BOARD OF ADMINISTRATION  
Meeting Minutes - Final  
Federated City Employees' Retirement  
System and Federated City  
Employees' Health Care Trust  
Thursday, March 19, 2026  
8:30 AM  
City Hall, Wing Rooms 118-120  
200 E. Santa Clara St., San Jose, CA  
95113  
HYBRID MEETING  
PHYSICAL LOCATION:  
City Hall, Wing Rooms 118-120, 200 E. Santa Clara St. San Jose, Ca 95113  
ZOOM INFORMATION:  
zoom.us  
Dial In: +1 408 638 0968 US (San Jose)  
Meeting ID: 925 1528 5789  
BOARD MEMBERS  
Spencer Horowitz, Chair (Term Expires 11/30/28)  
Matthew Faulkner, Vice Chair (Term Expires 11/30/27)  
Deborah Abbott, Trustee (Term Expires 11/30/26)  
Anurag Chandra, Trustee (Term Expires 11/30/26)  
Brian Chi, Trustee (Term Expires 11/30/29)  
Mark Linder, Trustee (Term Expires 11/30/28) -- 2 Westwood Road Santa Cruz, CA 95060  
Nathan Nakagawa, Trustee (Term Expires 11/30/27)  
Pam Foley, City Council Liaison to the Board  
Maytak Chin, General and Fiduciary Counsel  
John Flynn, CEO, Office of Retirement Services  
_______________________________________________________________  
7 -  
Present:  
Debbie Abbott, Matthew Faulkner, Spencer Horowitz, Mark Linder, Anurag  
Chandra, Nathan Nakagawa and Brian Chi  
The Board of Administration of the Federated City Employees Retirement System and  
Health Care Trust met on Thursday, March 19, 2026, at City Hall, Wing Rooms 118-120,  
200 E. Santa Clara St., San Jose, CA 95113 and via Zoom at 8:30 a.m. Chair Horowitz  
called the meeting to order at 8:29 a.m. followed by roll call.  
Board Members Present: Spencer Horowitz, Matthew Faulkner, Deborah Abbott, Anurag  
Chandra, Brian Chi, and Nathan Nakagawa.  
Trustee Mark Linder arrived at 8:30 a.m.  
Board Members Present via Zoom utilizing the Traditional Brown Act teleconferencing  
rules: Mark Linder. Counsel Maldonado questioned Trustee Linder on whether he met  
the qualifications to teleconference under the Brown Act, and Trustee Linder responded  
in the affirmative.  
Retirement Staff Present: John Flynn, Prabhu Palani, Barbara Hayman, Amanda Hiew,  
Gabriela Romero, Edith Orosco, Sherrell Aledo, Ryan Reynado, Jay Kwon, Dhinesh  
Ganapathiappan, Christina Wang, Jennifer You, David Aung, Harrison Pierce, Ron  
Kumar, and Cynthia Ayala.  
Retirement Staff Present via Zoom: Veronica Solorio, Benjie Chua-Foy, Shilpi Dwivedi,  
Ellen Lee, Nam Cao, and Arun Nallasivan.  
Also Present: Pam Foley, Vice Mayor and City Council Liaison; Christopher Maldonado,  
General and Fiduciary Counsel; and Colin Kowalski, Meketa Investment Group.  
Also Present via Zoom: Cyril Espanol, With Intelligence-Journalist; Julie Becker, Aon;  
Tyler Czinege, Neuberger Berman; Roberto L. Pena, Public Member; Faith Dagneau,  
Public Member; and Nate Weinstein, Public Member.  
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.  
CEREMONIAL ITEM  
a.  
Discussion and action on the Resolution Recognizing Prabhu Palani for His Service as Chief  
Investment Officer to the San José Federated Employees' Retirement System and approval of  
Resolution No. 9130.  
This item was heard after item 5d.  
Chair Horowitz presented the commendation to CIO Palani and thanked him for his service.  
Chair Horowitz, Vice-Chair Faulkner, and Trustees Abbott and Chandra also added comments,  
expressing appreciation for CIO Palani’s excellent work and his service as Chief Investment  
Officer to the San José Federated Employees' Retirement System.  
A motion was made to adopt the commendation for CIO Palani and to approve Resolution No.  
9130.  
Approved. (M.S.C. Chandra/Abbott 7-0-0). The motion passed unanimously by roll call vote.  
Roberto L. Pena, a member of the public, made public comments.  
•
ORDERS OF THE DAY  
Orders of the Day was heard immediately after roll call attendance.  
ORDERS OF THE DAY:  
• For Consent Calendar Item 1.3c: Yvonne D. Garcia has rescinded her Deferred Vested  
application.  
WAIVE SUNSHINE:  
• None.  
Chair Horowitz announced a change to the agenda order, as the first item, a ceremonial item,  
was postponed because its recipient was not present. The item was moved to a later part of  
the agenda.  
•
•
PUBLIC/RETIREE/GENERAL COMMENTS – Subject to Government Code Section  
54954.3  
Public/Retiree/General Comments was heard after the Consent Calendar.  
There were no public comments.  
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.  
CLOSED SESSION  
CLOSED SESSION AGENDA ITEMS WILL BE HEARD AT 8:30 A.M.  
I.  
CLOSED SESSION NEW BUSINESS  
Closed session was heard after the Public/Retiree/General Comments.  
The Board entered into Closed Session at 8:33 a.m.  
A.  
CLOSED SESSION: CONFERENCE WITH LABOR NEGOTIATORS PURSUANT TO  
GOVERNMENT CODE SECTION 54957.6(a).  
There was no reportable action for this item from Closed Session.  
The Board came out of Closed Session at 8:45 a.m.  
OPEN SESSION - will reconvene following Closed Session, estimated to be 8:50 a.m.  
Open Session re-convened at 8:46 a.m.  
1.  
CONSENT CALENDAR  
The Consent Calendar was heard after the Orders of the Day.  
A motion was made to approve the Consent Calendar.  
Approved. (M.S.C. Chandra/Nakagawa 7-0-0). The motion passed unanimously by roll call  
vote.  
1.1  
1.2  
Approval for a Service-Connected Disability  
a.  
Tuan Nguyen, Electrician II, Department of Transportation, Request for a Service-Connected  
Disability Retirement, effective November 20, 2025; 5.45* years of service. (Disability  
Committee Recommendation: Approval)  
Approval of Service Retirements  
a.  
b.  
c.  
d.  
e.  
f.  
Ronald D. Black, Senior Construction Inspector, Public Works Department, effective April 11,  
2026; 19.39* years of service.  
Robert G. Canario, Communications Installer, Public Works Department, effective March 28,  
2026; 18.82* years of service.  
May W. Cheung, Information Systems Analyst, Office of Retirement Services, effective March  
28, 2026; 20.76* years of service.  
Sarabjit K. Dhaliwal, Senior Office Specialist, Information Technology Department, effective  
March 28, 2026; 24.82* years of service.  
Ana Maria Fabela, Library Clerk, Library Department, effective March 28, 2026; 19.19* years  
of service.  
Lucia L. Farnham-Hudson, Librarian II, Library Department, effective March 28, 2026; 24.71*  
years of service.  
g.  
h.  
i.  
Lilybeth L. Gonzales, Senior Permit Specialist, Fire Department, effective March 28, 2026;  
26.54* years of service.  
Malgorzata Laskowska, Senior Deputy City Attorney, City Attorney’s Office, effective March  
28, 2026; 27.59* years of service.  
Mike Monterosso, Maintenance Worker II, Department of Transportation, effective March 28,  
2026; 26.82* years of service.  
j.  
Margaret L. Morrow, Staff Specialist, Department of Transportation, effective March 31, 2026;  
21.32* years of service.  
k.  
Nadia N. Naum-Stoian, Associate Engineer, Fire Department, effective March 28, 2026;  
26.22* years of service.  
l.  
Valerie M. Osmond, Deputy Director, Environmental Services Department, effective April 11,  
2026; 30.21* years of service.  
m.  
n.  
Ramo Pinjic, Analyst II, Housing Department, effective March 28, 2026; 25.69* years of  
service.  
Joseph E. Selkregg, Instrument Control Technician IV, Environmental Services Department,  
effective March 28, 2026; 26.82* years of service.  
1.3  
Deferred Vested  
a.  
b.  
c.  
d.  
e.  
f.  
Rebecca M. Dishotsky, Mayor Executive Officer, City Clerk’s Office (Mayor’s Office),  
effective March 12, 2026; 8.04* years of service.  
Denelle Fedor, Council Policy & Legal Advisor City Clerk Office, effective March 5, 2026;  
13.17* years of service.  
Yvonne D. Garcia, Office Specialist II, Environmental Services Department, effective March 28,  
2026; 9.20* years of service.  
Robert D. Merkamp, Planner I, Planning, Building and Code Enforcement, effective April 11,  
2026; 27.01* years of service. (With Reciprocity - 2.19 CSJ + 24.81 PERS = 27.01 YOS)  
Melinda J. Montgomery, Airport Operations Supervisor, Airport Department, effective March  
29, 2026; 5.05* years of service.  
Anthony Porta, Background Investigator, Police Department, effective March 31, 2026; 8.22*  
years of service.  
1.4  
1.5  
1.6  
Approval of Board Minutes  
a.  
a.  
a.  
Approval of the Board Minutes of February 19, 2026.  
Approval of Return of Contributions  
Voluntary | Involuntary  
Communications and Information Reports  
Report of the Monthly Board Expenses for January 2026. Receive and file.  
b.  
Approval of the Q4 2025 travel and attendance report for the Federated City Employees’  
Retirement System.  
1.7  
Approval of Travel and Reimbursements  
a.  
b.  
Anurag Chandra, Trustee  
·
2026 Public Funds Roundtable, Los Angeles, CA, April 27 - 29, 2026.  
John Flynn, CEO  
·
·
CALAPRS Virtual Human Resources Round Table, February 27, 2026.  
PRISM 2026 Conference, San Diego, CA, May 17 - 20, 2026.  
2.  
DEATH AND SURVIVORSHIP NOTIFICATIONS (Moment of Silence)  
This item was heard after Closed Session.  
Chair Horowitz asked for a moment of silence for those who served and passed away.  
a.  
b.  
c.  
d.  
e.  
f.  
Notification of the death of Lucille F. Friedland, Community Coordinator, retired August 27,  
2017, died December 17, 2025. No survivorship benefits.  
Notification of the death of Myra R. Gerardo, Office Specialist, retired February 28, 2015, died  
January 16, 2026. No survivorship benefits.  
Notification of the death of Gloria Gill, Staff Technician, retired January 26, 2008, died  
December 17, 2025. Survivorship benefits to Daljit Gill, spouse.  
Notification of the death of Margit Lappin, Analyst II, retired May 1, 1999, died January 23,  
2026. No survivorship benefits.  
Notification of the death of Patrick Magill, Senior Construction Inspector, retired January 14,  
2005, died December 30, 2025. Survivorship benefits to Mala Magill, spouse.  
Notification of the death of Thomas Nanson, Assistant Master Fire Mechanic, retired August 11,  
2007, died January 29, 2026. Survivorship benefits to Lauretta Nanson, spouse.  
g.  
h.  
i.  
Notification of the death of Artemio B. Roxas, Plant Mechanics, retired September 24, 2005,  
died January 20, 2026. Survivorship benefits to Aida Roxas, spouse.  
Notification of the death of Ramona Sierras-Hodge, Senior Office Specialist, retired March 22,  
2008, died February 7, 2026. No survivorship benefits.  
Notification of the death of James Tackitt, Painter, retired March 15, 2003, died February 19,  
2026. Survivorship benefits to Cheryl Tackitt, spouse.  
j.  
Notification of the death of Stella Tice, Senior Records Clerk, retired July 7, 1990, died  
February 6, 2026. No survivorship benefits.  
k.  
Notification of the death of Kruti Vyas, Associate Engineer, active, died January 4, 2026. No  
survivorship benefits.  
3.  
INVESTMENTS  
a.  
Oral update from the CIO of Retirement Services, Prabhu Palani.  
This item was heard after item 5b.  
CIO Palani thanked beneficiaries, Board Trustees (past and present), City Council Liaisons  
Councilmembers Pam Foley and George Casey, the ORS investment and administrative  
teams, Roberto L. Peña, CEO Flynn, former Mayor Liccardo, Mayor Mahan, the ORS  
leadership and staff, and partners Verus, Meketa Investment Group, and Cheiron for their  
support during his tenure as Chief Investment Officer of ORS.  
Trustee Chandra added a few kind words for CIO Palani.  
The Board took a break from 10:10 a.m. to 10:21 a.m.  
b.  
Presentation of Calendar 3rd Quarter 2025 Private Equity report by Neuberger Berman.  
This item was heard after the break.  
Tyler Czinege of Neuberger Berman presented the item. Dhinesh Ganapathiappan, Senior  
Investment Officer, answered questions from Trustees Abbott and Chandra. Trustee Chandra,  
Chair Horowitz, and Dhinesh Ganapathiappan, Senior Investment Officer, also added  
comments.  
c.  
d.  
Presentation of Calendar 3rd Quarter 2025 Private Markets report by Meketa Investment Group.  
Colin Kowalski of Meketa Investment Group presented the item and answered questions from  
Trustee Chi. Dhinesh Ganapathiappan, Senior Investment Officer, assisted in answering  
questions from Trustees Chi and Abbott.  
Presentation of Calendar 4th Quarter 2025 Performance report for Pension Plan by Meketa  
Investment Group.  
Colin Kowalski of Meketa Investment Group presented the item and answered questions from  
Trustees Chandra, Abbott, and Nakagawa. Christina Wang, Investment Officer, assisted in  
answering questions from Trustees Chandra, Abbott, and Chi, as well as Vice-Chair Faulkner.  
CIO Palani also assisted in answering questions from Trustee Abbott. CIO Palani and Chair  
Horowitz provided additional comments.  
e.  
Presentation of Calendar 4th Quarter 2025 Performance report for Health Care Trust by Meketa  
Investment Group.  
Colin Kowalski of Meketa Investment Group presented the item.  
f.  
Discussion and action regarding the prefunding of the City’s retirement contribution.  
Jay Kwon, Senior Investment Officer, presented the item and answered questions from  
Trustee Chandra and Chair Horowitz. CIO Palani assisted in answering questions from Trustee  
Chandra. Trustee Chandra added comments.  
A motion was made to reduce the pre-funding discount rate offered to the sponsor by a total  
of 30% from 6.625% to 4.6375% for fiscal year 2026-27.  
Approved. (M.S.C. Faulkner/Abbott 6-0-0). The motion passed unanimously by roll call vote.  
Trustee Chi recused himself from voting on this item.  
4.  
5.  
OLD BUSINESS-DEFERRED/CONTINUED ITEMS-NONE  
NEW BUSINESS  
a.  
Oral update from the CEO of Retirement Services, John Flynn.  
CEO Flynn updated the board on:  
• Mayor’s March Budget Message  
• ORS Staffing / Recruitments  
• Investment Compensation Study  
• Retirement Planning Workshops  
• Procurements and Contracts  
• Internal Audit  
• ADA Title II WCAG 2.1 AA compliance  
• ORS offices will be closed on Tuesday, March 31, for a City Holiday  
• Save the Date - CALAPRS - Principles of Pension Governance for Trustees -  
Monday-Thursday, August 24-27, 2026  
Chair Horowitz added comments.  
b.  
Oral update from the City Council Liaison to the Board.  
This item was heard after the Ceremonial Item.  
Vice-Mayor and Councilmember Foley updated the Board on pending matters before the City  
Council that were relevant to the Board. She also thanked CIO Palani for his service and  
wished him well in his retirement.  
c.  
Discussion and action to approve and for the Chair to execute the employment contract negotiated  
by designated labor negotiators for the new Chief Investment Officer.  
This item was heard after Item 5a.  
Chair Horowitz introduced the item. Trustee Chandra spoke on the item.  
Approved. (M.S.C. Chandra/Abbott 7-0-0). The motion passed unanimously by roll call vote.  
Trustee Abbott, Chair Horowitz, and Trustee Chandra offered a few kind words. Jay Kwon,  
Senior Investment Officer, thanked the Board and provided brief comments.  
d.  
Discussion and action on approval of the Strategic Plan - Workshop and Presentation by Aon.  
Julie Becker of Aon presented the item and responded to questions from Trustees Abbott,  
Chandra, Linder, and Nakagawa, Chair Horowitz, and Vice-Chair Faulkner. CEO Flynn  
assisted in responding to questions from Vice-Chair Faulkner and Trustees Nakagawa, Abbott,  
and Chandra.  
Chair Horowitz, Trustees Abbott, Chandra, Chi, Linder, and Nakagawa, Vice-Chair Faulkner,  
and CEO Flynn also provided comments.  
After a lengthy discussion, a motion was made to accept the Mission Statement, Vision  
Statement, and Core Values as presented in the Strategic Plan – Workshop presentation by  
Aon.  
Approved. (M.S.C. Linder/Chandra 7-0-0). The motion passed unanimously by roll call vote.  
A second motion was made to approve the Strategic Planning Themes as presented in the  
Strategic Plan – Workshop presentation by Aon.  
Approved. (M.S.C. Linder/Nakagawa 7-0-0). The motion passed unanimously by roll call vote.  
e.  
Discussion and action on adoption of updated City Policy Manual #1.8.1 - Use of City and  
Personal Vehicles Policy with Revised Date of February 27, 2026, for ORS Operations, approved  
by City on February 27, 2026.  
This item was heard after item 3f.  
This item was heard together with items 5f, 5g, and 5h.  
CEO Flynn presented the item and answered questions from Chair Horowitz.  
A motion was made to adopt the updated City Policy Manual #1.8.1 - Use of City and Personal  
Vehicles Policy with Revised Date of February 27, 2026, for ORS Operations, approved by City  
on February 27, 2026.  
Approved. (M.S.C. Chandra/Abbott 7-0-0). The motion passed unanimously by roll call vote.  
f.  
Discussion and action on adoption of updated City Policy Manual #4.2.2 - Military Leave Policy  
with Revised Date of February 27, 2026, for ORS Operations, approved by City on February 27,  
2026.  
This item was heard together with items 5e, 5g, and 5h.  
CEO Flynn presented the item.  
A motion was made to adopt the updated City Policy Manual #4.2.2 - Military Leave Policy  
with Revised Date of February 27, 2026, for ORS Operations, approved by City on February 27,  
2026.  
Approved. (M.S.C. Chandra/Abbott 7-0-0). The motion passed unanimously by roll call vote.  
g.  
Discussion and action on adoption of updated City Policy Manual #5.1.5 - Food and Beverage  
Expenditure (Non-Travel) Policy with Revised Date of March 3, 2026, for ORS Operations,  
approved by City on March 3, 2026.  
This item was heard together with items 5e, 5f, and 5h.  
CEO Flynn presented the item.  
A motion was made to adopt the updated City Policy Manual #5.1.5 - Food and Beverage  
Expenditure (Non-Travel) Policy with Revised Date of March 3, 2026, for ORS Operations,  
approved by City on March 3, 2026.  
Approved. (M.S.C. Chandra/Abbott 7-0-0). The motion passed unanimously by roll call vote.  
h.  
Discussion and action on adoption of updated City Policy Manual #5.1.2 - Procurement Card  
(P-Card) Policy with Revised Date of February 18, 2026, for ORS Operations, approved by City  
on February 18, 2026.  
This item was heard together with items 5e, 5f, and 5g.  
CEO Flynn presented the item.  
A motion was made to adopt the updated City Policy Manual #5.1.2 - Procurement Card  
(P-Card) Policy with Revised Date of February 18, 2026, for ORS Operations, approved by City  
on February 18, 2026.  
Approved. (M.S.C. Faulkner/Abbott 7-0-0). The motion passed unanimously by roll call vote.  
6.  
COMMITTEE MINUTES, REPORTS AND RECOMMENDATIONS  
6.1  
Investment Committee (Chandra, Faulkner, Abbott)  
Last Meeting: March 12, 2026 Next Meeting: April 28, 2026  
a.  
b.  
Oral update from the Chair of the Investment Committee.  
Chair Chandra updated the Board on the matters discussed at the previous meeting.  
Minutes of the Federated Investment Committee meeting from December 16, 2025. Receive and  
file.  
The Minutes were received and filed.  
6.2  
Audit/Risk Committee (Linder, Horowitz, Chi)  
Last Meeting: February 19, 2026 Next Meeting: May 21, 2026  
a.  
Oral update from the Chair of the Audit/Risk Committee.  
·
Approval of the Q4 2025 travel and attendance report for the Federated City Employee’s  
Retirement System.  
·
·
Nomination and Election of Audit Committee Vice Chairs.  
Introduction of Audit Consultant - Baker Tilly.  
·
·
Discussion and action on the Risk Assessment Overview and Timeline by Baker Tilly.  
Discussion of MGO’s FY2025 Observation #1 - Completeness and Accuracy of  
Participant Census Data.  
·
·
Discussion and action on the status of the outstanding Internal Audit recommendations.  
Discussion on status of outstanding Penetration testing recommendations.  
Chair Linder updated the Board on the matters discussed at the previous meeting.  
b.  
c.  
Minutes of the Joint Audit Committee meeting from October 30, 2025. Receive and file.  
The Minutes were received and filed.  
Discussion and action to accept 7 internal audit recommendations as “Complete” in the absence of  
an internal auditor.  
CEO Flynn presented the item.  
A motion was made to accept 7 internal audit recommendations as “Complete” in the  
absence of an internal auditor.  
Approved. (M.S.C. Chandra/Nakagawa 7-0-0). The motion passed unanimously by roll call  
vote.  
6.3  
Governance Committee (Abbott, Nakagawa, Chi)  
Last Meeting: March 18, 2026 Next Meeting: June 17, 2026  
a.  
Oral update from the Chair of the Governance Committee.  
Chair Abbott updated the Board on the matters discussed at the previous meeting.  
CEO Flynn added comments and answered questions from Chair Horowitz and Trustee  
Nakagawa. Chair Horowitz added comments.  
6.4  
FCERS Disability Committee (Faulkner, Linder, Nakagawa - Alt:Abbott)  
Last Meeting: February 10, 2026 Next Meeting: April 14, 2026  
a.  
Oral update from the Chair of the Disability Committee.  
Chair Faulkner advised the Board that the committee's scheduled meeting on April 14, 2026,  
has been cancelled. He also thanked Sandra Castellano, Benefits Division Manager, and her  
team for their great work.  
6.5  
Joint Personnel Committee (Chandra, Horowitz, Linder)  
Last Meeting: January 27, 2026 Next Meeting: April 1, 2026  
a.  
Oral update from the Chair of the Joint Personnel Committee.  
Chair Chandra advised the Board that the committee’s next meeting is scheduled for April 1,  
2026.  
7.  
EDUCATION & TRAINING  
The Education & Training was received and filed.  
a.  
b.  
c.  
d.  
e.  
f.  
Quarterly Trustee Education Opportunities Report.  
CALAPRS 2026 Program Calendar.  
CALAPRS Virtual Compliance Round Table, March 27, 2026.  
The 20th Edition of With Intelligence The Annual, Los Angeles, CA, April 20 - 22, 2026.  
SACRS Spring Conference 2026, Olympic Valley, CA, May 12 - 15, 2026.  
NCPERS Trustee Educational Seminars (TEDS), Las Vegas, NV, May 16 - 17, 2026.  
NCPERS The Annual Conference & Exhibition (ACE), Las Vegas, NV, May 17 - 20, 2026.  
g.  
•
PROPOSED AGENDA ITEMS  
None.  
Barbara Hayman, Deputy Director, acknowledged ORS staff member May W. Cheung and  
thanked her for her excellent service. Ms. Hayman and Chair Horowitz also wished her well  
in her retirement.  
•
•
ADJOURNMENT  
The meeting adjourned at 11:41 a.m.  
Next FCERS Board Meeting: April 16, 2026  
*Estimated  
Minutes Recorded, Prepared and Respectfully Submitted by,  
_________________________________________  
SPENCER HOROWITZ, CHAIR  
BOARD OF ADMINISTRATION  
ATTEST:  
_________________________________________  
JOHN FLYNN, CEO  
OFFICE OF RETIREMENT SERVICES  
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  
visiting the Retirement Services website at http://sjrs.legistar.com/calendar.aspx. If you have any  
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  
http://sjrs.legistar.com/calendar.aspx in a manner that explains the document is related to an agenda  
item for an upcoming meeting.  
The Code of Conduct  
(https://www.sanjoseca.gov/home/showpublisheddocument/12901/63667000496663000  
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.