General Employees Retirement Board - Regular Meeting

0:07•SSSeth E. Salver

We're going to call the meeting to order.

0:53 – 1:13•SSSeth E. Salver

Thank you. We have the board minutes from the September 17th meeting. I'll move in. We have a motion. Do we have a second? We have a motion and a second. All in favor? Aye. Aye. Aye. Any opposed? Motion carries. The investment consultant presentation.

3:34•SSSeth E. Salver

Are there any questions on the part of the committee? Seeing none, Lourdes, any? No? Please proceed, Scott.

4:26 – 4:39•SSSeth E. Salver

And in the future, should there be a change in the investment approach that would require this, we would go back and review the investment policy at that time and make the appropriate revision. Discussion on the part of the committee?

4:43 – 5:14•SSSeth E. Salver

All right. Is there a motion? I think you should move to add it to the agenda, right? What's the process? Move to add it to the agenda and then move to... All right. So I'll move to add it to the agenda. I'll second it. We have a motion and a second to add it to the agenda. Any opposed? No. Nobody's opposed. Then there will need to be a motion to adopt the revision to the investment policy. I'll make that motion as well. We have a motion and a second. Any opposed?

13:45•SSSeth E. Salver

Mr. Manager, do you have any comments beyond?

14:30•SSSeth E. Salver

I would agree we're not done. it can flip the following year as well. So this is a year-to-year test in terms of that.

14:46 – 15:01•SSSeth E. Salver

Well, I think that we've been prudent in terms of the assumptions, in terms of the results, and in terms of the treatment. Are there any recommended – I'm sorry, were you finished? That was it, sir. Are there any recommended revisions –

16:01 – 16:19•SSSeth E. Salver

Okay. Are there any questions on the part of anybody else on the committee? Seeing none, thank you very much. Thank you for being here this evening. Thank you, Peter. Item 6, lump sum distributions for approval. Who's going to handle?

16:24 – 16:45•SSSeth E. Salver

Just accept it by... You want us to accept it? Okay. Do we need a motion? I'll second the motion to accept, so we have the motion in a second. Any opposed? Motion carries. Anything further on that? No? All right. Thank you very much. Want some distributions for approval, Mr. Manager?

17:25 – 17:44•SSSeth E. Salver

Can we do them as one group? All right, so I'll make the motion. We have a motion and a second. Any opposed? Motion carries. Thank you. Drop exit distribution, Mr. Manager?

18:11 – 18:25•SSSeth E. Salver

I'll make the motion. Is there a second? Seconded. We have a motion and a second. Any opposed? Nobody's opposed. Motion carries. There being no further business of the Retirement Board,