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Public commenters press board on funding, CIO post and trustee residency; staff outlines hiring, open enrollment and portal updates
Summary
Public commenters urged scrutiny of staffing, asked whether a chief investment officer is necessary and questioned trustee residency; staff announced a benefits promotion, open enrollment dates, a new member portal and plans to request a deputy chief investment officer classification.
Several public commenters used the general comment period to press trustees on the plan's funded status, the value of an in-house chief investment officer and governance issues.
Brad Himamura told trustees he had heard the federated plan's funded status was in the low sixties and urged action, comparing San Jose's approach to the City of Fresno (which he said has a reported funding level of about 85.9 percent). Masaru Yoshimoto, a retired city employee, recommended more trustee site visits to money managers and questioned the need for separate police and fire and federated…
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