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Votes at a glance: trustees approve minutes, a DROP retirement, IPS amendment and ordinance on in‑service distributions
Summary
At its Oct. 23 meeting the General Employees Pension Plan Board of Trustees voted unanimously to approve Sept. 25 minutes, approve a DROP retirement request for Kelly Bollin, amend the Investment Policy Statement to add state anti‑boycott language and move asset allocation to Exhibit A, and adopt an ordinance enabling certain in‑service
The General Employees Pension Plan Board of Trustees recorded four formal actions at its Oct. 23, 2025 meeting. All motions passed unanimously.
1) Approval of minutes. Motion: Approve minutes of the Sept. 25, 2025 meeting. Motion by Trustee Keeler; second by Vice Chair Nicholas. Outcome: Passed unanimously.
2) DROP retirement approval. Motion: Approve DROP retirement request for Kelly Bollin (20.4 years of service; elected lifetime‑only option). Motion by Trustee Keeler; second by Vice Chair Nicholas. Outcome: Passed unanimously.
3) Investment Policy Statement (IPS) amendment. Motion: Amend the IPS to move asset allocation language to Exhibit A and add the statutory anti‑boycott provision (language addressing boycotts of Israel as required by state law). Motion by Treasurer Strickland; second by Vice Chair Nicholas. Outcome: Passed unanimously. Note: staff will file the updated IPS with the state as required; the change was described as administrative plus the single substantive insertion addressing the state law.
4) Ordinance on in‑service distributions. Motion: Adopt proposed ordinance to permit in‑service distributions (first reading/advertising steps to follow). Motion made from the chair, seconded by a trustee. Outcome: Passed unanimously. Staff and counsel were instructed to expedite ordinance materials for the newspaper legal ad and to coordinate the public‑hearing schedule with the commission; trustees discussed effective‑date options to minimize disruption for employees approaching DROP separation.
Vote tabulation: Trustees present at roll call were Chair Chaplain, Vice Chair Nicholas, Treasurer Strickland, Secretary Griggs, Trustee Thornburg, Trustee Reardon and Trustee Keeler. Each recorded motion was announced as passing unanimously; no roll‑call dissent or recorded abstentions were indicated in the meeting transcript.
