Sacramento County on Tuesday instituted a directive asking residents to stay home as much as possible and only go out to do essential tasks, said Brenda Bongiorno, spokeswoman.
The $371 billion California Public Employees' Retirement System is located in Sacramento County. The West Sacramento-based $252.4 billion California State Teachers' Retirement System is in a neighboring Yolo County.
The county took the action in support of state and federal COVID-19 guidance.
"We're taking our guidance from the state and as yet have not received any word. Our investment office continues to conduct business remotely and off-site," said Megan White, CalPERS spokeswoman, in an email.
Due to the COVID-19 pandemic, CalPERS' board meeting Wednesday was held by teleconference. CalPERS postponed its investment and other committee meetings. During the meeting, CEO Marcie Frost said that CalPERS' investment functions are being managed remotely.
Meanwhile, CalSTRS is following guidance from the California Department of Human Resources and the governor's office in responding to the coronavirus crisis, said Vanessa Garcia, CalSTRS spokeswoman, in an email.
"We will be transitioning as many of our business functions to temporary remote work as possible to protect our staff and members, and will follow current guidance on social distancing," Ms. Garcia said. "This transition may take several days."
She added, "What's more the investment office is continuing to employ risk-mitigation strategies to manage the fund through this period of market volatility."
As of Dec. 31, 8.9% of CalSTRS' portfolio was invested in a risk-mitigation strategy.
