Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Reports Votes topic
No spam. Unsubscribe anytime.
GERS board approves minutes, treasurer’s and investment reports; FY2026 budgets deferred to executive session
Summary
On Sept. 25 the GERS Board approved the minutes from Aug. 21, accepted the treasurer’s receipts/disbursements report for August and accepted the investment officer’s report for the period ending Aug. 31; trustees deferred some FY2026 budget discussion to executive session because it included personnel items.
The Government Employees Retirement System Board of Trustees approved the minutes of the Aug. 21, 2025 meeting and accepted the treasurer’s and investment officer’s reports at its Sept. 25 meeting.
A motion to approve the secretary’s minutes for Aug. 21 was moved and seconded and passed by roll call. Trustees who voted yes on the minutes as recorded in the transcript included Trustee Clark, Trustee Dorsey, Trustee Leger, Trustee Russell, Trustee Smith and Trustee Howard.
The treasurer’s report for the month ending Aug. 31, 2025, presented at the meeting, showed collections for August including loan repayments ($751,463 for the month), rent from tenants ($100,697), employer retirement contributions ($10,900,000) and employee retirement contributions ($5,800,000). The presenter said total collections for August were $17.9 million and year-to-date collections were $256,293,761. The report listed total disbursements for August at $26.2 million, producing a net cash deficit for the month of about $8.3 million and a year-to-date net cash deficit of about $31.4 million. The Haven site (Havensight Mall) collections and disbursements were reported separately; collections for the mall for August were $602,902 with a month net cash deficit of about $252,000 and a year-to-date surplus of $143,537.
Trustees moved to accept the treasurer’s report and the motion carried by roll call.
The investment officer delivered an update as of Aug. 31, 2025, describing market performance in the quarter and allocation details. The presenter said the total plan returned about 2.2% for the month (fiscal-year-to-date return of 10.2%) and that the fund’s market value at the end of August was approximately $485 million. Allocation highlights reported included roughly $157 million in domestic equity, $70 million in developed market equity, $23 million in emerging markets, $88 million in investment-grade bonds, $42 million in U.S. TIPS, $44 million in high-yield bonds and about $55 million in real estate (including Havensight Mall and land holdings). The investment officer said the board raised $20 million in the month to meet cash needs and described how those funds were sourced and reallocated.
A motion to accept the investment officer’s report passed by roll call. No trustee opposed the recorded votes on these three items in the open session transcript.
Board discussion about the FY2026 GERS and Havensight Mall budgets was moved to executive session because trustees said the materials contained personnel salary details not appropriate for public discussion. The transcript records the trustees’ decision to address those budget and personnel clarifications in closed session.
