Meeting Name: Police & Fire Department Retirement Plan and Health Care Trust Agenda status: Final-revised
Meeting date/time: 9/4/2025 9:00 AM Minutes status: Final  
Meeting location: 1737 N. First St. Suite 580, San Jose, CA 95112
Published agenda: Agenda Agenda Published minutes: Minutes Minutes Meeting Extra1: PF Board 9-4-25 audio  
Attachments:
File #Ver.Agenda #NameTypeTitleActionResultAction DetailsVideo
14-9613 1A. ItemCLOSED SESSION: CONFERENCE WITH LEGAL COUNSEL - PENDING LITIGATION PURSUANT TO GOVERNMENT CODE SECTION 54956.9(a). Robnett v. City of San Jose, et al., Northern District Court of California, Case No. 5:24-cv-02385-NC.   Action details Not available
14-9578 1B. ItemCLOSED SESSION: PUBLIC EMPLOYEE PERFORMANCE EVALUATION PURSUANT TO GOVERNMENT CODE SECTION 54957(b)(1). Title: Chief Investment Officer.   Action details Not available
14-9579 1C. ItemCLOSED SESSION: CONFERENCE WITH LABOR NEGOTIATOR PURSUANT TO GOVERNMENT CODE SECTION 54957.6(a). Agency designated representatives: Franco Vado, Board Chair. Unrepresented employees: Chief Executive Officer.   Action details Not available
14-9580 1D. ItemCLOSED SESSION: CONFERENCE WITH LABOR NEGOTIATOR PURSUANT TO GOVERNMENT CODE SECTION 54957.6(a). Agency designated representatives: Eswar Menon, Investment Committee Chair. Unrepresented employees: Chief Investment Officer.   Action details Not available
14-9576 1a. InvestmentsApproval of the Board Minutes of August 7, 2025.   Action details Not available
14-9592 1a. Return ContributionsVoluntary | Involuntary   Action details Not available
14-9593 1a. Communication/Information ReportPolice and Fire Retirement System Dashboard.   Action details Not available
14-9594 1b. Communication/Information ReportReport of the Monthly Board Expenses for July 2025. Receive and file.   Action details Not available
14-9619 1c. InvestmentsPresentation of Calendar 1st Quarter 2025 private equity report by Neuberger Berman.   Action details Not available
14-9620 1d. InvestmentsPresentation of Calendar 1st Quarter 2025 private markets report by Meketa Investment Group.   Action details Not available
14-9621 1e. InvestmentsPresentation of Calendar 2nd Quarter 2025 performance report for Pension Plan by Meketa Group.   Action details Not available
14-9622 1f. InvestmentsPresentation of Calendar 2nd Quarter 2025 performance report for Health Care Trust by Meketa Investment Group.   Action details Not available
14-9672 1g. ItemUpdated 2025 location for Scheduled Board and Standing Committee Meetings.   Action details Not available
14-9673 1h. ItemEducational Travel Andrew Gardanier, SACRS Fall Conference 2025, Hyatt Regency Huntington Beach Resort & Spa, Huntington Beach, CA, November 11-14, 2025.   Action details Not available
14-9595 1a. Education & TrainingCALAPRS 2025 Program Calendar.   Action details Not available
14-9596 1b. Education & TrainingCALAPRS Virtual Trustees’ Roundtable, October 3, 2025.   Action details Not available
14-9597 1c. Education & TrainingNCPERS Fall Conference, Omni Fort Lauderdale Hotel, Fort Lauderdale, FL, October 26-29, 2025.   Action details Not available
14-9598 1d. Education & TrainingSACRS Fall Conference 2025, Hyatt Regency Huntington Beach Resort & Spa, Huntington Beach, CA, November 11-14, 2025.   Action details Not available
14-9599 1e. Education & TrainingCALAPRS Virtual Investments Round Table, November 21, 2025.   Action details Not available
14-9586 1a. Recission Of Retirement ApplicationApproval of request to rescind the Service Retirement application of George Constantin, Police Sergeant, approved at the June 5, 2025 Board meeting for the effective date of July 6, 2025.   Action details Not available
14-9623 1a. InvestmentsDiscussion and approval for the Secretary to negotiate and execute a five-year extension to the custodian banking services agreement with the Bank of New York for: a. Police and Fire Department Retirement Plan not-to-exceed $2,720,000. b. Police and Fire Retiree Health Care Trust Fund not-to-exceed $275,000.   Action details Not available
14-9629 1a. ItemDiscussion and action on merit and executive days for the fiscal year ending June 30, 2026, for the Chief Executive Officer position.   Action details Not available
14-9636 1b. ItemDiscussion on Police and Fire Retreat Workshop · 4.b.1 – “State of the Pension Fund” - John Flynn, ORS Chief Executive Officer · 4.b.2 – “Navigating Cyber Risk and Board Responsibility” – Peter Dewar, Linea Secure President, and Jake Long, Linea Secure · 4.b.3 – “Strategic Planning Kick Off” - Julie Becker, Aon Partner · 4.b.4 – “Oral Update”, Prabhu Palani, ORS Chief Investment Officer · 4.b.5 – “Macroeconomic Overview” - David Mericle, Goldman Sachs Chief US Economist Time Certain: 1:00 p.m. or soon thereafter · 4.b.6 – “Imagining a Fully Funded World” – Bill Hallmark, Cheiron Actuary, and Anne Harper, Cheiron Actuary   Action details Not available
14-9572 1a. Service RetirementDennis D. Bell, Battalion Chief, Fire Department, effective September 13, 2025; 29.79* years of service.   Action details Not available
14-9571 1b. Service RetirementMichael J. Murray, Fire Engineer, Fire Department, effective September 13, 2025; 25.67* years of service. (With Reciprocity - 1.25 PERS + 24.41 CSJ = 25.67 YOS)   Action details Not available
14-9573 1c. Service RetirementJonathan Redmond, Police Officer, Police Department, effective September 13, 2025; 29.46* years of service.   Action details Not available
14-9574 1a. Deferred VestedMichael William O’Neill, Police Officer, Police Department, effective September 25, 2025; 10.62* years of service.   Action details Not available
14-9575 1b. Deferred VestedShawn M. Nunes, Police Officer, Police Department, effective September 13, 2025; 25.89* years of service. (With Reciprocity - 13.09 CSJ + 12.79 PERS = 25.89 YOS)   Action details Not available