Marcie Frost
The Steward
Legacy, values and the long now, leadership as care and continuity.
Marcie Frost embodies The Steward archetype throughout this interview, consistently anchoring every strategic decision to the long-term welfare of CalPERS's 2.3 million beneficiaries. She frames the organization's 75% funding status not as a management failure but as a multigenerational obligation requiring disciplined actuarial planning and portfolio stewardship.
“Our fiduciary duty is for the exclusive benefit of our 2.3 million members. Every decision we make has to improve the likelihood that that benefit is going to be paid over long periods of time.”
On ESG and fiduciary responsibilityundated
“We are investing over decades, 30-year time horizons. And climate is causing changes today that need to be recognized in the valuation of the companies.”
On long-term climate risk analysisundated
“Failure isn't a career stopper. Failure is taking some risk. If that failure we don't want to see repeated, but taking on risk is important here.”
On organizational culture and innovationundated
Money Maze Podcast: “Managing the Largest Public Pension Fund in the U.S. - With CalPERS CEO, Marcie Frost”
LISTEN AT THE SOURCE ↗THE RECORD IS CHECKABLE