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CalSavers Retirement Savings Board

2021 Board Meetings

Executed Resolutions

Board meeting agendas shall be posted no later than ten days prior to each meeting. Individual agenda items will be posted prior to the meeting as they become available. The public shall be notified as the items are posted.

• December 13, 2021
  • Agenda
  • Minutes
  • Item 2 – Executive Director’s Report
    • Attachment 2A: Summary of Program Participation & Funding as of November 30, 2021
    • Attachment 2B: Summary of Monthly Budget Report through June 30, 2021
    • Attachment 2C: Quarterly Risk Heat Map
  • Item 3 – Program Administrator’s Report
  • Item 4 – Third Quarter Investment Performance Report & Education Session on Industry Trends
    • Attachment 4A: Quarterly Investment Performance Report for the quarter ending 9/30/21
    • Attachment 4B: Industry Trends Presentation
  • Item 5 – Annual Review of the Investment Policy Statement
    • Attachment 5A: Investment Policy Statement, Last Amended December 7, 2020
  • Item 6 – Resolution 2021-11, Authority to Readopt Emergency Regulations in Chapter 15 of Title 10 of the California Code of Regulations, Including Changes to Remove the Second Automatic Enrollment Feature
    • Attachment 6A: Text of Regulations Amendments
    • Attachment 6B: Resolution 2021-11: Resolution of the CalSavers Retirement Savings Board to Readopt Emergency Regulations
  • Item 7 – Resolution No. 2021-12, Approval of Emergency Regulations Amendments to Sections 10000, 10001, 10002, and 10004 of Chapter 15 of Title 10 of the California Code of Regulations and Authority to Conduct Rulemaking
    • Attachment 7A: Text of Regulations Amendments
    • Attachment 7B: Resolution 2021-12: Approval of Emergency Regulations Amendments to Sections 10000, 10001, 10002, and 10004 of Chapter 15 of Title 10 of the California Code of Regulations and Authority to Conduct Rulemaking
  • Item 8 – Resolution 2021-13, Extension of Contract CSCRSIB02-19 for Legal Advisory Services with K&L Gates LLP
    • Attachment 8A: Resolution 2021-13: Resolution of the CalSavers Retirement Savings Board to Amend Contract CSCRSIB02-19 for Legal Advisory Services with K&L Gates LLP
    • Attachment 8B: Agreement No. CSCRSIB02-19
  • Item 9 – Update on the Landscape of State Retirement Programs
  • CLOSED SESSION
  • Item 10 – As authorized by Government Code Section 11126(e), the Board will meet in closed session to confer with, and receive advice from, its legal counsel regarding the following pending litigation: Howard Jarvis Taxpayers Ass’n., et al. v. The California Secure Choice Retirement Savings Program, et al.; Supreme Court of the United States Case No. 21-558
• September 13, 2021
  • Agenda
  • Minutes
  • Item 2 – Executive Director’s Report
    • Attachment 2A: Summary of Program Participation & Funding as of August 31, 2021
    • Attachment 2B: Summary of Monthly Budget Report through May 31, 2021
    • Attachment 2C: Program Fund Audit FY 19-20
    • Attachment 2D: Quarterly Risk Heat Map
  • Item 3 – (Postponed) Program Growth & Budget Projections
  • Item 4 -- Discussion of ESG (Environmental, Social, and Governance) Investment Option and Resolution No. 2021-06 to Exercise One-Year Contract Extension (No. CSCRSIB06-18) for Newton Investment Management Limited As Manager of the Sustainable Balanced Fund Investment Option
    • Attachment 4A: Resolution 2021-06 to Exercise Contract Extension for Newton Investment Management Limited
  • Item 5 -- Second Quarter Investment Performance Report & Education Session on ESG
    • Attachment 5A: Quarterly Investment Performance Report for the quarter ending 6/30/21
    • Attachment 5B: ESG Funds Presentation
  • Item 6 – Program Administrator’s Update & Annual Marketing Review
    • Attachment 6A: Ascensus Presentation
  • Item 7 -- Resolution No. 2021-07, Delegation of Authority to Board Chair for Execution of Performance Evaluation for Executive Director
    • Attachment 7A: Resolution No. 2021-07
    • Attachment 7B: Authority of the CalSavers Retirement Savings Board and Chair
  • Item 8 -- Resolution No. 2021-08 to Readopt Emergency Regulations to Section 10002 of Chapter 15 of Title 10 of the California Code of Regulations Regarding the Registration Deadline for Employers with More than 100 Employees
    • Attachment 8A: Resolution 2021-08: Resolution of the CalSavers Retirement Savings Board to Readopt Emergency Regulations Amendments Regarding the Registration Deadline for Employers With More Than 100 Employees
    • Attachment 8B: Text of Regulations
  • Item 9 -- Resolution No. 2021-09 to Readopt Emergency Regulations in Chapter 15 of Title 10 of the California Code of Regulations, Including Changes to the Default Investment Option
    • Attachment 9A: Resolution 2021-09: Resolution of the CalSavers Retirement Savings Board to Readopt Emergency Regulations Amendments Including Changes to the Default Investment Option
    • Attachment 9B: Text of Regulations
  • Item 10 -- Resolution No. 2021-10 Authorizing a Regular Rulemaking For Amendments to Section 10002 of Chapter 15 of Title 10 of the California Code of Regulations Regarding the Registration Deadline for Employers with More than 100 Employees
    • Attachment 10A: Resolution 2021-10: Resolution of the CalSavers Retirement Savings Board to Conduct the Regular Rulemaking Process
    • Attachment 10B: Text of Regulations
  • CLOSED SESSION
  • Item 11 -- Litigation (Government Code Section 11126(e)) – Discussion with Legal Counsel Regarding Litigation (Howard Jarvis Taxpayers Ass’n., et al. v. The California Secure Choice Retirement Savings Program, et al.; U.S. Court of Appeals for the Ninth Circuit Case No. 20-15591)
• June 22, 2021
  • Agenda
  • Minutes
  • Item 2 -- Executive Director’s Report
    • Attachment 2A: Summary of Program Participation & Funding as of May 31, 2021
    • Attachment 2B: Summary of Monthly Budget Report through April 30, 2021
    • Attachment 2C: Administrative Fund Audit FY 2019-2020
    • Attachment 2D: Quarterly Risk Heat Map
  • Item 3 -- Program Administrator’s Report
    • Attachment 3A: Ascensus Presentation
  • Item 4 -- First Quarter Investment Performance Report & Education Session on Target Date Funds
  • Attachment 4A: Quarterly Investment Performance Report for the quarter ending 3/31/21
  • Attachment 4B: Target Date Fund Presentation
  • Item 5 -- Resolution No. 2021-04, Delegation of Authority for Enforcement of Employer Compliance
    • Attachment 5A: Resolution No. 2021-04
  • Item 6 -- Resolution No. 2021-05, Approval of Strategic Plan 2021-2024
    • Attachment 6A: Proposed CalSavers Retirement Savings Board Strategic Plan 2021-2024
    • Attachment 6B: Resolution 2021-05: Approval of Strategic Plan 2021-2024
  • Item 7 -- Resolution No. 2021-06, Delegation of Authority to Board Chair for Execution of Performance Evaluation for Executive Director
    • Attachment 7A: Resolution No. 2021-06
  • Item 8 -- Update on Outreach & Education Efforts
  • Attachment 8A: Outreach Presentation
  • CLOSED SESSION
  • Item 9 - Litigation (Government Code Section 11126(e)(1)) – Discussion with Legal Counsel Regarding Litigation (Howard Jarvis Taxpayers Ass’n., et al. v. The California Secure Choice Retirement Savings Program, et al.; U.S. Court of Appeals for the Ninth Circuit Case No. 20-15591)
• May 19, 2021
  • Agenda
  • Minutes
  • Item 2 -- Resolution No. 2021-02, Board Position on Assembly Bill 470
  • Attachment 2A: Copy of AB 470 (as of April 13, 2021)
  • Attachment 2B: Bill Analysis for AB 470 (published April 26, 2021)
  • Attachment 2C: Resolution 2021-02: Resolution of the CalSavers Retirement Savings Board to Adopt a Support Position on Legislation
  • Item 3 -- Resolution No. 2021-03, Approval of Interagency Agreement with the Franchise Tax Board for Enforcement Services
    • Attachment 3A: Proposed Interagency Agreement with Franchise Tax Board
    • Attachment 3B: Resolution No. 2021-03
  • Item 4 -- Discussion of Draft Strategic Plan 2021-2024
    • Attachment 4A: CalSavers Retirement Savings Board Strategic Plan 2018-2021
    • Attachment 4B: Status of Implementation of Strategic Plan 2018-2021
    • Attachment 4C: Draft Strategic Plan 2021-2024
  • CLOSED SESSION
  • Item 5 - Litigation (Government Code Section 11126(e)(1)) – Discussion with Legal Counsel Regarding Litigation (Howard Jarvis Taxpayers Ass’n., et al. v. The California Secure Choice Retirement Savings Program, et al.; U.S. Court of Appeals for the Ninth Circuit Case No. 20-15591)
• May 5, 2021 - (Cancelled)
• March 17, 2021
  • Agenda
  • Minutes
  • Item 2 – Executive Director’s Report
    • Attachment 2A: Summary of Program Participation & Funding as of February 28, 2021
    • Attachment 2B: Summary of Monthly Budget Report through November 30, 2020
  • Item 3 – Program Administrator’s Report
    • Attachment 3A – Ascensus Presentation
  • Item 4 – Fourth Quarter Investment Performance & 2020 Review
  • Attachment 4A: Quarterly Investment Performance for the quarter ending 12/31/20
  • Attachment 4B:2020 Year In Review
  • Attachment 4C: 2021 Presentation Calendar
  • Item 5 – Report on the Status of the Implementation of the Strategic Plan 2018-21 and a Discussion of the Development of the Next Strategic Plan
    • Attachment 5A – CalSavers 2018-2021 Strategic Plan
    • Attachment 5B – CalSavers 2018-21 Strategic Plan Status
    • Attachment 5C: CalSavers 2021-2024 Draft Strategic Plan Framework
  • Item 6 – Readoption of Emergency Regulations Initially Approved on July 27, 2020, Resolution No. 2021-01
    • Attachment 6A: Text of Amendments
    • Attachment 6B: Readoption Resolution
    • Attachment 6C: Timeline
  • CLOSED SESSION
  • Item 7 - Litigation (Government Code Section 11126(e)(1)) – Discussion with Legal Counsel Regarding Litigation (Howard Jarvis Taxpayers Ass’n., et al. v. The California Secure Choice Retirement Savings Program, et al.; U.S. Court of Appeals for the Ninth Circuit Case No. 20-15591)