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Federated board approves consent calendar, procurement policy and maintains committee assignments; work plan approved
Summary
At its Jan. 16 meeting the San Jose Federated Retirement System approved the consent calendar, adopted an updated procurement policy, maintained standing committee assignments and approved a governance work plan; all recorded votes were unanimous roll-call approvals.
The San Jose Federated Retirement System board approved several governance and administrative items Jan. 16, including the consent calendar, an updated procurement policy and the governance work plan. Trustees also voted to maintain existing standing committee assignments until the board fills an upcoming trustee vacancy.
The board opened by approving the consent calendar by roll call after no public comments. Trustee Linder moved the motion and Trustee Avasti seconded; the recorded votes were unanimous.
In governance business, the board considered an updated procurement policy that aligns language with city finance and municipal terminology and standardizes policy review frequency to every five years. Barbara Flynn, CEO, and staff reviewed minor edits suggested by the city’s Finance Department and legal counsel. Trustee Abbott moved to adopt the updated procurement policy; Trustee Avasti seconded. A roll call showed unanimous approval.
Trustees then reviewed and voted to continue current standing committee assignments. With Trustee Linder moving the motion and Trustee Jennings seconding, the board recorded a unanimous roll-call vote to keep assignments unchanged while stating the chair will revisit assignments after the board’s next trustee selection.
The board also reviewed a 2025 governance work plan prepared by Cortex (governance consultant). Staff and Cortex representatives described a multiyear schedule of policy and charter reviews and noted potential gaps such as an enterprise risk-management policy and a stronger operational-monitoring dashboard. The board voted to approve the Cortex memo and work plan; the motion passed by unanimous roll call.
Staff told trustees legal- and actuarial-services procurements are underway with RFP posting and timelines: the legal-services RFP closes Jan. 24 and actuarial and governance RFPs close Jan. 31. Staff said they expect contract recommendations later in the spring and will coordinate ad hoc review committees.
The board took no changes to governance policy beyond the procurement-policy edits adopted at the meeting. In each case trustees acted by roll-call vote with all present voting aye.
