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CEO: ORS fills senior accountant post, posts RFPs for legal, actuarial and governance services; retiree payments scheduled in February
Summary
ORS CEO John Flynn reported a new senior accountant hire, three posted RFPs for professional services, plans to request a lease authorization in February and timing for retiree 1099s and guaranteed purchasing power payments.
John Flynn, CEO of the Office of Retirement Services, gave an oral update on ORS operations at the board meeting, announcing a completed internal recruitment, several active procurements and scheduling for retiree communications and payments.
Flynn told trustees that Nam Kao, a current ORS employee, has accepted the senior accountant position and is due to start the role on January 19, 2025. Flynn said ORS will recruit to fill the now‑vacant accountant position and hopes to fill the senior office specialist vacancy by February 2025.
Flynn said ORS had posted three requests for proposals (RFPs) before the holiday closure for legal services, actuarial and audit services, and governance services. The RFPs were posted on Biddingo and promoted via NCPRS and CalPERS channels; staff also emailed publicly available contacts for firms that work with California‑based pension funds. Flynn said he anticipates returning to the board in February to request authorization to negotiate and execute a new lease for ORS office space.
On retiree matters Flynn said retiree 1099 forms will be mailed by the end of January, and guaranteed purchasing power payments for qualifying members will be paid in February. He also explained changes tied to 415 limits for 2025 (the transcript records the 415 limit as $280,000) and said those adjustments will be reflected in March retirement payments for affected retirees. Flynn said the January Retirement Connection newsletter will be mailed later in the month and that ORS intends to default to digital distribution for the summer 2025 edition with instructions for members who wish to continue receiving paper copies.
Flynn’s update included a brief market performance note: unaudited estimates from Meketa showed the pension fund returned 3.6% and the Health Care Trust returned 3.18% as of Jan. 7 (figures that Flynn described as unaudited estimates).
