Retirement trust introduces new staffer and says lobbyists are monitoring proxy-voting legislation

Robert Esch, the retirement trust's executive director and legal advisor, introduced Roman Sandoval as a newly hired staff member with experience in the City of El Paso human resources department and said Sandoval will assist during a transition as long-tenured staffer David Garcia departs next month. "Mister Sandoval comes to us with experience with the city of El Paso where he worked in the human resources department," Esch said.

Esch used his report to update trustees on legislative and regulatory matters that could affect the fund. He said lawmakers and lobbyists have been engaged around an interim charge stemming from House Bill 2337 (discussed in prior sessions), which deals with proxy firms and restrictions on proxy voting practices. "There's 2 main proxy voting firms in the country. They filed suit against the state of Texas," Esch said, and he added that a presidential executive order addressing diversity and inclusion has introduced potential federal enforcement that could change the legal landscape.

Esch said trustees have asked lobbyists and the executive committee to keep the board apprised and to play defense if legislation would limit the ability of municipalities to hire lobbyists or otherwise restrict the fund's operations. "We're keeping an eye on that because obviously, if that were to gain traction, we'd want an exemption for pension funds," a trustee said in the discussion.

On operational items, Esch reminded trustees the Techsporters summer educational forum will be Aug. 2'4 in San Antonio at the Westin on the Riverwalk and noted adjusted office hours for Memorial Day and other holidays.

The board received Esch's report and had no public commenters during the open comment period; the meeting subsequently adjourned.