San Francisco City Retirement Board heard a presentation of the 07/01/2024 actuarial valuation, approved a 2% basic COLA effective 7/1/2025 and a 4% credited interest rate, adopted the valuation and employer contribution rate, received a clean audit report for FY2024, approved the annual report and departmental budgets, revised board meeting cadence, and selected Galliard as the Deferred Compensation Plan stable value manager.