LACERA's Investment Policy Statement (IPS) guides all aspects of LACERA’s investment program. It is approved by the Board of Investments and reviewed and updated on a regular basis, as appropriate. The IPS includes LACERA's Corporate Governance Principles, Corporate Governance Policy, and Responsible Contractor Policy. Collectively, the Investment Policy Statement and its related attachments provide a comprehensive and consolidated approach to LACERA’s investment activities, including corporate governance, ESG, and responsible stewardship.
LACERA's Board of Investments has established a Corporate Governance Committee (Committee), which is charged with oversight of LACERA's corporate governance and other sustainable investment issues. The Committee meets several times per year to review and establish program objectives. Committee meetings are open to all Board of Investments members to attend and participate. Recommendations of the Committee are advanced for the Board of Investments’ consideration and approval.
Staff contributes to the development, implementation, and ongoing review and planning of corporate governance and related responsible stewardship activities. Stewardship activities are integrated into the total fund’s work plan. The Chief Investment Officer, along with dedicated corporate governance staff, report on policy and program development and progress to both the full Board of Investments and its Corporate Governance Committee.