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 action items — among those taken up while they were present — on which they made a substantive remark.
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.
Panel 02 · Over time
Open-session action items the Committee took up each year. Closed-session items (no public transcript) and items where no action was taken are excluded. This count is the same regardless of member type.
The count of action items reaching the floor falls from 19 in 2016 to 3 in 2025.
Panel 03 · Two ways to read the same record
Per item: on a given 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 action items.
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.
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 121 by elected members, 96 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 (121 elected, 96 appointed, 55 office) sum to the reconciled 272. Hover any point or bar for the underlying figures.