Please note: this meeting's minutes have not been finalized yet. Actions taken on legislation and their results are not available.
Meeting Name: Federated City Employees' Retirement System and Federated City Employees' Health Care Trust Agenda status: Final
Meeting date/time: 10/16/2025 8:30 AM Minutes status: Draft  
Meeting location: City Hall, Wing Rooms 118-120 200 E. Santa Clara St., San Jose, CA 95113
Published agenda: Agenda Agenda Published minutes: Not available Meeting Extra1: Not available  
Attachments:
File #Ver.Agenda #NameTypeTitleActionResultAction DetailsVideo
14-9730 1a. Service RetirementJovette M. Armenta, Development Specialist, Housing Department, effective November 1, 2025; 26.36* years of service.   Not available Not available
14-9664 1b. Service RetirementNora V. Frimann, City Attorney, City Attorney’s Office, effective November 8, 2025; 24.92* years of service.   Not available Not available
14-9731 1c. Service RetirementThomas R. Martinez, Wastewater Operations Superintendent II, Environmental Services Department, effective October 23, 2025; 19.73* years of service.   Not available Not available
14-9732 1d. Service RetirementJudith M. Torrico, Deputy Director, Police Department, effective October 25, 2025; 30.00* years of service.   Not available Not available
14-9816 1a. Deferred VestedVictor Lam, Information Systems Analyst, Information Technology Department, effective September 22, 2025; 7.65* years of service.   Not available Not available
14-9801 1b. Deferred VestedSteven J. Levine, Deputy City Attorney, City Attorney’s Office, effective November 7, 2025; 28.18* years of service. (With Reciprocity - 2.13 CSJ + 26.04 PERS = 28.18 YOS)   Not available Not available
14-9713 1c. Deferred VestedMario A. Maciel, Division Manager, Parks, Recreation and Neighborhood Services, effective October 27, 2025; 25.37* years of service.   Not available Not available
14-9828 1d. Deferred VestedPatrick McCue, Program Manager II, Airport Department, effective September 30, 2025; 6.38* years of service.   Not available Not available
14-9733 1e. Deferred VestedLenka E. Wright, Assistant To The City Manager, City Manager’s Office, effective October 28, 2025; 5.89* years of service.   Not available Not available
14-9739 1a. Board Minutes ApprovalApproval of the Board Minutes of September 18, 2025.   Not available Not available
14-9740 1a. Return ContributionsVoluntary | Involuntary   Not available Not available
14-9727 1a. Communication and Information ReportReport of the Monthly Board Expenses for June and August 2025. Receive and file.   Not available Not available
14-9728 1b. Communication and Information ReportQ4 FY 2024-2025 Budget to Actual Quarterly Budget Report.   Not available Not available
14-9734 1c. Communication and Information ReportUpdated 2026 Federated Meeting Schedule Calendar. Receive and file. Receive and file.   Not available Not available
14-9829 1d. Communication and Information ReportSemi-annual manager decisions-Investments. Receive and file.   Not available Not available
14-9800 1a. Travel/Conference AttendanceJohn Flynn, CEO · GovAI Coalition Summit 2025 and Government Town Hall, San José Convention Center, San Jose, CA, November 5 - 7, 2025.   Not available Not available
14-9737 1b. Travel/Conference AttendanceReimbursements · John Flynn’s ‘Moving Expenses’ for September 18, 2025, pursuant to CEO Employment Contract, Paragraph 3(C), Exhibit E. · Matthew Faulkner’s MarketsGroup ALTSSF, The Ritz Carlton Hotel, San Francisco, CA, September 3, 2025.   Not available Not available
14-9705 1a. InvestmentsOral update from the CIO of Retirement Services, Prabhu Palani.   Not available Not available
14-9715 1b. InvestmentsPresentation of Calendar 1st Quarter 2025 private equity report by Neuberger Berman.   Not available Not available
14-9716 1c. InvestmentsPresentation of Calendar 1st Quarter 2025 private markets report by Meketa Investment Group.   Not available Not available
14-9717 1d. InvestmentsPresentation of Calendar 2nd Quarter 2025 performance report for Pension Plan by Meketa Investment Group.   Not available Not available
14-9718 1e. InvestmentsPresentation of Calendar 2nd Quarter 2025 performance report for Health Care Trust by Meketa Investment Group.   Not available Not available
14-9834 1f. InvestmentsPresentation of the Investment Fee Report for Calendar Year 2024 by the Investment Staff.   Not available Not available
14-9836 1g. InvestmentsDiscussion and action on Investment Committee Charter technical update.   Not available Not available
14-9706 1a. ItemOral update from the CEO of Retirement Services, John Flynn.   Not available Not available
14-9707 1b. ItemOral update from the City Council Liaison to the Board.   Not available Not available
14-9741 1c. ItemDiscussion and action on Pension economic assumptions for the June 30, 2025 Actuarial Valuation to presented by Cheiron.   Not available Not available
14-9695 1d. ItemDiscussion and action to adopt IME Dr. Donald Pompan’s apportionment of 30% of Federated member Angelica Lomeli Franco’s cumulative trauma injury (workers’ compensation claim) to the injury granted in service-connected disability retirement. (Disability Committee Recommendation: Approval)   Not available Not available
14-9814 1e. ItemDiscussion and action on the Election of Board Officer Policy reviewed by Aon.   Not available Not available
14-9835 1f. ItemDiscussion and action to direct the Governance Committee to evaluate and recommend committee term limits, including for committee chairs.   Not available Not available
14-9708 1a. ItemOral update from the Chair of the Investment Committee.   Not available Not available
14-9821 1b. ItemMinutes of the Federated Investment Committee meeting from April 22, 2025. Receive and file.   Not available Not available
14-9709 1a. ItemOral update from the Chair of the Audit/Risk Committee. · Discussion and action regarding the proposed Joint Audit Committee meeting schedule for Calendar Year 2026. · Discussion and action on a recommendation to the full board for Internal Audit Consulting Services, following interviews of candidates. Candidates: · Baker Tilly Advisory Group, LP · Crowe LLP · Plante Moran, PLLC   Not available Not available
14-9704 1b. ItemMinutes of the Joint Audit Committee meeting from May 15, 2025. Receive and file.   Not available Not available
14-9806 1c. ItemDiscussion and action on the results of the Request for Proposal (“RFP”) for Internal Audit Service, including Board authorization for the CEO to negotiate and execute a two-year agreement for an amount not to exceed $400,000 with four two-year options to extend with Baker Tilly Advisory Group, LP.   Not available Not available
14-9710 1a. ItemOral update from the Chair of the Governance Committee.   Not available Not available
14-9711 1a. ItemOral update from the Chair of the Disability Committee. · Discussion and action on the 2026 Scheduled Disability Committee Meetings.   Not available Not available
14-9735 1b. ItemMinutes of the Federated Disability Committee meeting from August 5, 2025. Receive and file.   Not available Not available
14-9712 1a. ItemOral update from the Chair of the Joint Personnel Committee. · Discussion and action on the 2026 Scheduled Joint Personnel Committee Meetings. · Discussion - Compensation Study Update. · Discussion and Action - Review Benefits Personnel and Organization Chart with recommendations. · Discussion - Deputy Chief Investment Officer Classification Update. · Discussion and action on the interim management plan for the Investment Group and transition planning to address the departure of CIO. · Discussion and action on plan to engage executive search firm to address the departure of CIO, including scope, process, recruitment goals, and timeline. · Discussion and action on formation of an ad hoc committee to select and work with an executive search firm for the hiring of the CIO position, including timeline, development of a draft recruitment brochure, and candidate selection process.   Not available Not available
14-9736 1b. ItemMinutes of the Joint Personnel Committee meeting from April 2, 2025 and September 10, 2025. Receive and file.   Not available Not available
14-9807 1c. ItemDiscussion and action to approve the deletion of one full-time Staff Specialist and the addition of one full-time Analyst in the Benefits Division.   Not available Not available
14-9808 1d. ItemDiscussion and action to approve one full-time overstrength Program Manager in the Benefits Division through June 30, 2026.   Not available Not available
14-9805 1a. ItemOral update from the Joint Audit Adhoc Committee.   Not available Not available
14-9810 1a. ItemOral update from the Actuarial Services Joint Adhoc Committee.   Not available Not available
14-9838 1a. ItemOral update from the Joint Personnel Adhoc Committee.   Not available Not available
14-9720 1a. Education & TrainingCALAPRS 2025 Program Calendar.   Not available Not available
14-9719 1b. Education & TrainingQuarterly Trustee Education Opportunities Report.   Not available Not available
14-9721 1c. Education & TrainingNCPERS Program for Advanced Trustee Studies (PATS), Omni Fort Lauderdale Hotel, Fort Lauderdale, FL, October 25 - 26, 2025.   Not available Not available
14-9722 1d. Education & TrainingNCPERS Fall Conference, Omni Fort Lauderdale Hotel, Fort Lauderdale, FL, October 26 - 29, 2025.   Not available Not available
14-9723 1e. Education & TrainingPension Bridge, Alternative Conference, Quorum Convene, New York City, NY, October 28, 2025.   Not available Not available
14-9724 1f. Education & TrainingSACRS Fall Conference 2025, Hyatt Regency Huntington Beach Resort & Spa, Huntington Beach, CA, November 11 - 14, 2025.   Not available Not available
14-9725 1g. Education & TrainingCALAPRS Virtual Investments Round Table, November 21, 2025.   Not available Not available
14-9726 1h. Education & TrainingCALAPRS Advanced Course in Retirement Plan Administration, Avenue of the Arts Costa Mesa, Costa Mesa, CA, December 3 - 5, 2025.   Not available Not available