CSAC Bulletin Article

CalPERS Key Meeting This Monday, November 13

November 9, 2017

The California Public Employees’ Retirement System (CalPERS) will host the highly anticipated Asset Liability Management (ALM) Workshop on November 13. Once every four years, CalPERS staff unveils different investment strategies for the Board of Administration (Board) to consider as a path forward for the next four years. Workshop materials are available here.

In summary, CalPERS staff will be presenting four potential investment portfolios with discount rates ranging from 6.5 percent to 7.25 percent. The portfolios represent different levels of risk depending on variations in Global Equity and Global Fixed Income asset classes. The Board examines the portfolios, taking into account the expected rate of return in addition to the risk involved with each, and a month later decides which portfolio to adopt. This matters greatly to counties as it could change employer contribution rates and the funding status of the overall CalPERS system.

Importantly, the workshop offers stakeholders an opportunity to provide input before the Board takes action at its December meeting (scheduled for Wednesday, December 20). CSAC will be participating in the workshop and encourages individual counties to do the same, if possible. It is scheduled to start on Monday, November 13 at 3:00 pm in CalPERS headquarters (400 P Street, Sacramento), Room 1140 with public comment reserved for the end. Those unable to attend in person may send any comments to Dorothy Johnson beforehand so she can convey them during her public testimony.

The event is being webcast live and posted on the CalPERSNetwork within 48 hours. The other Standing Committees will be holding meetings earlier in the day on Monday, November 13 as well as all day on Tuesday, November 14. Agendas are posted here with the same viewing options as the workshop. Please feel free to contact Dorothy Johnson or Tracy Sullivan with any questions and/or concerns.

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