Gov. Gavin Newsom has appointed Lisa Middleton as the insurance industry representative on the CalPERS Board of Administration.
She previously served on the CalPERS Board of Administration, as the representative for local government elected officials from 2019 to February 2025 as a member of the Palm Springs City Council.
“We welcome Lisa back to CalPERS and look forward to the experience and perspective she will bring in service to our 2.3 million members,” said CalPERS Chief Executive Officer Marcie Frost. “We have seen firsthand how Lisa’s commitment to public service, both as a city leader in Palm Springs and a former board member, will be invaluable to our mission to provide retirement security and quality health care benefits to those who serve California.”
Prior to her role at CalPERS, Middleton spent more than three decades at California's State Compensation Insurance Fund, from 1974 to 2010. At her retirement she was the senior vice president of Internal Affairs with executive responsibility for internal audits, fraud investigations, public records, and governance. She was also a member of California's Fraud Assessment Commission, which she chaired in 2010.
“Lisa has made an indelible impact, touched countless lives, and strengthened communities through her service,” said CalPERS Board of Administration President Theresa Taylor. “She exemplifies integrity, compassion, and excellence. Her return to the CalPERS board will set a high standard for all of us to follow.”
Middleton earned a bachelor's degree in political science and holds a master's degree in public administration from the University of Southern California. She also completed the LGBT Leadership Institute program through the University of California, Los Angeles, Anderson School of Management. Middleton is the first transgender person elected to a non-judicial office in the State of California.
The 13-member CalPERS Board of Administration sets policy and oversees the administration of retirement and health benefits on behalf of California public employers, and their active and retired employees. The board also oversees administration of the pension fund’s investments. Under the California Constitution, the CalPERS Board has exclusive authority to administer the CalPERS pension fund.
The next board meeting will take place on September 15-17, 2025.
