Johnstone will lead an independent and objective enterprise-wide compliance effort to ensure that CalPERS operations comply with the System’s internal policies and with external rules such as the Internal Revenue Code, the Health Insurance Portability and Accountability Act, and the Public Employees Retirement Law.
She will report to CalPERS General Counsel Peter Mixon, Chief Executive Officer Fred Buenrostro and to the Board of Administration through its Finance Committee. She will also serve as the primary consultant to the Finance Committee and Executive Management team in formulating policies and procedures related to internal compliance issues involving all CalPERS-administered programs.
"This new position will ensure that our operations are above reproach," said Buenrostro. "We set a high standard for companies in which we invest to put in place means to prevent illegal, unethical, or improper conduct. Our new office of compliance will monitor and report on our own operations at CalPERS to ensure that we do the same."
Johnstone comes from the California State Department of Transportation, which she joined in 1996. She has been Chief of its External Equal Opportunity Program since July 2002. Earlier, she was Acting Deputy of Administration for the Department’s San Bernardino Office; its Acting Chief of Policy and Administration; Chief of Program Evaluation and Analysis; and Chief of the Equal Opportunity Program. She received a Bachelor’s degree in Communication from California State University, Sacramento.
"I'm confident that Sherry will be a great asset to CalPERS," Mixon said. "She will tap her experiences in compliance from a solid career in state service to break new ground for us."
CalPERS is the nation’s largest public pension fund, with more than $178 billion in assets. It provides retirement and health benefits to more than 1.4 million State and local public employees and their families. For more information on CalPERS, visit www.calpers.ca.gov.
