New Board Education Program for Nation’s Largest Public Pension Fund
(DAVIS, CA) With more than $300 billion in assets under management, the California Public Employees Retirement System (CalPERS) is a heavyweight institutional investor on Wall Street and beyond. Part of the challenges for the CalPERS board is keeping up to date on the latest trends and knowledge in pension fund investment, governance and benefits administration. The Graduate School of Management is offering its expertise to help the board members stay current.
The School previously provided a world-class Pension Fundamentals Program focusing on finance, portfolio management and corporate governance training for nearly 300 professionals in CalPERS Investment Office. The successful two-year program concluded in April.
Because of the effectiveness of that program, CalPERS recently extended its partnership with UC Davis Executive Education to assist in meeting the education requirements of a new law in California. This past summer, the California Legislature passed Assembly Bill 1163. The law requires that policy be created for board education programs that identify appropriate topics. The bill requires 24 hours of education over two years, 20 of which are included in the agreement between CalPERS and UC Davis Executive Education.
“Building on the success of the Pension Fundamentals Program, we’re partnering with the UC Davis Graduate School of Management’s on a new educational program for the CalPERS Board of Administration,” said CalPERS’ Chief Executive Officer Anne Stausboll.
“We have worked closely with the faculty to develop a five-part program designed to provide CalPERS’ board members with cutting-edge knowledge and trends in our core strategic areas of retirement planning, asset management, financial compliance and risk, pension fund governance and health care delivery. We look forward to the sessions.”
The sessions, which will start in July and be held during regular public board meetings, will include:
- U.S. Retirement, Public and Private Environment by Dean Ann Huff Stevens (July 2015).
- Asset Liability Management, Economic Principles and Investment Markets by Associate Professor Joseph Chen and Professor Paul Griffin (September 2015).
- Financial Reporting, Risk, Compliance and Internal Controls by Professor Griffin in November 2015. The School will partner with the UC Davis Law School to offer an additional session on Hearings Process Training, including topics such as fair hearings, disability Retirement and other key benefit determinations (November 2015).
- Pension Fund and Board Governance by Professor Robert Yetman (January 2016).
- U.S. Healthcare System, discussing the healthcare landscape and delivery (July 2016).
The sessions will also be open to the public and videotaped to be added to the CalPERS YouTube channel for public record.