Rosamond Cain

The January 27, 2026 meeting agenda included the approval of the December 16, 2025 public meeting minutes and comments from the Chief Investment Officer regarding portfolio performance, holdings updates, and the Work Plan, which requires action. Key presentations scheduled were The Townsend Group's Annual Portfolio Review, including the review of the Investment Plan for Calendar Year 2026 (action expected), and Callan's Annual Private Debt & Equity Review, focusing on the 2025 Private Equity, Private Credit, and Infrastructure Pacing Plan (action expected). There was also a scheduled presentation on Calendar Year 2026 Capital Market Assumptions and a review of the Public Global Equity Structure (action expected). Informational materials included the Callan Monthly Review for November 2025 and the FY 2025 Comprehensive Annual Investment Report. Subsequent documentation reviewed the December 16, 2025 draft meeting where the Committee renewed several agreements, including those with Abel Noser Solutions, ISS, Callan, and The Townsend Group, and unanimously approved commitments of $150 million to the BlackRock Private Equity Partners Co-Investment Program and up to $100 million to the KKR Global Infrastructure Investors V fund.

The agenda for the February 10, 2026 Board Meeting includes establishing a quorum and calling the meeting to order, followed by the approval of the December 9, 2025 minutes. Key discussion topics involve standing committee reports from Audit, Governance, Investment, Legislative, Benefits, and Personnel Performance and Compensation Committees (PPCC). Specific items under review include the FY 25 GASB 68 & 75 reports, contract amendments, Governance Manual revisions, investment reports, and legislative updates. The meeting also features presentations on Callan's Capital Market Assumptions and a Fiduciary Presentation by Groom Law. Operating reports cover Executive, IT, Legal, Investments, Member Services, Finance, Human Resources, and Public Information Office matters. Action items from the December 9, 2025 meeting are scheduled for review. The Board plans to enter non-public sessions to discuss cybersecurity mitigation strategies, real estate matters, litigation updates, and legal advice from counsel.

This strategic plan for the New Hampshire Retirement System outlines four key goals. These include building on the new pension administration IT platform and implementing a long-term retirement operations strategy to enhance service levels, improving organizational effectiveness and accountability through integrated reporting systems and potential restructuring, strengthening the Investment Office by building internal capabilities and reducing external resource reliance, and fostering organizational resilience through cross-training and succession planning.

The Personnel Performance and Compensation Committee meeting included an update on staffing, noting the resignation of the Applications Manager and the Director of Communications & Legislative Affairs. Recruitment efforts are underway for several open positions, including an ID Software Solutions Manager, Investment Administrative Assistant, Head of Portfolio Administration, and Information Security Analyst. Additionally, new hires were reported for the positions of Executive Assistant, Legal, and IT Operations Engineer II. The committee also received an update regarding the NHRS Holiday Party and Spirit Week.

The Benefits Committee meeting addressed the approval of one disability application on the Consent Agenda. A primary agenda item was the annual review of the Committee's charter, which involved comprehensive review by outside counsel, leading staff to recommend revisions for improved readability and clarification regarding scheduling, attendance, and voting. The committee voted unanimously to recommend the adoption of these amended revisions to the full Board. Furthermore, the Committee voted to recommend that the Board approve the Calendar Year 2024 Gainful Occupation Compliance Report.