Public Employees' Retirement Association Board Meeting

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

Friday, 11/18/2022
9:00 AM - 3:10 PM MT

1. Approval of Consent Agenda (Governance Item) Action
   Presented By: Marcus Pennell, Chairman, Board of Trustees
   • Approval of Agenda
   • Approval of September 21, 2022, Board Planning Session Minutes (Tab A)
   • Approval of September 22, 2022, Planning Session Minutes (Tab B)
   • Approval of September 23, 2022, Board Meeting Minutes (Tab C)
   • January 20, 2023, Board Meeting Date
2. Public Comment (Governance Item) Information/Discussion
   Presented By: Marcus Pennell, Chairman, Board of Trustees
3. Calendar Year 2023 Committee Preferences (Governance Item) Information/Discussion
   Presented By: Marcus Pennell, Chairman, Board of Trustees
4. Committee Reports (Governance Item)
   • Executive Committee Information
     Presented By: Suzanne Kubec, Vice Chair, Board of Trustees
   • Audit Committee Information
     Presented By: Timothy M. O'Brien, Chairman, Audit Committee
   • Benefits Committee Information
     Presented By: Julie Friedemann, Chair, Benefits Committee
   • Compensation & Budget Committee Committee Action
     Presented By: Amy Grant, Chair, Compensation & Budget
   • Evaluation Committee Information
     Presented By: Marcus Pennell, Chairman, Board of Trustees
   • Investment Committee Information
     Presented By: Rebecca Freyre, Chair, Investment Committee Information
5. 2023 Board Election Calendar (Tab D) (Statutory Item) Action
   Presented By: Sarah Wager, PERA Director of Internal Audit
6. Member Contribution Interest Rate (Tab E1, E2) (Statutory Item) Action
   Presented By: Ron Baker, PERA Executive Director
7. Actuarial Audit Results (Tab F1, F2, F3) (Governance Item) Information
   Presented By: Ron Baker, PERA Executive Director; Buck's David Driscoll, Principal, Consulting Actuary; Mike Ribble, Principal, Consulting Actuary; Kevin Penderghest, Director, Consulting Actuary
8. Strategic Plan Update (Tab G) (Strategic Planning) Information
   Presented By: Ron Baker, PERA Executive Director; Amy McDuffee, Founder/CEO, Mosaic Governance Advisors, LLC; Catherine Jackson, CPA, CA, Mosaic Governance Advisors, LLC
9. Staff Reports (Governance Item) Information/Discussion
   • Executive Director Report (Tab H)
     Presented By: Ron Baker, PERA Executive Director
   • Market & Portfolio Update (Tab I)
     Presented By: Amy C. McGarrity, PERA Chief Investment Officer/Chief Operating Officer
   • Legal Update
     Presented By: Kevin Gallaway, PERA General Counsel
     • 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 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
       • Daimler
       • Kansai Electric Power Co, Inc.
       • Jerome Greene v. PERA
       • PERA v. Tri-County Health Department, Douglas County, Arapahoe County and Adams County
       • Braaten v. Unum and PERA
       • Laurie Freedle v. Unum and PERA
       • Settlements
       • C.R.S. § 24-51-205(6)(b) Staff Decisions Reversed by the Executive Director
10. Meet with the Executive Director (Governance Item) Information
    Presented By: Marcus Pennell, Chairman, Board of Trustees
    • 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 which is allowed when the issues to be discussed involve personnel matters pursuant to C.R.S. § 24-6-402(3)(b)(I).
11. Other Business Information/Discussion
    Presented By: Marcus Pennell, Chairman, Board of Trustees
12. 2023 Board Meeting Dates Information
    • January 20, 2023
    • March (23) 24, 2023
    • June (15) 16, 2023
    • September 20-22, 2023, Planning Session and Board Meeting
    • November (16) 17, 2023