Dear CSR Members,
The results of the 2025 CalPERS Board of Administration Member-at-Large election were announced today. After a highly engaged campaign season and strong member participation, the following candidates have been declared the unofficial winners:
- David Miller (Position A): Re-elected for a third term with 53.93% of the vote
- Troy Johnson (Position B): Elected for his first term with 52.25% of the vote
Both will begin their four-year terms on January 16, 2026, pending formal certification by the California Secretary of State in November.
This election drew significant attention and record-breaking campaign contributions, reflecting the importance of CalPERS governance to its 2 million members. The newly elected board members will help guide decisions on retirement and health benefits, as well as investment strategies for the $584 billion pension fund.
We thank all candidates for their commitment to public service and all members who participated in shaping the future of CalPERS.
For more details, visit the CalPERS Newsroom.