Alicia C. Tiracave

The meeting included a quarterly investment performance report, a review of the Pennsylvania County Pension Plan report, and a rebalancing proposal. The board also reviewed administrative fees, litigation checks, retirements, and new member enrollments into the retirement plan. Additionally, the session covered reports regarding refunds, rollovers, beneficiary payments, and year-to-date contributions and distributions for the retirement fund.

The board meeting agenda included considerations for a pension actuary agreement with Foster and Foster, a rebalancing proposal, administrative fees, and litigation checks. Additionally, the meeting addressed personnel matters related to retirements and the enrollment of new members into the retirement plan, alongside reviewing reports on refunds, rollovers, beneficiary payments, and the current year-to-date status of contributions and distributions.

The board reviewed the quarterly investment performance report, received a presentation on the Blair OCIO, and evaluated a rebalancing proposal presented by Marquette Associates. Additionally, the agenda included administrative fee approvals, discussions on litigation checks, updates on new retirement plan members, and reviews of refunds, rollovers, beneficiary payments, and year-to-date contributions and distributions.

The board discussed and approved the retention of Foster and Foster as the new county actuary and authorized an Actuarial Services Agreement. Additionally, the board approved a rebalancing proposal to secure funds for distribution payments and authorized administrative fees. Various financial transactions were also addressed, including the approval of retirements, refunds, rollovers, and beneficiary payments, while reports regarding new membership applications, contributions, and monthly retirement distributions were provided for information.

The board discussed the 2024 actuarial report, covering plan benefits, demographics, and valuation results. A recommendation was approved to increase 2026 county contributions to the retirement fund by 5%. The board also approved a rebalancing proposal involving the redemption of $275,000 from specified equity funds to meet liquidity needs and maintain asset allocation targets. Additionally, administrative fees, as well as retirement, refund, rollover, and beneficiary payments were approved.