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San Jose retirement board appoints labor negotiators for CEO and CIO reviews
Summary
The Federated Retirement System board designated negotiators to lead compensation talks with police and fire counterparts ahead of annual executive reviews; trustees discussed but deferred broader term‑limit policy changes.
The San Jose Federated Retirement System Board of Trustees on an August meeting appointed negotiators to lead annual compensation discussions for the system's top executives.
The board voted to designate the board chair as the labor negotiator for the chief executive officer’s annual review and to designate the investment committee chair as the labor negotiator for the chief investment officer’s review. Trustees said the negotiators will coordinate with the police and fire retirement board negotiators so the systems can present a unified position in closed‑session compensation negotiations.
Trustees discussed whether past practice—assigning these roles to the board chair (CEO) and the investment committee chair (CIO)—should continue or whether the board should consider rotating the role or setting term limits for negotiators. Members and the board’s new governance consultant said there is no single industry standard because San Jose’s governance structure (separate boards for common staff) is uncommon; the consultant recommended considering term limits in a broader governance review. The chair and trustees agreed that such a discussion should be added to a future agenda item and to the board’s governance review work, but they made the appointments at this meeting so closed‑session performance reviews could proceed.
After asking whether a negotiator could be a trustee not present at the meeting, the board confirmed that a trustee who is not present may be designated; the board also noted Trustee Chandra had told the chair he would serve as negotiator if selected. With that assurance, the board moved and approved appointing the investment committee chair as the CIO negotiator and the board chair as the CEO negotiator.
The board then convened into closed session to conduct the executive staff evaluations.
The appointments were made by voice/raise‑hand votes; trustees did not record a roll‑call tally in the public transcript.
No formal change to policy was adopted at the meeting on negotiator terms; trustees instructed staff to place consideration of negotiator term limits and a holistic evaluation‑process review on a future agenda so the governance consultant can participate.
