[{"_1":2,"_88":-5,"_89":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6195477,"mediaKeyId","3862451-e59de47d4459e2e089336ddec55095ef","parentId",3862451,"title","CalPERS highlights employee awards and manager outreach events","audioSeconds",334,"startMs",276215,"endMs",611208,"viewUrl","/Search/View?dp=1&key=3862451-e59de47d4459e2e089336ddec55095ef&start=276&end=611","thumbnailUrl","https://assets.pipeline.soar.com/3862451-e59de47d4459e2e089336ddec55095ef/thumbnail_276215.jpg","articleUrl","/articles/6195477/California/CalPERS-highlights-employee-awards-and-manager-outreach-events","mediaUrl","https://secure.pipeline.soar.com/6195477-f0330349deb174b7cdf768bd53f867a0/orig.mp4?Expires=1773746664&Signature=VSwmzS6X3DDUVReB3-RDAVLlMPDCFb4Hpxosfzd951sq9wqnfK5L1sLAAzs39RE4OdDhccO8ItEwDTEZlFg1b0jKqqVj-olmyzxSImAK-taoOd8AWED92xw3u7LdNT8QNfN~Xu5k4GR1X~tqCW1v1Xc-vI4zhliBxfBOPyLauDG-XKgbHMW~ZRYV8PfLMk6l-LZNYN5DM7P09dCwseqF8f2tJUJzuZ6yKORDeQsIKYFYSR1nEh-REesFS7t1zW1A4gLgKaviZ6owI-ZipVcA8bEhnEAQIZz2bkYFk5s9b1045V7ITN-q1jlP9eobmW8ExZHijcLiItauR2tAacFuEQ__&Key-Pair-Id=KUT5TJCACFTXG","author","California Public Employees Retirement System","date","2025-06-19T03:39:03.767Z","article","A CalPERS staff member reported to the California Public Employees Retirement System board that the fund recognized 40 employees with the Achieving Performance Excellence (Apex) award and summarized outreach events aimed at diversifying and expanding the investor community.

The presenter described the Apex awards as peer-nominated and said this year’s class of 40 recipients was among the largest in CalPERS' history. \"Each Apex recipient truly represents the purpose here at CalPERS,\" the staff member said.

The staff member also reviewed results from the Catalyst event, a joint CalPERS–CalSTRS forum for emerging and diverse investment managers. The presenter said the event drew 569 external attendees from 435 organizations and, including CalPERS and CalSTRS staff, exceeded 600 total attendees. The presenter said attendance rose 36% year over year and that attendees asked for more limited-partner/allocator participation, more one-on-one meetings and additional time for networking.

Looking ahead, the staff member noted the Pathways for Women conference will be held in August at the Anaheim Marriott and that registration is open. Planning is also underway for the annual educational forum for employers, which the presenter said will take place in October at the JW Marriott Desert Springs Resort in Palm Desert; early-bird registration runs through August 5, the staff member said.

No board actions or votes were reported in relation to the awards or the events; the presentation was informational.","mediaType","Video","parentTitle","CEO Report | Wednesday, June 18, 2025","oneSentenceSummary","CalPERS recognized 40 APECS (Apex) award recipients and reported increased attendance at a joint CalPERS–CalSTRS Catalyst event; staff announced upcoming Pathways for Women and an educational forum.","taxTitle","California Public Employees Retirement System, Agencies under Office of the Governor, Executive, California","taxId",70079,"location","California","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6195481,"CalPERS defends use of proxy advisory research amid rising criticism",275,161,275450,"/Search/View?dp=1&key=3862451-e59de47d4459e2e089336ddec55095ef&start=0&end=275","https://assets.pipeline.soar.com/3862451-e59de47d4459e2e089336ddec55095ef/thumbnail_161.jpg","/articles/6195481/California/CalPERS-defends-use-of-proxy-advisory-research-amid-rising-criticism","https://secure.pipeline.soar.com/6195481-3bcc3db4099383122457fdbda554d87d/orig.mp4?Expires=1773746664&Signature=PWqHLUd-lxNP4aD0c6-95UaUFIdDPHDT2~01yLET2foWBC38LwABSzlJFAtwKQHJEHfKtpI1NTVnvSQGIJBGDnY5m6-ECMzorBimOyE3vQOOmTWtuyImE8ScRaIDve4yL2LlCL1VhRNzvIVgZNREc-tZUP30E7NRWycIUHD4i7gDbhwEYsPI~nLF464BaI6c3evsg08uz5-fUSuYqI9ELWW-ybVzLAaCBrB6sJCmuQSqz7Bi8cHwz8CgSWxPWdah1Gq~qrs76JDCQmPbF6MBDrPxSMt07PCRi-l29GPGOV1ZAtICwHsw0n6fOutGh1KelIyan~s98AtWhW77MIEEew__&Key-Pair-Id=KUT5TJCACFTXG","A CalPERS staff member told the California Public Employees Retirement System board that CalPERS conducts its own, extensive research before casting proxy votes and does not \"rely solely\" on recommendations from proxy advisory firms such as Glass Lewis and ISS.

CalPERS' investment team, the staff member said, voted proxies at more than 10,000 share owner meetings in the 2024 calendar year — a total the presenter said equated to about 95,000 individual votes across 63 countries. \"As a long term share owner, we view proxy voting as 1 of the most important tools to influence a company's governance practices,\" the staff member said, listing \"say on pay, board independence, board diversity, board expertise\" as typical issues.

The staff member framed the remarks as a response to public criticism of proxy advisory firms, including a recent comment by \"a prominent CEO\" who called such firms \"a cancer,\" and members of Congress proposing SEC regulations that could increase costs and legal risk for users of advisory services. The presenter said those proposals and rhetoric risk discouraging investors from using proxy advisory research and, in the presenter's view, could \"silence shareholders\" and undermine fiduciary duties.

Explaining CalPERS' process, the staff member said the fund's proxy voting decisions are guided by the board-approved governance and sustainability principles and the system's proxy voting guidelines. The presenter said CalPERS uses multiple research providers, including Glass Lewis and Institutional Shareholder Services (ISS), and that CalPERS casts votes through an electronic platform provided by Glass Lewis. \"CalPERS doesn't, nor has it ever relied solely on these recommendations to make our voting decisions,\" the presenter said.

To illustrate independent decision-making, the presenter cited alignment statistics for 2024: CalPERS voted in alignment with corporate management's recommendations about 74% of the time, while Glass Lewis aligned with management about 90% of the time. The presenter said CalPERS makes its proxy votes public on its website so companies and the public can see how the fund will vote.

The staff member also said the United States is currently the only market considering the elimination of proxy advisory firms and argued that eliminating the firms would weaken corporate governance, reduce transparency and harm institutional investors. No board motion or vote on proxy-adviser regulation was taken during the report.

The report closed with an affirmation of proxy advisory firms' role in providing research grounded in governance best practices and a reminder that CalPERS' staff undertake \"hundreds of hours\" of work reviewing corporate proxy materials before voting.","A CalPERS staff member told the board that the pension fund independently researches proxy votes and does not rely solely on proxy advisory firms, citing 2024 voting activity, alignment rates and public posting of votes.","actionData","errors"]

Article not found

CalPERS highlights employee awards and manager outreach events

CalPERS defends use of proxy advisory research amid rising criticism