Public School Retirement System of the City of St. Louis

The committee held an investment meeting that included an executive session for confidential discussion on contract matters. The primary agenda focus was a comprehensive review of the investment portfolio's performance, asset allocation, and market outlook. Discussions covered the performance of specific equity and fixed income managers, the status of diversification strategies, and the impact of recent rebalancing efforts. The committee also noted updates on real estate investments and discussed upcoming fee structure adjustments.

The Board of Trustees meeting covered several key administrative and operational topics. Highlights included the recognition and honoring of former trustees, the appointment of committee co-chairs for the upcoming year, and a discussion on the Medicare Advantage benefit plan. The Board also addressed legislative efforts regarding funding caps, the upcoming retirement of an insurance specialist, and the transition to a new maintenance service provider. Plans were also initiated to improve outreach to retirees regarding available benefits, including potential town hall meetings.

The committee reviewed the second quarter investment report presented by investment consultants. Discussions covered market performance across various asset classes, including large cap and small cap equities, international stocks, and fixed income. The committee analyzed factors contributing to market volatility, the impact of artificial intelligence-focused stocks on index performance, and the importance of diversification in managing portfolio risk and meeting actuarial return assumptions.

The board meeting agenda included reports from the executive director, investment consultant, and actuary. Presentations were heard from interested parties, and the board reviewed consent agenda items regarding retirements, benefits, and refund distributions. Discussions also covered unfinished business, committee reports including benefits, trustee business, investment, and legislative matters, as well as new business and a report from the attorney.

The board meeting included the approval of retirement benefits for March and April 2026, as well as the approval of refunds and bills for February and March 2026. The executive director provided updates regarding the system's social media presence on LinkedIn and Facebook, and discussed upcoming conference opportunities for trustees. Additionally, the board received a presentation from the firm Williamskeepers concerning the financial statements and the independent auditor's report for the fiscal year ending December 31, 2025, which received an unmodified clean opinion. Key financial highlights discussed included an increase in total assets, positive net investment income, and an increase in member contributions.