General Information

Government Type

Independent or Quasi-Government

Entity

Utah State Retirement Office

Public Body

Utah State Retirement Board

Notice Information

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Notice Title

Administrative Board Meeting Minutes

Notice Type(s)

Meeting

Event Start Date & Time

March 19, 2026 01:00 PM

Description/Agenda

MINUTES OF THE UTAH STATE RETIREMENT BOARD ADMINISTRATIVE BOARD MEETING March 19, 2026, 1:00 p.m. 540 Board Room, Retirement Office 540 East 200 South, Salt Lake City, Utah Hybrid Meeting Board Members Attending In-Person: Mr. Marlo Oaks, Board President Ms. Aaryn Birchell, Board Member Mr. Richard Ellis, Board Member Mr. Larry Evans, Board Member Ms. Laura Warnock, Board Member Mr. Karl Wilson, Board Member Board Members Attending Virtually: Ms. Christie Behunin, Board Vice President Staff Attending In-Person: Mr. Dan Andersen, Executive Director Mr. Kory Cox, Director of Legislative and Government Affairs Mr. Rob Dolphin, Chief Financial Officer Mr. Dee Larsen, General Counsel Mr. Chet Loftis, PEHP Director Ms. Stacie Petersen, Executive Assistant Mr. Kendall Rima, Managing Director - Retirement Staff Attending Virtually: Mr. Dave Bjarnason, Chief Compliance Officer - Investments Mr. Jason Morrow, Deputy Chief Investment Officer Call to Order President Marlo Oaks called the meeting to order at 1:07 p.m. and welcomed Board members and staff. Approval of Minutes ACTION: Ms. Aaryn Birchell moved, seconded by Ms. Laura Warnock, to approve the minutes of the February 19, 2026, Administrative Board Meeting. The motion passed unanimously, 7-0. ACTION: Mr. Richard Ellis moved, seconded by Mr. Karl Wilson, to approve the minutes of the February 19, 2026, Investment Board Meeting. The motion passed unanimously, 7-0. FTE Requests Mr. Dan Andersen discussed the rationale and business need for the new FTE requests. ACTION: Mr. Richard Ellis moved, seconded by Mr. Larry Evans, to approve the following new FTEs and the associated budget increase: - URS - Investment Analyst - URS - Portfolio Analyst - URS - Senior Compliance Officer - Investments The motion passed unanimously, 7-0. 2026-2027 Final Contribution Rates Approval Mr. Dan Andersen reviewed the 2026-2027 Contribution Rates for final approval by the Board. He noted that there was no legislation passed in the 2026 legislative general session that affects the preliminary 2026-2027 Contribution Rates that were approved by the Board on August 21, 2025, with a revised Tier 2 Public Safety and Firefighter Hybrid plan approved on November 20, 2025. ACTION: Mr. Karl Wilson moved, seconded by Ms. Aaryn Birchell, to give final approval of the Contribution Rates for the 2026-2027 fiscal year as presented in the Board Meeting materials. The motion passed unanimously, 7-0. Review of Legislative Session - URS Mr. Dee Larsen gave a review of the 2026 legislative session. A 2026 Retirement bill tracker was provided in the Board Meeting materials. Review of Legislative Session - PEHP Mr. Chet Loftis gave a review of the 2026 legislative session regarding legislation relating to PEHP. At 2:02 p.m., Mr. Larry Evans moved, seconded by Ms. Laura Warnock, to move into Closed Session to discuss confidential legal matters. The motion passed unanimously, 7-0. At 2:07 p.m., Mr. Richard Ellis moved, seconded by Mr. Karl Wilson, to move back into Open Session. The motion passed unanimously, 7-0. Final Motions/Other Business Stipulated Order of Voluntary Dismissal 25-07H ACTION: Mr. Karl Wilson moved, seconded by Mr. Richard Ellis, to approve the Stipulated Order of Voluntary Dismissal 25-07H as submitted by the Adjudicative Hearing Officer. The motion passed unanimously, 7-0. Adjournment Mr. Karl Wilson moved, seconded by Ms. Aaryn Birchell, to adjourn the meeting. The motion passed unanimously, 7-0. The meeting adjourned at 2:07 p.m. ________________________________________ Marlo M. Oaks, President ________________________________________ Daniel D. Andersen, Executive Director

Notice of Special Accommodations (ADA)

In compliance with the Americans with Disabilities Act, persons needing auxiliary communicative aids and services for this meetings should call Stacie Petersen at 801-366-7302 or use Relay Utah (toll-free in-state 7-1-1 or Spanish-language 888-346-3162), giving her at least 48 hours notice or the best notice practicable.

Notice of Electronic or Telephone Participation

NA

Other Information

As a part of security procedures, attendees should be prepared to present a photo ID at the lobby registration desk during a check-in process. Seating will be limited to the room capacity and seats will be on a first come, first served basis.

Meeting Information

Meeting Location

540 East 200 South
Salt Lake City, UT 84102
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Contact Name

Stacie Petersen

Contact Email

stacie.petersen@urs.org

Notice Posting Details

Notice Posted On

April 17, 2026 09:41 AM

Notice Last Edited On

April 17, 2026 09:41 AM

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