CITY COUNCIL
STUDY SESSION AGENDA
JOINT STUDY SESSION OF THE CITY COUNCIL, THE
FEDERATED CITY EMPLOYEES’ RETIRMENT BOARD,
AND THE POLICE & FIRE DEPARTMENT RETIREMENT
BOARD
March 30, 2023
1:30 P.M.
WING ROOMS 118-120
• Purpose
This Study Session will allow the City Council, the Federated City Employees’ Retirement System Board, and the Police and Fire Department Retirement Plan to hold a discussion about plan demographics and maturity level, strategic asset allocation and risk tolerance, and funding to include current contributions and expectations for the future.
• Outcome
The joint meeting will provide an opportunity for the City Council and the Retirement Boards to discuss the above issues and understand the current challenges facing each entity.
By the end of the Study Session, the Mayor and Councilmembers will:
• Understand the City’s strategic asset allocation,
• Understand San Jose Pension and OPEB funding, including current contributions and expectations for the future.
- 1 - 3/30/2023
CITY COUNCIL STUDY SESSION
1:30 p.m. – Study Session: Joint Meeting between the City Council and Retirement Boards, City Hall Wing Rooms 118-120
1. Introduction to San Jose Pension and OPEB Funding: Understanding Current Contributions and Expectations for the Future.
Actuarial consultant will present information on the San Jose Pension and OPEB funding, including an explanation of actuarial valuation and how that impacts current contributions and expectations for the future.
2. Overview of Strategic Asset Allocation.
Staff and investment consultants will discuss strategic asset allocation and investments for the trust funds.
• Public Comment
• Adjourn