Board of Administration | Monday, November 17, 2025
California Public Employees Retirement System Board of Administration · November 18, 2025
The California Public Employees Retirement System Board of Administration met in open session to hear public comment on sustainable investments and to consider adopting a new Asset‑Liability/Total Portfolio governance model. Staff recommended adopting a 75/25 reference portfolio, a 400 basis‑point active‑risk limit, and keeping the discount rate at 6.8%; the board voted to adopt the recommendation after extended discussion and public comment.
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