Anne E. Gawthrop

The board received legislative updates for the 2026 session and discussed staff recommendations regarding several bills. The board certified a candidate for the State Police Retirement System Representative position. Reports were presented by the Corporate Governance and Securities Litigation Committee regarding divestment and proxy voting, and by the Administrative Committee regarding various policies and consulting workplans. The Chief Investment Officer provided an update on investment performance and fund market value. The Executive Director covered agency activities, including upcoming education sessions and recruitment updates. Finally, the board adopted a revised salary structure for the investment division.

The meeting included a legislative update for the 2026 Session, detailing bills such as SB 724 (Cost of Living Adjustment Bill) and SB 734 (Technical Correction Bill). The committee discussed and approved staff recommendations concerning introduced legislation, including working with sponsors on HB 0312 / SB 0239. Recommendations were approved to present revisions to the Compensation and Staffing Committee Charter and proposed revisions to the Board Operations Policy to the full Board for adoption. Additionally, the Committee recommended that the workplans for the procurement processes of board governance consulting services and actuarial consulting services providers be presented to the Board for approval. Updates were also provided on Member Services statistics and agency vacancies as of January 30, 2026.

The document outlines multiple shareholder meeting agendas for various entities occurring in February 2026. Key discussion topics across the entities include the election and re-election of directors, ratification of auditors, approval of financial statements and statutory reports, dividend approvals, remuneration report approvals, authorizations regarding equity issuance and share buybacks, amendments to company bylaws and stock plans, and specific proposals such as the approval of a merger agreement or a plan of liquidation.

The Investment Committee meeting agenda included a Public Comment session featuring presentations from LiUNA, UFCW International Union, and BCTGM International Union representatives. Key discussion items involved the Chief Investment Officer (CIO) update, including the CIO's first 50 days, and a Strategic Asset Allocation Review. Action items focused on a Meketa Update regarding the impact of CMAs on Strategic Asset Allocation and a recommendation on Policy Weighting for the Transition Plan. The committee also reviewed an Absolute Return Update, Meketa Performance Update, and conducted a review for the One Year Renewal for the Meketa Contract. Further reports included Broker Commission, Quarterly Manager Fee, and various performance reports. The agenda concluded with discussions regarding closed session minutes and adjournment.

This document outlines the charter for the Compensation and Staffing Committee of the Maryland State Retirement and Pension System. The committee is established to make recommendations to the Board regarding the type, number, and qualifications of positions within the Investment Division, as well as objective criteria for determining compensation and financial incentives for the Chief Investment Officer and Investment Division staff. Key responsibilities include conducting market data studies, recommending salary ranges, evaluating position qualifications, and monitoring compliance with applicable laws.