Joint Meeting of the City Council, The
Federated City Employees’ Retirement
Board, and The Police & Fire
Department Retirement Board
BOARD OF ADMINISTRATION
Meeting Agenda - Final-revised
City Council, Wing Rooms 118-120, 200 E. Santa
Clara St., San Jose, CA 95112
1:30 PMThursday, March 30, 2023
HYBRID MEETING
Physical Location:
City Council, Wing Rooms 118-120
200 East Santa Clara St. San Jose, CA 95112
Zoom Link:
https://sanjoseca.zoom.us/j/88957084529
Federated Retirement Plan Board Members:
Spencer Horowitz, Chair (Term Expires 11/30/24)
Julie Jennings, Vice-Chair (Term Expires 11/30/23)
Anurag Chandra, Trustee (Term Expires 11/30/26)
Mark Keleher, Trustee (Term Expires 11/30/23)
*1731 Vallejo San Francisco, CA 94123
Mark Linder, Trustee (Term Expires 11/30/24)
*No. 1 The Plaza, Sonoma, CA 95476
Prachi Avasthy, Trustee (Term Expires 11/30/25)
Police and Fire Retirement Plan Board Members:
Drew Lanza, Chair, Public Member (Term Expires 4/30/23) Franco Vado, Vice-Chair, Police Retiree Rep (Term Expires 11/30/24) Sunita Ganapati, Trustee, Public Member (Term Expires 11/30/26) Andrew Gardanier, Trustee, Fire Active Rep (Term Expires 11/30/23) David Kwan, Trustee, Public Member (Term Expires 11/30/24) Howard Lee, Trustee, Public Member (Term Expires 11/30/26) Eswar Menon, Trustee, Public Member (Term Expires 11/30/26) Richard Santos, Trustee, Fire Retiree Rep (Term Expires 11/30/26) Dave Wilson, Trustee, Police Active Rep (Term Expires 11/30/25)
March 30, 2023Joint Meeting of the City Council,
The Federated City Employees’
Retirement Board, and The Police &
Fire Department Retirement Board
Meeting Agenda - Final-revised
In accordance with the requirements of AB 2449, the Board of Administration (“Board”) will generally, upon request, provide appropriate aids and services leading to effective communication for individuals with disabilities so they can participate equally in the Board’s meetings, including qualified sign language interpreters, documents in Braille, and other ways of making information and communications accessible to people who have speech, hearing, vision or other disabilities.
Anyone who requires an auxiliary aid or service for effective communication to participate in a Board meeting should contact the designated contact in Office of Retirement Services as far in advance of the scheduled meeting as possible. The Board strongly encourages individuals with disabilities to endeavor to submit requests for reasonable accommodation no later than five (5) business days before the scheduled meeting, as the Board may not be able to grant requests for reasonable accommodations without sufficient advance notice. The Board strongly encourages individuals with disabilities to submit their written requests via email or regular mail to facilitate tracking and response; however, if the submission of a written request constitutes a hardship, individuals may call the Office of Retirement Services to submit an oral request.
The designated contact in the Office of Retirement Services will endeavor to respond to each request within three (3) business days of receipt of the request. Depending on the request, the designated contact in the Office of Retirement Services may ask to schedule a time to discuss the request (which may occur virtually) to determine the most appropriate auxiliary aid or service, before the request is resolved.
ADA Designated Contact Information
Attention: Deputy Director/Chief Operations Officer, Office of Retirement Services Address: 1737 N First St #600, San Jose, CA 95112
Email: #[email protected]
Phone: 408-794-1000 (ORS Main Line)
AGENDA
• 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.
March 30, 2023Joint Meeting of the City Council,
The Federated City Employees’
Retirement Board, and The Police &
Fire Department Retirement Board
Meeting Agenda - Final-revised
• 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.
CITY COUNCIL STUDY SESSION
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.
1. 1. SJCityCouncil Pension-OPEB Funding 20230330.pdfAttachments:
Overview of Strategic Asset Allocation.
Staff and investment consultants will discuss strategic asset allocation and investments for the trust funds.
2. 2a-Joint Meeting City Council Study Session 3-30-23.pdf 2b-Joint Meeting City Council 3-30-23.pdf
Attachments:
• Public Comment
• Adjournment
March 30, 2023Joint Meeting of the City Council,
The Federated City Employees’
Retirement Board, and The Police &
Fire Department Retirement Board
Meeting Agenda - Final-revised
The Code of Conduct
(https://www.sanjoseca.gov/home/showpublisheddocument/12901/636670004966630000) is intended to promote open meetings that welcome debate of public policy issues being discussed by the City Council, their Committees, and City Boards and Commissions in an atmosphere of fairness, courtesy, and respect for differing points of view.
1. Public Meeting Decorum:
a) Persons in the audience will refrain from behavior which will disrupt the public meeting. This will include making loud noises, clapping, shouting, booing, hissing or engaging in any other activity in a manner that disturbs, disrupts or impedes the orderly conduct of the meeting. b) Persons in the audience will refrain from creating, provoking or participating in any type of disturbance involving unwelcome physical contact.
c) Persons in the audience will refrain from using cellular phones and/or pagers while the meeting is in session.
d) Appropriate attire, including shoes and shirts are required in the Council Chambers and Committee Rooms at all times.
e) Persons in the audience will not place their feet on the seats in front of them. f) No food, drink (other than bottled water with a cap), or chewing gum will be allowed in the Council Chambers and Committee Rooms, except as otherwise pre-approved by City staff. g) All persons entering the Council Chambers and Committee Rooms, including their bags, purses, briefcases and similar belongings, may be subject to search for weapons and other dangerous materials.
2. Signs, Objects or Symbolic Material:
a) Objects and symbolic materials, such as signs or banners, will be allowed in the Council Chambers and Committee Rooms, with the following restrictions: § No objects will be larger than 2 feet by 3 feet. -No sticks, posts, poles or other such items will be attached to the signs or other symbolic materials. -The items cannot create a building maintenance problem or a fire or safety hazard. b) Persons with objects and symbolic materials such as signs must remain seated when displaying them and must not raise the items above shoulder level, obstruct the view or passage of other attendees, or otherwise disturb the business of the meeting.
c) Objects that are deemed a threat to persons at the meeting or the facility infrastructure are not allowed. City staff is authorized to remove items and/or individuals from the Council Chambers and Committee Rooms if a threat exists or is perceived to exist. Prohibited items include, but are not limited to: firearms (including replicas and antiques), toy guns, explosive material, and ammunition; knives and other edged weapons; illegal drugs and drug paraphernalia; laser pointers, scissors, razors, scalpels, box cutting knives, and other cutting tools; letter openers, corkscrews, can openers with points, knitting needles, and hooks; hairspray, pepper spray, and aerosol containers; tools; glass containers; and large backpacks and suitcases that contain items unrelated to the meeting.
3. Addressing the Council, Committee, Board or Commission:
a) Persons wishing to speak on an agenda item or during open forum are requested to complete a speaker card and submit the card to the City Clerk or other administrative staff at the meeting. b) Meeting attendees are usually given two (2) minutes to speak on any discussion item and/or during open forum; the total amount of time allocated for public testimony for each public speaker or for an agenda item is in the discretion of the Chair of the meeting and may be limited when appropriate. (California Government Code Section 54954.3; Council Policy 0-37) Applicants and appellants in land use matters are usually given more time to speak. Speakers using a translator will be given twice the time allotted to ensure non-English speakers receive the same opportunity to directly address the Council, Committee, Board or Commission.
c) Speakers should discuss only the agenda item when called to speak for that item, and only topics related to City business when called to speak during open forum on the agenda.
March 30, 2023Joint Meeting of the City Council,
The Federated City Employees’
Retirement Board, and The Police &
Fire Department Retirement Board
Meeting Agenda - Final-revised
d) Speakers’ comments should be addressed to the full body. Requests to engage the Mayor, Council Members, Board Members, Commissioners or Staff in conversation will not be honored. Abusive language is inappropriate.
e) Speakers will not bring to the podium any items other than a prepared written statement, writing materials, or objects that have been inspected by security staff. f) If an individual wishes to submit written information, he or she may give it to the City Clerk or other administrative staff at the meeting.
g) Speakers and any other members of the public will not approach the dais at any time without prior consent from the Chair of the meeting.
Failure to comply with this Code of Conduct which will disturb, disrupt or impede the orderly conduct of the meeting may result in removal from the meeting and/or possible arrest.