General Information

Government Type

Independent or Quasi-Government

Entity

Utah State Retirement Office

Public Body

Utah State Retirement Board

Notice Information

Add Notice to Calendar

Notice Title

Administrative Board Meeting Minutes

Notice Type(s)

Meeting

Event Start Date & Time

May 21, 2026 01:00 PM

Description/Agenda

MINUTES OF THE UTAH STATE RETIREMENT BOARD ADMINISTRATIVE BOARD MEETING May 21, 2026, 1:00 p.m. 540 Basement Conference Room, Retirement Office 540 East 200 South, Salt Lake City, Utah Hybrid Meeting Board Members Attending In-Person: Mr. Marlo Oaks, Board President Ms. Christie Behunin, Board Vice President Ms. Aaryn Birchell, Board Member Mr. Richard Ellis, Board Member Mr. Larry Evans, Board Member Ms. Laura Warnock, Board Member Board Members Attending Virtually: Mr. Karl Wilson, Board Member Staff Attending In-Person: Mr. Dan Andersen, Executive Director Mr. Rob Dolphin, Chief Financial Officer Mr. Dee Larsen, General Counsel Mr. Marc Lawson, Internal Audit Director Ms. Stacie Petersen, Executive Assistant Mr. Kendall Rima, Managing Director - Retirement Mr. Darron Schryver, Chief Information Security Officer Staff Attending Virtually: Mr. Kory Cox, Director of Legislative & Government Affairs Mr. Chet Loftis, PEHP Director Mr. Rich Matheson, Director - Investments Call to Order Mr. Marlo Oaks called the meeting to order at 1:01 p.m. and welcomed Board members and staff. Approval of Minutes ACTION: Ms. Christie Behunin moved, seconded by Ms. Aaryn Birchell, to approve the minutes of the April 16, 2026, Administrative Board Meeting. The motion passed unanimously, 6-0. Mr. Karl Wilson was absent for this vote. ACTION: Mr. Richard Ellis moved, seconded by Ms. Aaryn Birchell, to approve the minutes of the April 16, 2026, Investment Board Meeting. The motion passed unanimously, 6-0. Mr. Karl Wilson was absent for this vote. URS/PEHP Employee Medical/Rx, Dental, LTD and Group Term Life Insurance Budget 2025-2026 Mr. Rob Dolphin reviewed the URS/PEHP Employee Medical/Rx, Dental, LTD and Group Term Life Insurance Budget for 2026-2027. The Medical/Rx premium will have an overall increase of 11.80%. Dental will have a 4.60% increase. The Group Term Life insurance premium per employee will remain unchanged at $65.40. LTD premium rate will be reduced from 0.605% to 0.425%, primarily due to discontinuation of the mental-health pilot program. ACTION: Ms. Christie Behunin moved, seconded by Mr. Richard Ellis, to approve the proposed budget for the URS/PEHP Employee Medical/Rx, Dental, LTD and Group Term Life insurance premiums for the July 1, 2026, to June 30, 2027, fiscal year. The motion passed unanimously, 7-0. PEHP Financial Report Mr. Rob Dolphin reviewed and Mr. Chet Loftis provided additional comments regarding the 2025 PEHP Financial Report, including: - Summary of Financial Results - Investment Results - Operations by Line of Business o Medical & Reinsurance, Dental, LTD, and Life o Days in Reserve At 1:25 p.m., Ms. Laura Warnock moved, seconded by Mr. Larry Evans, to move into Closed Session to discuss confidential cybersecurity and audit matters. The motion passed unanimously, 7-0. At 2:23 p.m., Ms. Aaryn Birchell moved, seconded by Ms. Christie Behunin, to move into Executive Session to discuss fiduciary matters. The motion passed unanimously, 7-0. Executive Session The following were present: - Board Members - Mr. Dan Andersen - Mr. Rob Dolphin - Mr. Dee Larsen - Mr. Kendall Rima Ms. Christie Behunin moved, seconded by Ms. Aaryn Birchell, to move back into Open Session. The motion passed unanimously, 7-0. The meeting resumed at 3:09 p.m. Adjournment Mr. Richard Ellis moved, seconded by Ms. Aaryn Birchell, to adjourn the meeting. The motion passed unanimously, 7-0. The meeting adjourned at 3:09 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
Show in Apple Maps Show in Google Maps

Contact Name

Stacie Petersen

Contact Email

stacie.petersen@urs.org

Notice Posting Details

Notice Posted On

June 19, 2026 08:45 AM

Notice Last Edited On

June 19, 2026 08:45 AM

Subscribe by Email

Subscription options will send you alerts regarding future notices posted by this Body.