The Municipal Employee's Pension Commission (the Commission) met on May 19, 2023.
The Commission approved the 2023-2024 Strategic Business Plan for the Municipal Employees' Pension Plan (MEPP, the Plan).
Meeting with the actuary for MEPP, the Commission approved the draft report on the management valuation of MEPP effective December 31, 2022. Additionally, the Commission received information on the benefits offered by MEPP as compared to those offered by select other defined benefit pension plans.
Meeting with its general investment consultant, the Commission received a report on the Plan's investment as of March 31, 2023.
Meeting with its administrator, the Public Employees Benefits Agency (PEBA), the Commission approved the changes to the operating model of the Private Markets Committee. Also, meeting with it's administrator, the Commission approved a communications plan supporting PEBA's transition to a not-for-profit corporation. Additionally, the Commission received a report on the Plan's financial position and budget as of March 21, 2023.
In alignment with its Acquisition and Retention of Services policy, the Commission reviewed and approved the annual evaluations of its auditor, investment legal service provider and private markets consultant.
The Commission received a presentation on the transition of the Information Services Corporation from a government entity to a not-for-profit corporation.
The Commission received an update on its annual work plan for September 2022 to June 2023. The update tracks the progress of the strategic initiatives identified the Commission's 2022-2024 Strategic Business Plan. The Commission also received an education report from a member who attended an education event, and routine reports that serve to track the Commission's governance of the Plan.