Employees' Retirement System of the Government of the Virgin Islands

The meeting agenda includes a series of reports, specifically the Chairperson's report, Administrator's report, Committee reports, Treasurer's report, and Investment Officer's report. Additionally, the meeting provides an opportunity for comments and suggestions from both retirees and active members, followed by an open forum for privileges of the floor.

The agenda for the Board of Trustees meeting includes reports from the Chairperson, Administrator, Treasurer, and Investment Officer, alongside committee reports. The session also allows for communications, correspondences, and comments from both retirees and active members, and provides for privileges of the floor.

The meeting agenda included comments and suggestions from both retirees and active members, followed by various reports from the chairperson, administrator, committees, treasurer, and investment officer. An executive session was scheduled to address legal and financial matters, specifically regarding a board counsel memorandum concerning contributions.

The Board of Trustees held a special meeting primarily to conduct the election of a new Chair following the resignation of the incumbent. The former Chair provided a detailed explanation for their departure, citing objections to a recent Board decision regarding the administrator's salary increase. Discussion ensued regarding the transparency of the election process, leading to a vote conducted via text message. Additionally, the Board discussed rescheduling upcoming committee meetings due to concerns regarding the availability of timely performance reports and potential scheduling conflicts.

The Board reviewed the treasurer's report, discussing cash flow challenges, annuity payment growth, and administrative expenses, including legislative funding requests. The Investment Portfolio update was presented, noting performance gains in domestic and international equities. Additionally, the Board approved the establishment of a $1,500 petty cash fund for the Havenside Mall office and discussed the ongoing search for an administrator.