Retirement System trustees approve FY2026 budgets, approve travel stipend adjustment and introduce new deputy general counsel

The Retirement System Board of Trustees voted to adopt fiscal year 2026 budgets and approved a change to the system's travel stipend policy, and trustees were introduced to a newly hired deputy general counsel.

The approvals were taken in regular business after an executive session in which trustees discussed removal of a trustee and legal matters. Trustees voted separately to accept the fiscal year 2026 budget recommendation for GRS and to adopt a second FY2026 budget measure; both votes passed with five votes in favor and one trustee absent. The board also approved a motion to align the GRS travel policy with a recent adjustment, increasing the interisland stipend by $25 and the out-of-territory stipend by $50 so the organization has a consistent policy.

Why it matters: The board's budget approvals set the system's spending plan for the coming fiscal year and the travel-policy change standardizes reimbursement across the organization. The introduction of a deputy general counsel assigns additional legal staffing to the system's Saint Croix office.

Trustees took the budget votes after returning to the public record. A motion to accept the fiscal year 2026 budget for GRS was moved by Trustee Dorsey and seconded by Trustee Clark; the board recorded the motion as passing 5–0 with one absence. Trustees then moved and passed a second FY2026 budget motion by the same tally. The transcript records the roll calls and the board chair announced the counts as "5–0–1" for the motions.

Separately, the board approved an administrative change to the travel policy so that the GRS policy matches a previously adjusted stipend schedule. The change increases the stipend for interisland travel by $25 and increases the stipend for travel outside the territory by $50. Meeting remarks described the correction as addressing an oversight in a prior update and sought to create a single, consistent reimbursement policy across the organization. A motion to make the same adjustment to the GRS policy was made and seconded and passed by voice vote, recorded as five in favor and one absent.

During the meeting the board formally introduced Attorney Salena Chapman, who the transcript identifies as joining the legal team as deputy general counsel and as being based in the Saint Croix office with territorial responsibilities under General Counsel Ishmael Myers. Attorney Chapman said, "Good morning, board. My name is Salena Chapman. I have been working for the office of collective bargaining for, I believe, 8 years, and I am gracious and thankful for administrator Dawson and the executive team for hiring me for this position, and I'm excited to be on board." Administrator Dawson and several trustees welcomed Chapman on the record.

The transcript shows trustees asked questions about training and conference selection for employees. Trustees discussed that training opportunities are available organizationwide and that the system is shifting toward more tailored, specialized training in addition to broader conferences. The board did not record additional directive language in the transcript beyond the approvals and the personnel introduction.

Votes at a glance: - Motion: Accept FY2026 budget for GRS. Mover: Trustee Dorsey; seconder: Trustee Clark. Outcome: approved, tally recorded as 5 yes, 0 no, 1 absent. - Motion: Accept second FY2026 budget measure (transcript: "for hindsight"). Mover and seconder recorded; outcome: approved, tally recorded as 5 yes, 0 no, 1 absent. (Transcript does not specify the formal department name for the second budget item.) - Motion: Amend GRS travel policy to increase interisland stipend by $25 and out-of-territory stipend by $50 to match prior adjustments. Outcome: approved, tally recorded as 5 yes, 0 no, 1 absent.

The meeting adjourned after routine housekeeping remarks and the formal introductions.