item #3 - Annual Member SurveyOpenInformationalAlisa Dobbins
15Benefits and Services Committee - Item #4 - Survivor Benefits and Outstanding Death Benefit
Update
OpenInformationalMelyssa Adams
16Benefits and Services Committee - Item #5 - Communication StrategiesOpenInformationalKaren Doron
17Regular Meeting - Item #2a - Board Workshop; a) Compensation Program to Align with the Collaborative ModelOpenInformationalMelissa Norcia / Luis Navas and Peter Landers, Global Governance Advisors
18Regular Meeting - Item #6 - Review of CalSTRS Funding Levels and RisksOpenInformationalRick Reed / David Lamoureux
19Regular Meeting - Item #7 - Pension Solution Project UpdateOpenInformationalAshish Jain / Prashant Mittal / Melyssa Adams
20Regular Meeting - Item #7 - Pension Solution Project UpdateOpenActionGraeme Finley, Grant Thornton LLP
21Regular Meeting - Item #10 - Federal Legislative ReviewOpenInformationalJohn Stanton, Hogan Lovells

NOTE: