Meet Jose Luis
Jose Luis Pacheco’s journey to the CalPERS Board of Administration is deeply personal. Growing up in Watsonville’s Pajaro Valley as the son of farmworkers, he witnessed the transformative power of a secure pension. His mother, a Communications Workers of America union member, retired with dignity thanks to a defined benefit pension—a promise he is committed to protecting for all CalPERS members.​
Since joining the CalPERS Board, Jose has worked tirelessly to safeguard the financial stability of the pension fund while ensuring members receive the healthcare and retirement security they deserve. He firmly believes that CalPERS must meet and exceed its targeted rate of return in a risk-adjusted manner over the long run, ensuring sustainability for both current and future retirees. His approach to leadership is rooted in independent fiduciary responsibility—representing all members of the system, not just a specific group or union. Under the Primary Duty Rule, he upholds his obligation to act solely in the best interests of members and beneficiaries, resisting external political interference that could compromise the system’s integrity.
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Jose has also been a strong voice in leveraging CalPERS’ purchasing power to control healthcare costs while ensuring access to high-quality care. He recognizes that rising healthcare expenses are a major concern for members and has actively pushed for solutions that enhance affordability without sacrificing service quality. Additionally, he is committed to protecting members’ data privacy, and ensuring personal information remains secure from bad actors.​​
A champion of diversity, equity, and inclusion, Jose views these principles as essential to the long-term sustainability and growth of the CalPERS fund. He has been a strong proponent of investing in diverse and emerging portfolio managers, understanding that diversity in financial decision-making leads to better risk management and stronger returns.
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Jose’s leadership on the board has been marked by professionalism, diligence, and a commitment to member oversight. He asks tough questions, flags potential issues early, and collaborates with staff and fellow board members to develop thoughtful, consensus-driven solutions. His qualifications—ranging from dual bachelor’s degrees in Economics and Biological Sciences to certifications from Santa Clara University and Harvard Business School—equip him with the expertise necessary to navigate complex financial and policy challenges.​
​As he seeks re-election, Jose remains focused on protecting pensions, securing healthcare benefits, and strengthening CalPERS for future generations. His independent leadership and unwavering commitment to fiduciary responsibility set him apart, ensuring that every public employee can retire with dignity and security.
