Finance & Administration Committee - April 13, 2026

This committee ensures financial soundness through oversight of financial statements and reporting and all budget matters and oversees the organization's Strategic and Business Plans.

(Agenda items are provided in a PDF format, which require Adobe Reader 8 or higher to view.)

Items designated for Information are appropriate for Committee Action if the Committee wishes to take action. Any Agenda Item from a properly noticed Committee meeting may be considered by the Board at a subsequent Board meeting. The hour designated as the earliest starting time for this meeting is not intended to communicate the expected duration (or ending time) of the preceding meeting. Public comment may be taken on agenda items in accordance with applicable law. There is a three-minute limitation on each public comment, unless otherwise directed by the Presiding Officer. (Cal. Code Regs. tit 2, § 552.1.) Members of the public may provide public comment via telephone by calling (800) 259-4105. Board members may attend meetings of committees of which they are not members and participate in the discussions during those meetings. In accordance with Government Code section 11123.2 (amended by Stats. 2025, ch. 222, § 1), Board members may participate remotely via teleconference.

Meeting Agenda for April 13, 2026

Open Session

9:15 a.m.

Or Upon Adjournment or Recess of the Board Closed Session – Whichever is Later.

1. Item
   1. Call to Order and Roll Call (PDF)
   2. Executive Report (PDF) – Michele Nix
   3. Action Consent Items – Michele Nix
      1. Approval of the April 13, 2026, Finance and Administration Timed Agenda (PDF)
      2. Approval of the February 17, 2026, Finance and Administration Meeting Minutes (PDF)
      3. Semi-Annual Contracting Prospective Report (PDF)
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
      4. Valuation Report for the 1959 Survivor Benefit Program (PDF)
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
      5. Judges’ Retirement System Actuarial Valuation Report and Employer and Employee Contribution Rates (PDF)
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
      6. Legislators’ Retirement System Actuarial Valuation Report and Employer Contribution Rates (PDF)
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
   4. Information Consent Items – Michele Nix
      1. Annual Calendar Review (PDF)
      2. Draft Agenda for the June 2026 Finance and Administration Meeting (PDF)
      3. Semi-Annual Financial Report (PERF) (PDF)
         1. Attachment 1 (PDF)
      4. Pension Contracts Management Program Report (PDF)
         1. Attachment 1 (PDF)
   5. Action Agenda Items
      1. Modernizing Investment Data and Technology Update (PDF) – Robert Paterson, Jennifer
         Hafner
         1. Attachment 1 (PDF)
      2. 2026-27 Annual Budget Proposal (PDF) – Michele Nix, Will Schaafsma
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
      3. Annual Review of Board Member Employer Reimbursements (PDF) – Michele Nix, Janie
         Rajasuncy
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
      4. State Valuation and Employer/Employee Contribution Rates (PDF) – Scott Terando, Nina
         Ramsey
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
         3. Attachment 3 (PDF)
         4. Attachment 4 (PDF)
         5. Attachment 5 (PDF)
         6. Attachment 6 (PDF)
         7. Attachment 7 (PDF)
      5. Schools Valuation and Employer/Employee Contribution Rates (PDF) – Scott Terando, Paul
         Tschida
         1. Attachment 1 (PDF)
      6. Judges’ Retirement System II Actuarial Valuation Report and Employer and Employee Contribution Rates (PDF) – Randy Dziubek, Kurt Schneider
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
         3. Attachment 3 (PDF)
   6. Information Agenda Items
      1. Long-Term Care Valuation Report (PDF) – Fritzie Dorais
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
      2. Semi-Annual Health Plan Financial Report (PDF) – Emily Zhong
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
         3. Attachment 3 (PDF)
      3. Asset Liability Management: First Reading Judges, Judges II and Legislators Actuarial Assumptions (PDF) – Scott Terando, Randy Dziubek, Kurt Schneider
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
      4. Summary of Committee Direction – Michele Nix
      5. Public Comment
   7. Adjournment of Meeting