Meeting Name: Federated City Employees' Retirement System and Federated City Employees' Health Care Trust Agenda status: Final-revised
Meeting date/time: 8/21/2025 8:30 AM Minutes status: Final  
Meeting location: City Hall, Wing Rooms 118-120 200 E. Santa Clara St. San Jose, CA 95113
Published agenda: Agenda Agenda Published minutes: Minutes Minutes Meeting Extra1: FED Board 8-21-25 audio  
Attachments:
File #Ver.Agenda #NameTypeTitleActionResultAction DetailsVideo
14-9433 1A. ItemCLOSED SESSION: PUBLIC EMPLOYEE PERFORMANCE EVALUATION PURSUANT TO GOVERNMENT CODE SECTION 54957(b)(1). Position: Chief Investment Officer.   Action details Not available
14-9434 1B. ItemCLOSED SESSION: PUBLIC EMPLOYEE PERFORMANCE EVALUATION PURSUANT TO GOVERNMENT CODE SECTION 54957(b)(1). Position: Chief Executive Officer.   Action details Not available
14-9521 1C. ItemCLOSED SESSION: CONFERENCE WITH LABOR NEGOTIATORS PURSUANT TO GOVERNMENT CODE SECTION 54957.6(a). Agency designated representatives: To be determined in open session at the meeting.   Action details Not available
14-9557 1a. Service RetirementClaudia Hernandez, Literacy Program Specialist, Library Department, effective September 14, 2025; 33.82* years of service.   Action details Not available
14-9436 1b. Service RetirementOscar Madrigal, Wastewater Operator III, Environmental Services Department, effective August 16, 2025; 26.84* years of service. (With Reciprocity - 9.06 PERS + 17.78 PERS = 26.84 YOS)   Action details Not available
14-9547 1c. Service RetirementRon D. Morimoto, Wastewater Operator II, Environmental Services Department, effective July 25, 2025; 17.33* years of service.   Action details Not available
14-9440 1d. Service RetirementJames B. Powars, Environmental Laboratory Supervisor, Environmental Services Department, effective August 20, 2025; 30.00* years of service.   Action details Not available
14-9458 1a. Deferred VestedLaura A. Biersdorff, Police Communications Manager, Police Department, effective September 10, 2025; 22.33* years of service.   Action details Not available
14-9448 1b. Deferred VestedDeNell L. Dellinger, Public Safety Communication Specialist, Police Department, effective August 25, 2025; 10.05* years of service.   Action details Not available
14-9441 1c. Deferred VestedBrian C. Hopper, Senior Deputy City Attorney, City Attorney’s Office, effective September 2, 2025; 25.49* years of service. (With Reciprocity - 10.71 CSJ + 14.78 PERS = 25.49 YOS)   Action details Not available
14-9429 1d. Deferred VestedJennifer L. Pousho, Senior Deputy City Attorney, City Attorney’s Office, effective July 19, 2025; 23.60* years of service. (With Reciprocity - 20.18 CSJ + 3.42 PERS = 23.60 YOS)   Action details Not available
14-9446 1e. Deferred VestedGloria C. Teerman, Therapeutic Specialist, Parks, Recreation and Neighborhood Services, effective August 29, 2025; 14.21* years of service.   Action details Not available
14-9554 1a. Early Deferred VestedCourtney D. Riddle, Supervising Environmental Services Specialist, Environmental Services Department, effective August 1, 2025; 9.17* years of service. (With Reciprocity - 4.13 CSJ + 5.03 PERS/CCCera = 9.17 YOS)   Action details Not available
14-9407 1a. Board Minutes ApprovalApproval of the Board Minutes of June 26, 2025.   Action details Not available
14-9408 1a. Return ContributionsVoluntary | Involuntary   Action details Not available
14-9422 1a. Communication and Information ReportReport of the Monthly Board Expenses for July 2025. Receive and file.   Action details Not available
14-9427 1b. Communication and Information ReportORS’s Quarterly Newsletter - The Retirement Connection: July 2025 Edition.   Action details Not available
14-9570 1c. ItemRatification of revisions to Federated’s Investment Policy Statement, as amended and modified by the Board at its June 26, 2025 Board meeting, and related approval of Resolution number 9126 regarding revisions to Investment Policy Statement.   Action details Not available
14-9552 1d. Communication and Information ReportEducational Travel Reports: · Public Funds Summit East 2025, Newport Marriott, Newport, RI, July 21 - 23, 2025 by Matthew Faulkner. · SACRS Public Pension Investment Management Program 2025, UC Berkeley Haas School of Business, Berkeley, CA, July 13 - 16, 2025 by Nathan Nakagawa.   Action details Not available
14-9439 1a. Travel/Conference AttendanceJohn Flynn, CEO · CALAPRS Administrators Institute 2025, The Quail Lodge, Carmel, CA, September 24 - 26, 2025. · CALAPRS Virtual Information Technology Round Table, October 10, 2025. · CALAPRS Virtual Investments Round Table, November 21, 2025. · CALAPRS Virtual Benefits Roundtable, December 11, 2025. · NCPERS Accredited Fiduciary (NAF) Program (Module 1 & 2), Omni Fort Lauderdale Hotel, Fort Lauderdale, FL, October 25 - 26, 2025. · NCPERS Fall Conference, Omni Fort Lauderdale Hotel, Fort Lauderdale, FL, October 26 - 29, 2025.   Action details Not available
14-9456 1b. Travel/Conference AttendanceMatthew Faulkner, Trustee · MarketsGroup ALTSSF, The Ritz Carlton Hotel, San Francisco, CA, September 3, 2025.   Action details Not available
14-9526 1c. Travel/Conference AttendancePrabhu Palani, CIO · FIS Stanford 2025, Stanford University, Stanford, CA, September 16 - 18, 2025. · Collective Global 2025 Founders’ Summit, Grand Hotel, Stockholm, Sweden, September 22 - 24, 2025.   Action details Not available
14-9553 1d. Travel/Conference AttendanceReimbursement · NCPERS 2025 Chief Officers Summit, New York Marriott Downtown, NY, June 16 - 18, 2025 - John Flynn. · SACRS Public Pension Investment Management Program 2025, UC Berkeley Haas School of Business, Berkeley, CA, July 13 - 16, 2025 - Nathan Nakagawa.   Action details Not available
14-9507 1a. Termination of Retirement BenefitsApproval of request from Edward Jalalli to terminate retirement benefits effective August 30, 2025, allowing for reinstatement into the Plan effective August 31, 2025. (Service Retirement effective February 15, 2025, approved at the January 16, 2025, Board meeting).   Action details Not available
14-9539 1a. ItemApproval for a first name correction for Manuel Rivas from July 17, 2025, for a Service Retirement approved at the June 26, 2025 Board meeting.   Action details Not available
14-9409 1a. InvestmentsOral update from the CIO of Retirement Services, Prabhu Palani.   Action details Not available
14-9533 1b. InvestmentsDiscussion and action on the results of the Request for Proposals (“RFP”) for Trading Cost Analysis/Foreign Exchange Trading Cost Analysis (“TCA/FX TCA”) provider, including Board authorization for the Chief Executive Officer (“CEO”) to negotiate and execute an agreement with ACA Group for a term of three (3) years for an amount not-to-exceed $56,250.   Action details Not available
14-9410 1a. ItemOral update from the CEO of Retirement Services, John Flynn.   Action details Not available
14-9421 1b. ItemOral update from the City Council Liaison to the Board.   Action details Not available
14-9522 1c. ItemDiscussion and action of appointment of Labor Negotiator for the Chief Executive Officer position.   Action details Not available
14-9523 1d. ItemDiscussion and action of appointment of Labor Negotiator for the Chief Investment Officer position.   Action details Not available
14-9454 1e. ItemDiscussion and action on the results of the Request for Proposal (“RFP”) for Disability Medical Services, including Board authorization for the CEO to negotiate and execute: · a six-year agreement with four one-year options to extend with Exam Works for an amount not to exceed $720,000.   Action details Not available
14-9564 1f. ItemDiscussion and action on the results of the Request for Proposal (“RFP”) for Disability Medical Services, including Board authorization for the CEO to negotiate and execute: · a six-year agreement with four one-year options to extend with MMRO for an amount not to exceed $250,000.   Action details Not available
14-9428 1g. ItemDiscussion and action on the 2026 Scheduled Board and Standing Committee Meetings.   Action details Not available
14-9411 1a. ItemOral update from the Chair of the Investment Committee.   Action details Not available
14-9412 1a. ItemOral update from the Chair of the Audit/Risk Committee.   Action details Not available
14-9430 1b. ItemDiscussion and action to accept 25 internal audit recommendations as “Complete” in the absence of an internal auditor.   Action details Not available
14-9435 1c. ItemDiscussion and action on FY 2024 - 2025 Office of Retirement Services Plans Audit Plan by Macias Gini & O’Connell LLP (MGO).   Action details Not available
14-9413 1a. ItemOral update from the Chair of the Governance Committee. · Introduction of Governance Consultant Aon. · Discussion and Action on the Strategic Plan Stakeholder Survey groups.   Action details Not available
14-9431 1b. ItemMinutes of the Joint Governance Committee meeting from March 14, 2025. Receive and file.   Action details Not available
14-9414 1a. ItemOral update from the Chair of the Disability Committee. · Federated Quarterly Disability Retirement Applications Dashboard.   Action details Not available
14-9432 1b. ItemMinutes of the Federated Disability Committee meeting from June 3, 2025. Receive and file.   Action details Not available
14-9415 1a. ItemOral update from the Chair of the Joint Personnel Committee.   Action details Not available
14-9449 1a. ItemOral update from the Joint Audit Adhoc Committee.   Action details Not available
14-9504 1a. ItemOral update from the Actuarial Services Joint Adhoc Committee.   Action details Not available
14-9418 1a. Education & TrainingCALAPRS 2025 Program Calendar.   Action details Not available
14-9419 1b. Education & TrainingCALAPRS Virtual Trustees’ Roundtable, October 3, 2025.   Action details Not available
14-9426 1c. Education & TrainingNCPERS Program for Advanced Trustee Studies (PATS), Omni Fort Lauderdale Hotel, Fort Lauderdale, FL, October 25 - 26, 2025.   Action details Not available
14-9437 1d. Education & TrainingNCPERS Fall Conference, Omni Fort Lauderdale Hotel, Fort Lauderdale, FL, October 26 - 29, 2025.   Action details Not available
14-9550 1e. Education & TrainingPension Bridge, Alternative Conference, Quorum Convene, New York City, NY, October 28, 2025.   Action details Not available
14-9420 1f. Education & TrainingSACRS Fall Conference 2025, Hyatt Regency Huntington Beach Resort & Spa, Huntington Beach, CA, November 11 - 14, 2025.   Action details Not available
14-9551 1g. Education & TrainingCALAPRS Virtual Investments Round Table, November 21, 2025.   Action details Not available
14-9425 1h. Education & TrainingCALAPRS Advanced Course in Retirement Plan Administration, Avenue of the Arts Costa Mesa, Costa Mesa, CA, December 3 - 5, 2025.   Action details Not available