Asset Liability Management Stakeholder Webinar | December 4, 2025

California Public Employees Retirement System · December 8, 2025

0:00/59m

59:55

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15:00

30:00

45:00

59:55

Opening and housekeeping

Presentation

0:00 → 1:07(1m 7s)

Simone Parker (stakeholder relations) opened the webinar, explained recording/slide distribution, Q&A process, closed captioning and timing, and outlined that questions will follow the presentations.

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CalPERS staff held a one-hour stakeholder webinar to explain the board's November adoption of a new asset-liability management (ALM) approach, including a shift to a total portfolio approach with a 75/25 reference portfolio and an active risk limit. Staff also reviewed actuarial assumption changes (including inflation and salary-scale updates), projected modest contribution impacts for most plans, and implementation timing for the new assumptions.

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Transcript

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