Minutes, consent calendar and several board elections approved; SFDCP investment policy and stable-value guidelines adopted

The San Francisco Retirement Board took several routine and governance actions during its May 14, 2025 meeting, approving minutes, adopting the consent calendar, electing leadership and approving two Deferred Compensation Plan policy items.

The board voted to adopt the minutes from the March 12, 2025 retirement board meeting and the April 18, 2025 special retirement board meeting after a motion to “Move to adopt the minutes for both meetings.” The motion was seconded and the chair called the vote; the motion carried.

The board then approved the consent calendar as submitted; the motion was seconded and the chair called the vote. The consent calendar passed.

The board elected new leadership: Commissioners elected AJ (first name used in the transcript) to serve as board president effective at the June meeting date to be finalized by the board, and elected a vice president by motion, with both motions moved and seconded on the record and approved by voice vote.

Two Deferred Compensation Plan items were approved after committee review. The board approved revisions to the SFDCP investment policy statement (the IPS), which the Deferred Compensation Committee had forwarded with unanimous approval; the board chair called the vote and the motion passed. Separately, the board approved updated SFDCP stable-value guidelines, which the Deferred Compensation Committee had reviewed and forwarded; the motion to adopt those guidelines was moved, seconded and approved.

Where recorded on the transcript, each action was put to a voice vote and carried; the record shows no callers for public comment on these items and no recorded roll-call tallies in the public transcript. Specific vote tallies and mover/second names were not recorded in the public transcript for these motions and therefore are not stated here.