Board of Pensions Santa Clara Valley Transportation Authority Amalgamated Transit Union Local 265 Pension Plan Summary Minutes
The Board convened to address several administrative and financial items. Closed session discussions were held regarding employee retirement requests. Significant attention was given to deferred vested retirement calculations and actuarial methodologies, as well as inconsistencies found in the application of military service credits; both issues prompted requests for formal legal opinions. The Board authorized increases in contract authority for actuarial services, approved the minimum qualifications and evaluation criteria for a private credit investment manager search, and adopted updates to the Investment Policy Statement and Manager Monitoring Policy. Additionally, the meeting included a review of educational opportunities for trustees and staff, as well as a presentation on investment performance reports.
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The Board of Pensions meeting agenda includes the consideration of requests for service pensions, educational program attendance by board members and staff, and a demonstration of the Pension Gold system. The board will review quarterly performance reports, conduct a closed session for private equity manager interviews and final selection, and discuss wage type pensionable classifications. Additionally, the agenda covers a quarterly budget review, an update on separated employees' distribution and final benefit payments, reports from the investment committee and chairperson, and a review of the board's work plan.
May 7, 2026·Board meeting
Vta Board Of Directors Regular Meeting
The meeting included a moment of silence for a former transit leader, recognition of retirees, and public comments regarding immigration policy, paratransit fees, and future transit projects. The board also received reports from the Citizens Advisory Committee and a briefing from the General Manager regarding federal legislative efforts and transit readiness for upcoming major events.
Apr 14, 2026·Board meeting
Board Of Pensions Summary Minutes
The Board discussed and approved several service pension requests and authorized the exercise of final option periods for actuarial service contracts for the ATU Pension Plan, Spousal Medical Fund, and Retiree Dental/Vision Trust Fund. Staff received approval for a one-year extension of PBI Audit Services alongside the initiation of a new RFP for these services. A digitization project for legacy microfiche records was approved to support the rollout of new software. The Board received performance reports, including a review of the global economic climate and fund asset performance. Additionally, the Board initiated the formation of a subcommittee to overhaul the travel and expense policy, reviewed the pension work plan, and discussed future agenda items including a software demonstration and PEPRA wage code review.
