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Board delays final vote on revised investment policy statement, seeks more review
Summary
Trustees discussed proposed redline revisions to the Federated plan’s investment policy statement (IPS), agreed the document should be shortened and clarified, and deferred action until the June meeting so trustees can review the redlines.
SAN JOSE — Trustees of the San Jose Federated City Employees Retirement System discussed a proposed rewrite of the pension fund’s investment policy statement (IPS) at length on Thursday but agreed to defer a final vote to allow trustees more time to review the redlined draft.
Chair Horowitz said the proposed redline was voluminous and that several trustees had not had time to review it fully. “I think it is my judgment that we defer action on this item until the June meeting,” he said. Counsel qualified remote participation under the Brown Act and confirmed the board could consider the late‑posted redlines today but that it would be reasonable to treat the meeting as a…
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