Public Employees' Retirement Association Board Meeting

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

Friday, 3/18/2022
8:30 AM - 3:00 PM MT

1. Approval of Consent Agenda
Presented By: Marcus Pennell, Chairman, Board of Trustees Action

• Approval of Agenda
• Approval of January 21, 2022, Board Meeting Minutes (Tab A)
• Divestment from Companies with Prohibitions Against Israel Restricted Company List (Tab B)

2. Public Comment
Presented By: Marcus Pennell, Chairman, Board of Trustees Information

3. Committee Reports Information/Action

• Executive Committee
  Presented By: Suzanne Kubec, Vice Chair, Board of Trustees
• Audit Committee
  Presented By: Timothy M. O'Brien, Committee Chairman
• Benefits Committee
  Presented By: Tina Mueh, Committee Chair
• Compensation and Budget Committee
  Presented By: Amy Grant, Committee Chair
• Evaluation Committee
  Presented By: Marcus Pennell, Chairman, Board of Trustees
• Investment Committee
  Presented By: Rebecca Freyre, Committee Chair

4. 2022 Board Election (Tab C)
Presented By: Kevin Carpenter, PERA Chief Administrative Officer Action

5. Educational Workshop – Principals of Benchmarking (Tab D)
Presented By: John Lee, Aon, Partner; Katie Comstock, Aon, Associate Partner Information

6. Actuarial Audit Service Provider RFP (Tab E)
Presented By: Ron Baker, PERA Executive Director; Koren Holden, PERA Senior Actuary Information/Action

7. Legislative Update (Tab F)
Presented By: Ron Baker, PERA Executive Director, Michael Steppat, PERA Public & Government Affairs Manager Information/Action

8. Cyber Security Update
Presented By: John Carreon, PERA Director of Information Technology Information

• In accordance 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 details of security arrangements concerning PERA.

9. Fiduciary Counsel Review (Tab G)
Presented By: Adam Franklin, PERA General Counsel Information/Action

10. Staff Reports

• Executive Director Report (Tab H)
  Presented By: Ron Baker, PERA Executive Director Information
• Market and Portfolio Update (Tab I)
  Presented By: Amy C. McGarrity, PERA Chief Investment Officer Information
• Chief Benefits Officer Update (Tab J)
  Presented By: Patrick Lane, PERA Chief Benefits Officer Information
• General Counsel Update  (Privileged and Confidential)
  Presented By: Adam L. Franklin, 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 Litigation | Petrobras Arbitration | In 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 | Daimler | Settlements | C.R.S. § 24-51-205(6)(b) Staff Decisions Reversed by the Executive Director

11. Other Business
Presented By: Marcus Pennell, Chairman, Board of Trustees Information

12. 2022 Board Meeting Dates Information

• June (16) 17, 2022
• September 21-23, 2022 Planning Session and Board Meeting
• November (17) 18, 2022