Public Employees' Retirement Association Board Meeting

Raymond “Doc” Heath Memorial Boardroom
1301 Pennsylvania Street
Denver, CO

Friday, 6/17/2022
8:30 AM - 3:15 PM MT

1. Approval of Consent Agenda
    Presented By: Suzanne Kubec, Vice Chair, Board of Trustees Action
    - Approval of Agenda
    - Approval of March 18, 2022, Board Meeting Minutes (Tab A)
    - Resolution for Signature Authorization (Tab B)
    - Divestment from Companies with Prohibitions Against Israel Report (Tab C)

2. Public Comment
    Presented By: Suzanne Kubec, Vice Chair, Board of Trustees Information

3. Proclamation - Tina Mueh (Tab D)
    Presented By: Suzanne Kubec, Vice Chair, Board of Trustees Action

4. 2022 Board Election Results (Tab E)
    Presented By: Sarah Wager, PERA Internal Audit Director Action

5. Committee Reports Information/Action
    - Executive Committee
       Presented By: Suzanne Kubec, Vice Chair, Board of Trustees Information
    - Ad Hoc Committee—Board Local Government Vacancy
       Presented By: Suzanne Kubec, Committee Chair Action
    - Audit Committee 
       Presented By: Timothy M. O'Brien, Committee Chairman Information
    - Benefits Committee
       Presented By: Guillermo Barriga, Board of Trustees Information
    - Investment Committee
       Presented By: Rebecca Freyre, Committee Chair Information

6. Investment Performance Report (Tab F)
    Presented By: Amy C. McGarrity, PERA Chief Investment Officer/Chief Operating Officer, John Lee, Aon,  Partner, Katie Comstock, Aon, Associate Partner Information

7. Actuarial Valuation (Tab G)
    Presented By: Segal Consulting:Brad Ramirez, Vice President & Consulting Actuary, Matt Strom, Senior Vice President and Consulting Actuary, Melissa Krumholz, Senior Healthcare Consulting Actuary Information

8. Release of 2021 Annual Financial Report (Tab H)
    Presented By: Timothy O'Brien, Committee Chairman Action

9. Legislative Update (Tab I1,  Tab I2)
    Presented By: Ron Baker, PERA Executive Director, Michael Steppat, PERA Public & Government Affairs Manager Information

10. Communications Update (Tab J)
    Presented By: Patrick von Keyserling, PERA Senior Director Communications, James Chung, Reach Advisors, President Information

11. Staff Reports
Executive Director Report (Tab K)
    Presented By: Ron Baker, PERA Executive Director Information
    - Market and Portfolio Update (Tab L)
      Presented By: Amy C. McGarrity, PERA Chief Investment Officer/Chief Operating Officer Information
    - Legal Update
      Presented By: Kevin Gallaway, PERA General Counsel Information
     ​​​​​​​    -  In accord with the Colorado Open Meetings Act, the Board of Trustees in Open Session is to determine whether it will hold a Closed Executive Session. The issues to be discussed involve pending or imminent litigation and specific legal questions addressed to General Counsel regarding the following:
          ​​​​​​​    - Volkswagen Foreign Litig​​​​​​​    - ation
          ​​​​​​​    - Petrobras ArbitrationIn re Mitsubishi Motors Corporation International Securities Litigation
          ​​​​​​​    - Doris Behr 2012 Irrevocable Trust v. Johnson & Johnson
          ​​​​​​​    - Nissan Foreign Litigation
          ​​​​​​​    - Danske Bank Foreign Litigation
          ​​​​​​​    - Jerome Greene v. PERA
          ​​​​​​​    - PERA v. Tri-County Health Department, Douglas County, Arapahoe County and Adams County
          ​​​​​​​    - Daimler
          ​​​​​​​    - Kansai Electric Power Co, Inc.
          ​​​​​​​    - Settlements
          ​​​​​​​    - C.R.S. § 24-51-205(6)(b) Staff Decisions Reversed by the Executive Director

12. 2022 Board Planning Session Topics
    Presented By: Suzanne Kubec, Vice Chair, Board of Trustees Information

13. Other Business
    Presented By: Suzanne Kubec, Vice Chair, Board of Trustees Information

14. 2022 Board Meeting Dates Information
​​​​​​​    - September 21-23, 2022 Planning Session and Board Meeting
​​​​​​​    - November (17) 18, 2022