James H. Monagle

The board meeting agenda includes a review of the system's actuarial valuation, the approval of financial warrants, and the consideration of numerous superannuation retirement applications. Additional items include processing redeposit and make-up contributions, refund applications, an accidental disability application for a patrol officer, and the issuance of an RFP for portfolio monitoring services. The board will also address the board election results, discuss social media policy, review PERAC memos, and examine various financial reports and correspondence.

The board meeting agenda includes the review of financial warrants, the consideration of various superannuation retirement applications, and the handling of member contribution make-ups, redeposits, and refund applications. Key topics include an accidental disability benefit application for a firefighter, the acceptance of the 2025 Annual Statement, contract extension discussions for backup legal counsel, a review of staff salaries, and policy considerations for social media usage. Furthermore, the meeting covers regulatory updates from PERAC, an executive session, reports from the Chairman and Executive Director, and various informational items regarding investment performance, budget developments, and portfolio monitoring reports.

The Board addressed various administrative and financial matters, including the approval of service warrants and retirement applications. Discussions were held regarding pest control service contracts, make-up contributions for various members, and multiple refund applications. The Board reviewed several disability and accidental death benefit applications, granting benefits in specific cases while tabling others for further review. Additionally, the Board approved a 3% cost of living adjustment for retirees and beneficiaries and voted to terminate the contract with backup legal counsel following an Inspector General report. The Board also reviewed various PERAC memos and requested an analysis on the impact of private credit market conditions on the investment portfolio.

The board meeting covers a broad agenda including payment of warrants, review of superannuation retirement applications, and consideration of retirement contribution make-ups and refund applications. The board will also discuss executive session minutes and multiple accidental disability and accidental death benefit applications. Furthermore, the meeting includes deliberation on a cost-of-living adjustment for retirees, legal matters concerning the Sacco & Collins Law Office, review of PERAC memos regarding training and disability forms, and administrative reports from the Chairman and Executive Director. Various informational reports, including financial statements and manager disclosures, are also slated for review.

The Board conducted the 2025 performance review, analyzing investment returns, asset allocation, and cash flow across multiple asset classes and portfolios, including fixed income and emerging markets debt. Presentations were delivered by various institutional asset management firms regarding their portfolio strategies, performance benchmarks, and market outlooks. The Board specifically reviewed underperformance issues in certain high-yield holdings. Furthermore, the Board discussed the potential for an infrastructure manager review and authorized the issuance of a Request for Proposal for an infrastructure manager.