Colorado PERA Board of Trustees Meeting (BOT)              

Cheyenne Mountain Resort

3225 Broadmoor Valley Road

Colorado Springs, Colorado         

Friday, 9/22/2023

8:30 AM - 12:00 PM MT

1. Approval of Consent Agenda (Governance Item) Action 

Presented By: Marcus Pennell, Chair, Board of Trustees

• Board Meeting Agenda
• June 1, 2023, Board Meeting Minutes (Tab A)
• June 16, 2023, Board Meeting Minutes (Tab B)
• Divestment From Companies With Prohibitions Against Israel Restricted Company List (Tab C)
• Board Committee Assignments (Tab D)

2. Public Comment (Governance Item) Information

Presented By: Marcus Pennell, Chair, Board of Trustees

3. Trustee JB Phillips Proclamation (Tab E) Action

Presented By: Suzanne Kubec, Vice Chair, Board of Trustees

4. Committee Reports (Governance Item) Information

• Executive Committee Information

 Presented By: Suzanne Kubec, Vice Chair, Board of Trustees Information

• Ad Hoc Committee - Executive Director Search Information

Presented By: Taylor McLemore, Committee Chair

5. Evaluation Committee Workplan Action

Presented By: Marcus Pennell, Chair, Board of Trustees

6. AI in Focus: Insights from Public and Private markets (Tab F) (Education Workshop) Information 

Presented By: Michael McLean, Head of Private Equity Technology Investments, Schroders

7. Asset/Liability Study (Tab G1, G2) (Governance Item) Information 

Presented By: Amy C. McGarrity, PERA Interim Executive Director/CIO; Katie Comstock, Partner; Phil Kivarkis, Partner-Head of Investment Policy Services; Richard Parker, Partner

8. Staff Reports (Governance Item)

• Interim Executive Director Report (Tab H) Information

Presented By: Amy C. McGarrity, PERA Interim Executive Director/Chief Investment Officer

• Market and Portfolio Update (Tab I) Information

Presented By: Amy C. McGarrity, PERA Interim Executive Director/Chief Investment Officer

• Chief Benefits Officer Update (Tab J) Information

Presented By: Patrick Lane, PERA Chief Benefits Officer

• Legal Update Information

Presented By: Kevin Gallaway, PERA General Counsel

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 pursuant to C.R.S. § 24-6-402(3)(a)(II). The issues to be discussed involve pending or imminent litigation and specific legal questions regarding issues relevant to PERA addressed to General Counsel, including the following matters:

• 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
• PERA v. Tri-County Health Department, Douglas County, Arapahoe County and Adams County
• Daimler
• Settlements (if any)
• C.R.S. § 24-51-205(6)(b) Staff Decisions Reversed by the Executive Director (if any)

9. Proposed 2024 Board Meeting Dates (Governance Item) Action

Presented By: Amy C. McGarrity, PERA Interim Executive Director/Chief Investment Officer

• January 19, 2024
• March (14)15, 2024
• June (15) 16, 2024
• September 18-20, 2024 Planning Session and Board Meeting
• November (14) 15, 2024

10. Other Business (Exhibit B) Information

Presented By: Marcus Pennell, Chair, Board of Trustees

11. 2023 Board Meeting Dates Information

– November (16) 17, 2023