Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Meeting Procedure topic
No spam. Unsubscribe anytime.
Board approves prior minutes; schedules next valuation report and asks staff to draft policy changes
Summary
At its Sept. 15 meeting the board approved the previous meeting minutes by voice vote, asked the actuary to include the new mortality assumption in the next valuation (to be presented in March), and directed staff and counsel to work with the investment adviser on potential policy language implementing the state's scrutinized‑companies guidance.
The General Employees Pension Board approved the previous meeting minutes by voice vote after Speaker 6 moved and the clerk seconded the motion. The chair called for favor, asked for opposition and then declared the motion approved.
Following approval, trustees received the Foster & Foster actuarial briefing and confirmed the actuary will include the new FRS‑linked mortality assumption in the next valuation; the actuary said he will present updated valuation figures at the next meeting (noted for March). Trustees were also advised by counsel (Bonnie) to coordinate with staff and the investment adviser to draft an amendment to the investment policy that would mirror the State Board of Administration’s scrutinized‑companies guidance and contract language for terminations if a counterparty is placed on that list.
No additional formal votes or adoptions were recorded in the transcript. Staff tasks recorded in the meeting minutes include preparing the approved minutes for filing, scheduling the next actuarial presentation and drafting recommended policy language for trustee consideration.
