BOARD OF ADMINISTRATION  
Meeting Agenda - Final  
Police & Fire Department Retirement  
Plan and Health Care Trust  
Wednesday, April 15, 2026  
9:00 AM  
1737 N. First St. Suite 580, San Jose, CA 95112  
HYBRID MEETING  
PHYSICAL LOCATION:  
1737 N. First St. Suite 580, San Jose, CA 95112  
ZOOM INFORMATION:  
zoom.us  
Dial In: +1 408 638 0968 US (San Jose)  
Meeting ID: 919 5105 2755  
BOARD MEMBERS  
Andrew Gardanier, Chair, Fire Active Rep (Term Expires 11/30/27)  
Eswar Menon, Vice-Chair, Public Member (Term Expires 11/30/26)  
Gretchen Flicker, Trustee, Public Member (Term Expires 11/30/28)  
Sunita Ganapati, Trustee, Public Member (Term Expires 11/30/26)  
David Kwan, Trustee, Public Member (Term Expires 11/30/28)  
Howard Lee, Trustee, Public Member (Term Expires 11/30/26)  
Richard Santos, Trustee, Fire Retiree Rep (Term Expires 11/30/26)  
Franco Vado, Trustee, Police Retiree Rep (Term Expires 11/30/28)  
David Woolsey, Trustee, Police Active Rep (Term Expires 11/30/28)  
George Casey, City Council Liaison to the Board  
Maytak Chin, General and Fiduciary Counsel  
John Flynn, CEO, Office of Retirement Services  
ADA ALERT  
In accordance with the requirements of AB 2449, the Board of Administration (“Board”) will generally,  
upon request, provide appropriate aids and services leading to effective communication for individuals  
with disabilities so they can participate equally in the Board’s meetings, including qualified sign  
language interpreters, documents in Braille, and other ways of making information and communications  
accessible to people who have speech, hearing, vision or other disabilities.  
Anyone who requires an auxiliary aid or service for effective communication to participate in a Board  
meeting should contact the designated contact in Office of Retirement Services as far in advance of the  
scheduled meeting as possible. The Board strongly encourages individuals with disabilities to endeavor  
to submit requests for reasonable accommodation no later than five (5) business days before the  
scheduled meeting, as the Board may not be able to grant requests for reasonable accommodations  
without sufficient advance notice. The Board strongly encourages individuals with disabilities to submit  
their written requests via email or regular mail to facilitate tracking and response; however, if the  
submission of a written request constitutes a hardship, individuals may call the Office of Retirement  
Services to submit an oral request.  
The designated contact in the Office of Retirement Services will endeavor to respond to each request  
within three (3) business days of receipt of the request. Depending on the request, the designated contact  
in the Office of Retirement Services may ask to schedule a time to discuss the request (which may occur  
virtually) to determine the most appropriate auxiliary aid or service, before the request is resolved.  
ADA Designated Contact Information  
Attention: Deputy Director/Chief Operations Officer, Office of Retirement Services  
Address: 1737 N First St #600, San Jose, CA 95112  
Email: #Retire_Admin@sanjoseca.gov  
Phone: 408-794-1000 (ORS Main Line)  
THE LEVINE ACT  
The Levine Act requires a Party in a Proceeding before the City of San José that involves any action  
related to their contract, license, permit, or use entitlement to disclose any campaign contributions to  
City elected or appointed officials totaling more than $500 within the 12 months prior to the City decision.  
A Participant to a Proceeding may voluntarily report a campaign contribution on the form located on the  
Levine Act webpage.  
AGENDA  
CALL TO ORDER AND ROLL CALL  
SB 707 REMOTE APPEARANCE(S)  
i. Take action on request(s) for remote appearance.  
• ORDERS OF THE DAY  
• PUBLIC/RETIREE/GENERAL COMMENTS - Subject to Government Code Section  
54954.3  
• Members of the public may comment on items not included on the agenda, provided  
that the matter is within the subject matter jurisdiction of the Board.  
1. CONSENT CALENDAR  
1.1 Approval Of Board Minutes  
a.  
Approval of the Board Minutes of March 18, 2026.  
Attachments:  
1.2 Approval Of Travel and Reimbursements  
a.  
b.  
c.  
John Flynn, CEO  
NCPERS Chief Officers Summit 2026, Newport Beach, CA, June 15 - 16, 2026.  
·
Attachments:  
Gretchen Flicker, Trustee  
2026 Public Funds Roundtable, Los Angeles, CA, April 27 - 29, 2026.  
·
Attachments:  
Reimbursements  
·
CALAPRS General Assembly 2026, Carlsbad, CA. March 8 - 11, 2026 - Andrew  
Gardanier.  
·
CALAPRS General Assembly 2026, Carlsbad, CA. March 8 - 11, 2026 - Gretchen Flicker.  
Attachments:  
1.3 Approval of Return of Contributions  
a.  
Voluntary | Involuntary  
Attachments:  
1.4 Communication and Information Reports  
a.  
b.  
c.  
Police and Fire Department Retirement Plan Dashboard.  
Attachments:  
Report of the Monthly Board Expenses for February 2026. Receive and file.  
Attachments:  
Educational Travel Reports:  
·
·
CALAPRS General Assembly 2026, March 8-11, 2026, Carlsbad, CA by Gretchen Flicker.  
CALAPRS General Assembly 2026, March 8-11, 2026, Carlsbad, CA by Andrew  
Gardanier.  
·
·
CALAPRS General Assembly 2026, March 8-11, 2026, Carlsbad, CA by David Kwan.  
CALAPRS General Assembly 2026, March 8-11, 2026, Carlsbad, CA by Franco Vado.  
Attachments:  
d.  
Mayor's March Budget Message for Fiscal Year 2026-2027.  
Attachments:  
1.5 Education and Training  
a.  
b.  
c.  
d.  
e.  
CALAPRS 2025 Program Calendar.  
Attachments:  
Quarterly Trustee Education Opportunities Report.  
Attachments:  
SACRS Spring Conference 2026, Olympic Valley, CA, May 12 - 15, 2026.  
Attachments:  
NCPERS Trustee Educational Seminars (TEDS), Las Vegas, NV, May 16 - 17, 2026.  
Attachments:  
NCPERS The Annual Conference & Exhibition (ACE), Las Vegas, NV, May 17 - 20, 2026.  
Attachments:  
1.6 Approval of Administrative Matters  
a.  
Fiduciary Insurance and Waiver of Recourse Fees for Policy Year March 2026-2027.  
Attachments:  
2. INVESTMENTS  
a. Oral update by CIO, Jay Kwon.  
3. OLD BUSINESS CONTINUED-DEFERRED ITEMS - NONE  
4. NEW BUSINESS  
a.  
b.  
c.  
Oral update by CEO, John Flynn.  
Oral update from the City Council Liaison to the Board.  
Discussion and action on the proposed administrative budget for fiscal year 2026-2027.  
Attachments:  
d.  
e.  
Discussion and action of Joint Personnel Committee assignments.  
Attachments:  
Discussion and action on adoption of updated City Policy Manual #3.3.2 - Management Performance  
Program Policy for ORS Operations.  
Attachments:  
5. RETIREMENTS  
5.1 Service Retirements  
a.  
5.2 Deferred Vested  
Eric P. Snyder, Fire Fighter, Fire Department, effective March 28, 2026; 20.28* years of service.  
a.  
Brian Shab, Assistant Chief of Police, Police Department, effective March 11, 2026; 26.77* years of  
service.  
6. DEATH AND SURVIVORSHIP NOTIFICATIONS (Moment of Silence)  
a.  
b.  
c.  
Notification of the death of Samuel G. Garcia, Fire Engineer, retired July 12, 2008, died January 26,  
2026. Survivorship benefits to Lilia Garcia, spouse.  
Notification of the death of Anthony Guinnane, Fire Captain, retired July 24, 2010, died January 26,  
2026. Survivorship benefits to Elizabeth Guinnane, spouse.  
Notification of the death of Stanley B. Tice, Police Sergeant, retired February 4, 1990, died  
February 7, 2026. No survivorship benefits.  
7. COMMITTEE MINUTES, REPORTS AND RECOMMENDATIONS  
7.1 Investment Committee (Lee, Gardanier, Ganapati, Kwan)  
Last Meeting: February 23, 2026  
a.  
7.2 Audit/Risk Committee (Woolsey, Ganapati, Menon)  
Last Meeting: February 19, 2026 Next Meeting: May 21, 2026  
a.  
Next Meeting: April 28, 2026  
Oral update from the Chair of the Investment Committee.  
Oral update from the Chair of the Audit/Risk Committee.  
7.3 Governance Committee (Flicker, Vado, Santos)  
Last Meeting: March 18, 2026  
Next Meeting: June 17, 2026  
a.  
Oral update from the Chair of the Governance Committee.  
·
·
·
·
·
Nomination and Election of Governance Committee Vice Chairs.  
Discussion and action to recommend adoption of the Governance Review Framework.  
Discussion and action to recommend adoption of new Policy on Policies.  
Discussion and action to recommend adoption of the new Public Comment Policy.  
Discussion on Q2’26 policies: Board of Administration Charter, CEO & CIO Performance  
Evaluation Policies.  
·
Discussion and action on CEO authority to approve new and updated City Policies.  
Attachments:  
b.  
c.  
Minutes of the Governance Committee meeting from January 15, 2026. Receive and file.  
Attachments:  
Discussion and action to adopt the Governance Review Framework and multi-year workplan for the  
review and update of board governance documents.  
Attachments:  
d.  
Discussion and action to adopt the new Policy on Policies.  
Attachments:  
e.  
f.  
Discussion and action to adopt the new Public Comment Policy.  
Attachments:  
Discussion and action to recommend delegating authority to the Chief Executive Officer to approve  
City policies applicable to the operations of the Office of Retirement Services.  
Attachments:  
7.4 Disability Committee (Santos, Woolsey - Alts: Flicker/Vado/Lee/Gardanier)  
Last Meeting: April 13, 2026 Next Meeting: May 11, 2026  
Oral update from the Chair of the Disability Committee.  
Minutes of the Disability Committee meeting from March 2, 2026. Receive and file.  
a.  
b.  
Attachments:  
7.5 Joint Personnel Committee (Menon/Gardanier/Vado)  
Last Meeting: April 1, 2026  
Next Meeting: TBD  
a.  
Oral update from the Chair of the Joint Personnel Committee.  
·
·
·
·
Nomination and election of Chair of Joint Personnel Committee.  
Nomination and election of Vice-Chair of Joint Personnel Committee.  
Discussion and action on the Investment Team Compensation.  
Discussion and action on 2025-2026 CEO Performance Evaluation, including process and  
evaluation criteria.  
·
·
Discussion and action on 2025-2026 CIO Performance Evaluation, including process and  
evaluation criteria.  
Discussion on CEO & CIO Performance Evaluation Policies.  
Attachments:  
b.  
c.  
Minutes of the Joint Personnel Committee meeting from January 27, 2026. Receive and file.  
Attachments:  
Discussion and action on the FY2026 CEO Performance Evaluation metrics and weightings  
recommended by the Joint Personnel Committee.  
Attachments:  
d.  
Discussion and action on the FY2026 CIO Performance Evaluation metrics and weightings  
recommended by the Joint Personnel Committee.  
Attachments:  
• PROPOSED AGENDA ITEMS  
• ADJOURNMENT  
Next Meeting: May 20, 2026  
*Estimated  
All public records relating to an open session item on this agenda, which are not exempt from disclosure  
pursuant to the California Public Records Act, that are distributed to a majority of the legislative body  
will be available for public inspection at the Office of Retirement Services, 1737 N. First Street, Suite 600,  
San José CA 95112 at the same time that the public records are distributed or made available to the  
legislative body.  
Access the video or audio, the agenda, related reports, and supplemental materials for this meeting by  
questions, please contact the Office of Retirement Services at (408) 794 - 1000.  
Supplemental agenda materials may be made available less than 72 hours before a regular meeting,  
provided that they are: (1) distributed to a majority of the legislative body and made available for public  
inspection at the Office of Retirement Services, 1737 N. First Street, Suite 600, San José CA 95112, at the  
same time; and (2) posted on the Office of Retirement Services’ website at  
item for an upcoming meeting.  
The Code of Conduct  
0) is intended to promote open meetings that welcome debate of public policy issues  
being discussed by the City Council, their Committees, and City Boards and  
Commissions in an atmosphere of fairness, courtesy, and respect for differing points of  
view.  
1. Public Meeting Decorum:  
a) Persons in the audience will refrain from behavior which will disrupt the public  
meeting. This will include making loud noises, clapping, shouting, booing, hissing or  
engaging in any other activity in a manner that disturbs, disrupts or impedes the orderly  
conduct of the meeting.  
b) Persons in the audience will refrain from creating, provoking or participating in any  
type of disturbance involving unwelcome physical contact.  
c) Persons in the audience will refrain from using cellular phones and/or pagers while  
the meeting is in session.  
d) Appropriate attire, including shoes and shirts are required in the Council Chambers  
and Committee Rooms at all times.  
e) Persons in the audience will not place their feet on the seats in front of them.  
f) No food, drink (other than bottled water with a cap), or chewing gum will be allowed in  
the Council Chambers and Committee Rooms, except as otherwise pre-approved by  
City staff.  
g) All persons entering the Council Chambers and Committee Rooms, including their  
bags, purses, briefcases and similar belongings, may be subject to search for weapons  
and other dangerous materials.  
2. Signs, Objects or Symbolic Material:  
a) Objects and symbolic materials, such as signs or banners, will be allowed in the  
Council Chambers and Committee Rooms, with the following restrictions: § No objects  
will be larger than 2 feet by 3 feet.  
-No sticks, posts, poles or other such items will be attached to the signs or other  
symbolic materials.  
-The items cannot create a building maintenance problem or a fire or safety hazard.  
b) Persons with objects and symbolic materials such as signs must remain seated  
when displaying them and must not raise the items above shoulder level, obstruct the  
view or passage of other attendees, or  
otherwise disturb the business of the meeting.  
c) Objects that are deemed a threat to persons at the meeting or the facility  
infrastructure are not allowed. City staff is authorized to remove items and/or individuals  
from the Council Chambers and Committee Rooms if a threat exists or is perceived to  
exist. Prohibited items include, but are not limited to: firearms (including replicas and  
antiques), toy guns, explosive material, and ammunition; knives and other edged  
weapons; illegal drugs and drug paraphernalia; laser pointers, scissors, razors,  
scalpels, box cutting knives, and other cutting tools; letter openers, corkscrews, can  
openers with points, knitting needles, and hooks; hairspray, pepper spray, and aerosol  
containers; tools; glass containers; and large backpacks and suitcases that contain  
items unrelated to the meeting.  
3. Addressing the Council, Committee, Board or Commission:  
a) Persons wishing to speak on an agenda item or during open forum are requested to  
complete a speaker card and submit the card to the City Clerk or other administrative  
staff at the meeting.  
b) Meeting attendees are usually given two (2) minutes to speak on any discussion item  
and/or during open forum; the total amount of time allocated for public testimony for  
each public speaker or for an agenda item is in the discretion of the Chair of the meeting  
and may be limited when appropriate. (California Government Code Section 54954.3;  
Council Policy 0-37) Applicants and appellants in land use matters are usually given  
more time to speak. Speakers using a translator will be given twice the time allotted to  
ensure non-English speakers receive the same opportunity to directly address the  
Council, Committee, Board or Commission.  
c) Speakers should discuss only the agenda item when called to speak for that item,  
and only topics related to Retirement Board business when called to speak during open  
forum on the agenda.  
d) Speakers’ comments should be addressed to the full body. Requests to engage the  
Mayor, Council Members, Board Members, Commissioners or Staff in conversation will  
not be honored. Abusive language is inappropriate.  
e) Speakers will not bring to the podium any items other than a prepared written  
statement, writing materials, or objects that have been inspected by security staff.  
f) If an individual wishes to submit written information, he or she may give it to the City  
Clerk or other administrative staff at the meeting.  
g) Speakers and any other members of the public will not approach the dais at any time  
without prior consent from the Chair of the meeting.  
Failure to comply with this Code of Conduct which will disturb, disrupt or impede the  
orderly conduct of the meeting may result in removal from the meeting and/or possible  
arrest.