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Governance

CalPERS adopts harassment investigation policy for board members

CalPERS has adopted a policy for handling allegations of harassment, including sexual harassment, against board members.

The policy, adopted at the board's Sept. 26 meeting, applies to harassment allegations lodged against board members of the $360 billion California Public Employees' Retirement System accused of conduct constituting harassment, sexual harassment or retaliation. It sets up a process starting with reporting a harassment allegation to the general counsel, who in turn would notify the board president. The president would appoint a review panel of two board members that would then hire an investigator.

If the investigator determines by a preponderance of the evidence that the board member violated the harassment prevention policy, board members would be informed of the allegation and vote on an appropriate sanction, "unless the matter has been resolved informally."

Possible sanctions include admonishment, formal censure, requirement for additional training, removal or suspension from a committee assignment, removal or suspension from leadership roles on committees or revocation of board member privileges.