Don M. Burkett

The Board of Trustees reviewed and approved the financial reports for October through December 2025 and accepted the annual financial audit, which yielded an unmodified opinion. The meeting included presentations on securities litigation monitoring services and an investment report covering fourth-quarter market conditions and portfolio performance. The Board also addressed legislative matters for the 2026 session, specifically discussing proposed revisions to rehire legislation and reporting requirements for warrant-funded compensation.

The Board reviewed July and August 2025 financial statements and received an investment report covering asset allocation, market performance for the quarter ended September 30, 2025, and long-term capital market assumptions. An executive session was held to discuss investment matters, resulting in an authorization for the director and counsel to act on investment vehicle advice. The Board also discussed legislative proposals for the 2026 session, including return-to-work provisions for retirees and language cleanup. Additionally, the Board approved the annual Audit Compliance Questionnaire, discussed future Board election terms, and scheduled the next meeting.

The board meeting agenda included reviews of retirement activity and benefit amounts, an annual valuation presentation, and an investment report featuring updates and commitments from financial firms. The board also addressed investment policy statement revisions, including a conflict policy draft and annual certification. The director's report covered administrative items such as board scheduling, budget updates, proposed legislation, an audit questionnaire, an investment consultant RFP update, and legal status updates, alongside requirements for ethics and sexual harassment training.

The agenda for the meeting includes the election of officers, presentations from real estate managers regarding property funds, and a review of financial reports. Key items involve the actuarial report covering the employer rate and contract renewal, an investment report with market performance updates, and a director's report addressing the legislative session, fiscal year budget approval, and ethics disclosures.

The board meeting agenda includes the review and action on September financials and retirement activity. The meeting will feature a financial audit presentation, an actuarial valuation report, and an investment report covering market performance, real estate education, and an investment manager update. Additionally, the Director's report will address upcoming legislation, a performance review, and the quarterly budget review.