CalPERS Investment Committee · Open-session action items · 2016–2025
How many items the Committee voted on each year, and how often members spoke substantively on them — drawn from the certified meeting transcripts. Each panel can be viewed by category — elected members, appointed members, ex-officio office-holders, or all of them together.
Panel 01 · By member
For each member, the share of open-session action items — among those taken up while they were present — on which they made a substantive remark. Closed-session and no-action items are excluded.
The dashed line marks the median for the selected category. The tenure filter shows the pattern isn’t driven by short-serving members. Elected members appear in yellow, appointed members in amber, and ex-officio members in blue. Each ex-officio entry is an office-holder (e.g. Treasurer Ma) with the acting proxies who served during their term folded in. Speaking data is drawn from the 2016–2025 certified transcripts; 2013–2015 transcripts are not yet available, so those years are not reflected here.
Panel 02 · Over time
Action items the Committee took up each year, 2013–2025. Use the toggle to switch between open-session action items (the public, transcribed votes) and all action items (open-session plus closed-session and no-action items). This count is the same regardless of member type.
Open-session action items reaching the floor fall from 27 in 2013 to 3 in 2025. Switch to all action items to include closed-session votes and items where no action was taken.
Panel 03 · Two ways to read the same record
Per item: on a given open-session action item, how many members spoke? Per year: across the whole year, how many substantive speaking-turns were there in total? Both are plotted against the count of open-session action items (closed-session and no-action items are excluded).
The two measures move differently. Per item, the figure is roughly flat and ticks up at the end. Per year, the total number of substantive speaking-turns tracks the falling item count — because each year’s total depends on how many items there were to speak on. Speaking data covers 2016–2025; 2013–2015 transcripts are not yet available. Panel 02 above extends the item counts back to 2013.
Source: certified CalPERS Investment Committee transcripts, Feb 2016–Nov 2025. 77 open-session action items with marked begin/end discussion windows; 9 closed-session and 2 no-action items excluded. “Substantive” speaking is taken from the reconciled Speaker Count Audit — motions, seconds, votes, and procedural turns are not counted. Across the 77 items there are 272 total speaker-credits — about 116 by elected members, 90 by appointed members, and 55 by ex-officio office-holders (the State Treasurer, Controller, and CalHR Director seats, shown per office-holder with their acting proxies folded into the office-holder who served during that term). Members are elected or appointed per the CalPERS board roster; ex-officio members hold their seats by virtue of statewide office. The per-category totals (116 elected, 90 appointed, 66 office) sum to the reconciled 272. Hover any point or bar for the underlying figures.
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