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Votes at a glance: ISERS board actions March 19, 2025
Summary
The ISERS board approved several routine and substantive items on March 19, including minutes, a GASB 67 correction, appointment of voting delegates to the SACRS spring conference, adoption of investment policy allocation changes, formation of a triennial governance review committee, and entry to a closed session (no reportable action).
The ISERS retirement board took the following recorded actions at its March 19 regular meeting.
- Approve agenda and consent agenda: The board approved the meeting agenda and the consent agenda by voice vote.
- Approve minutes (02/19/2025 adjourned regular meeting): Motion to approve the minutes carried by voice vote.
- Approve revised GASB 67 report sections (agenda item 5): The board voted to approve the corrected GASB 67 schedules after actuary Andy Young explained a small misallocation of market assets between safety and general employers. (See separate article for detail.)
- Appoint voting delegate and alternate for SACRS spring conference (agenda item 6): Trustees nominated and approved Scott as voting delegate and Trustee David H. Prince as alternate for the SACRS 2025 spring conference; the motion carried by voice vote.
- Adopt investment policy allocation changes (agenda item 7): Trustees formally adopted the changes to asset allocation targets and ranges recommended by investment consultant Verus; staff will incorporate redline changes into the policy manual and reflect the new targets in next month’s target table.
- Form ad hoc governance committee for triennial review (agenda item 8): The board nominated and approved three trustees (Carl, Jennifer, and Jose) to serve on an ad hoc committee to assist with the triennial review of bylaws and governance policies; staff indicated additional members (Trish, Scott, Angie) would also support the review as needed.
- Enter closed session and reportable action: The board moved into closed session to consider potential sale of an investment property and an update on Imperial County deputy sheriff litigation. The public report after closed session stated no reportable action was taken on those matters.
Where the transcript recorded only a voice vote, the public minutes reflect approval by the board; no roll‑call tallies were recorded in the audio transcript.
