Trustee Education

About The Course

Public Pension Fund Trustees bear a heavy fiduciary burden. On a cumulative basis, California's Constitution holds our members' 350 Trustees accountable for the stewardship of more than $450 Billion in retirement fund assets. 40 California public pension systems belong to CALAPRS. Trustees are invited to participate in this training program that focuses on the practical aspects of Trustee duties. This program is taught in a small group format and is presented exclusively for our member retirement systems.

For over 30 years, CALAPRS has continued to offer high-caliber coursework with carefully selected faculty. The Board of Directors is pleased to launch a renewed and refreshed version of the program in 2026.

Who Should Attend?

Attendance by Trustees is recommended within the first year after assuming office. Experienced Trustees are also welcome to use the program as a comprehensive refresher course.

Why Attend?

• To gain insight into public pension policy issues
• To discuss alternative solutions to common problems
• To understand the complexities involved in administering public pension plans
• To appreciate the differences and similarities among California public pension plans
• To network with other Trustees and pension professionals
• To increase familiarity with pension terminology and concepts
• To receive the AB1234 Ethics Training required for new Trustees

Learning Objectives

Each participant must attend the full 3 days of intensive training with an option to arrive early and attend the Ethics Training. Sessions combine team teaching, case studies and mock board problem solving.  All course materials are based on actual California public pension fund law, policies, practices and problems.

By attending this program, participants will:

• Gain a foundational understanding of defined benefit pension plans, including their purpose, structure, and how they differ from defined contribution plans.
• Learn about the fiduciary responsibilities of retirement board trustees, including the core duties owed to plan members and beneficiaries.
• Develop a working knowledge of the legal and regulatory framework governing California public pension systems, including key statutes and oversight considerations.
• Recognize key governance and compliance requirements affecting trustees, including open meeting laws, conflicts of interest, and ethics requirements.
• Understand the components of pension benefit plans , including membership types, service credit, retirement formulas, and plan tiers.
• Develop a better understanding of disability retirement benefits and the investigative process boards use to evaluate disability applications.
• Strengthen their understanding of actuarial valuations and pension funding concepts, including how contribution rates and unfunded liabilities are determined.
• Be able to more effectively participate in investment governance, by learning more about asset allocation, diversification, and working with investment professionals.
• Understand the general process for selecting and monitoring investment managers, including due diligence and performance oversight.
• Explore governance practices that support effective retirement boards, including policy-focused decision-making, delegation, and collaboration with staff and advisors.

Faculty

The Course will be taught by carefully selected public pension practitioners with real-world experience and expertise, including Trustees, Consultants, Actuaries, Investment Managers, Attorneys & Administrators.

Certificate of Completion

Participants who successfully complete the full course will receive a Certificate of Completion. Trustees must attend all sessions to receive a completion certificate. The 2-hour AB1234 Ethics in Public Service is optional and will provide a separate certificate to participants.