Firefighters' Retirement System Board of Trustees public meetings in 2022
12 substantive meetings from 2022, with official agendas or minutes and plain-English summaries.
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will discuss and take action on a pending lawsuit (Piro et al. v. FRS) and elect a retiree representative. They will also review the 2021-22 annual financial statement, consider amendments to the 2022-23 operating budget, and discuss alternative methods for cost-of-living adjustments (COLA) as part of a trustee training session. Additionally, the board will consider legislation to be introduced in the 2023 regular legislative session.
- Election of Retiree Representative and discussion of lawsuit Piro et al. v. FRS (Suit No. C726063)
- Review and adoption of new members, disability applicants, retirees, and survivor applicants
- Discussion and action on lawsuit FRS v. Citco Group Limited (Suit No. 3:13-cv-00373-SDD-EWD)
- Discussion and action regarding 2021-22 FRS Annual Financial Statement and CEO compensation schedule
- Discussion and action on amendments to 2022-23 FRS operating budget and alternative COLA methods
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees is meeting to review membership applications and financial reports. The board will decide on the annual valuation rate and the June 30, 2021 actuarial valuation. Additionally, the board will discuss investment performance and cost-of-living adjustment methods.
- Approval of annual FRS valuation rate
- FRS Actuarial Valuation as of June 30, 2021
- MSCI Emerging Markets Index Manager Search
- Alternative methods of granting Cost-of-Living Adjustments (COLA)
- Election of FRS Retiree Representative to the Board of Trustees
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will review applications for disability, retirement, and survivor benefits. The meeting also includes discussions on investment performance, COLA study committee reports, and system upgrades.
- Review and adoption of disability, retiree, and survivor applicants
- Discussion of September 2022 monthly investment performance results
- Report on alternative methods for granting Cost-of-Living Adjustments (COLA)
- Progress update on the FRS operating system upgrade by vendor PTG
- Discussion regarding replacement of obsolete telephone service and equipment
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will consider minutes, disability applications, and a lawsuit against Joseph R. Greco, Jr. They will also review August 2022 investment performance, asset allocation, and alternative cost-of-living adjustment methods. Joint advisory committee meetings for several LLCs are scheduled.
- Discussion and action on lawsuit Firefighters Retirement System v. Joseph R. Greco, Jr. et al.
- Review of FRS monthly investment performance results for August 2022
- Discussion of 2022 Asset Allocation Update and Review
- Report on alternative methods of granting Cost-of-Living Adjustments (HR136 Study)
- Advisory action on updates for LLCs: FRS-LB, FRS-LB#1, FRS-LB#3, and FRS-GA
Firefighters' Retirement System Board of Trustees
The board will consider minutes, approve disability and survivor applicants, and review investment performance for July 2022. They will also discuss alternative methods for cost-of-living adjustments (COLAs) and review financial statements for the fiscal year ending June 30, 2022.
- Approval of minutes from July 14, 2022 meeting
- Review and adoption of new members, disability applicants, retirees, and survivors
- Investment Committee report: July 2022 performance and asset allocation update
- HR136 COLA Study Committee: discussion of alternative COLA methods
- Review of preliminary financial statements for Q4 FY2021-22
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will review disability applications and June 2022 investment performance. The board will also discuss the Investment Policy Statement and alternative methods for granting Cost-of-Living Adjustments (COLA).
- Review and adoption of disability applicants, recertifications, and survivor applicants
- Discussion and action on June 2022 monthly investment performance results
- Discussion and action regarding the FRS Investment Policy Statement
- Discussion and action on alternative methods for granting Cost-of-Living Adjustments (COLA)
- Joint meeting of Advisory Committees for LLCs FRS-LB, FRS-LB#1, FRS-LB#3, and FRS-GA
Firefighters' Retirement System Board of Trustees
The board will discuss and take action on the FRS Operating Budget for fiscal year 2022-2023, investment performance results for May 2022, and revised actuarial equivalence factors for benefit calculations. They will also review disability and retirement applicants, and consider legislation from the 2022 regular session.
- Review and adoption of disability, retirement, and survivor applicants
- Investment Committee report on monthly performance and Russell 1000 Value Index Fund search
- Budget and Finance Committee report on FRS Operating Budget FY 22-23
- Discussion and action on revised actuarial equivalence factors for benefit calculations
- Discussion of legislation introduced in the 2022 regular legislative session
Firefighters' Retirement System Board of Trustees
The board will vote on a contract for actuarial services with G.S. Curran & Co. for FY 2022-2023, review investment performance for April 2022, and discuss legislation in the regular session. Also on the agenda: approval of disability and retirement applicants, and quarterly financial statements.
- Discussion and action on G.S. Curran & Co. actuarial services contract for FY 2022-2023
- Investment committee report: monthly performance and asset allocation update from NEPC
- Status of Bank of New York as custodial agent and related RFP
- Review of FRS budget to actual expenditure comparison for Q1 2022
- Discussion of legislation introduced in the 2022 regular legislative session
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will meet to discuss minutes from the March 2022 meeting. The board will also review applications for disability, retirement, and survivor benefits, and receive an update on the FRS software conversion.
- Review of March 9-10, 2022, meeting minutes
- Review of new disability, retirement, and survivor applicants
- Update from Pension Technology Group regarding software conversion
- Joint meeting of Advisory Committees for FRS-LB, FRS-LB#1, FRS-LB#3, and FRS-GA
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will meet to discuss selecting finalists for the Fund of One investment. The board will also review February 2022 investment performance, disability applications, and proposed 2022 legislation.
- Selection of investment finalists Hamilton Lane and Harbourvest for Fund of One
- Review of February 2022 monthly investment performance results
- Review and adoption of disability, retirement, and survivor applicants
- Presentation of the 2022 Asset Allocation Update by NEPC
- Discussion of the Segal/Marco Operational Review Report
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will discuss and vote on reducing required insurance coverage from $2 million to $1 million for four FRS limited liability corporations. The board will also hear investment presentations, review an actuarial study, and consider proposed policies on third-party processing and hard drive review. New member and disability applications will be reviewed and adopted.
- Discussion and action on reducing insurance coverage from $2mn to $1mn for FRS-LB, FRS-LB#1, FRS-LB#3, and FRS-GA
- Presentation by Invesco Oppenheimer Developing Markets Fund and NEPC on investment risks
- Discussion and action on Segal Marco actuarial study of FRS portfolio
- Presentation by Legislative Auditor's Office on Actuarial Review of 2021 Valuation
- Proposed policies: Third Party Processing and Hard Drive Review
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will discuss and take action on the Investment Committee Report, including a presentation by BlackRock on the Global Tactical Asset Allocation strategy and December 2021 performance. The board will also consider the FRS Employer Pension Report for the year ended June 30, 2021, and proposed legislation for the 2021 regular session. Additionally, they will review an Agreed Upon Procedures report and a report required by HR166.
- Presentation by BlackRock on Global Tactical Asset Allocation (GTAA) strategy and performance
- FRS monthly investment performance results for December 2021
- Discussion and action on FRS Employer Pension Report for year ended June 30, 2021
- Discussion and action on Agreed Upon Procedures (AUP) report for FRS-LB, FRS-LB#1, FRS-LB#3, and FRS-GA
- Discussion and action on legislation proposed for the 2021 regular legislative session