The board conducted an annuity option appeal hearing, which resulted in a denial of the appeal. Updates were provided regarding pension administration and the annual services and investment fee report, both of which were approved. The board authorized the implementation of an online active participant portal and discussed quarterly investment performance across various plans, leading to decisions to replace or monitor specific investment managers. Additionally, the board authorized contract negotiations for financial and investment consulting services, appointed a representative to an RFP evaluation committee for actuarial services, adopted new rules of procedure, and approved the scope and cost for fiduciary training.
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The board discussed the conduct of the meeting as an all-virtual session. The primary agenda item involved the Segal Experience Study, where the board reviewed economic assumptions and their financial impact, ultimately approving the study results and setting an effective date for plan changes. Additionally, an update on the Request for Proposals (RFP) for Financial and Investment Consulting Services was provided, outlining the procurement timeline, the recent pre-proposal conference, and the upcoming evaluation process.
May 20, 2026·Board meeting
Retirement Board Meeting Agenda
The board agenda includes several action items, such as the review and approval of an experience study and economic assumptions, the election of board officers, and decisions regarding the fiscal year budget and position conversion. Informational sessions cover an online participant portal demonstration, quarterly performance reports for various retirement and OPEB plans, a presentation on annual board reports, communication updates, accessibility compliance, and training reports. Additionally, the agenda covers project updates on cybersecurity policies, AI governance, pension plan restatements, and a financial and investment consulting request for proposal.
