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 Tags

Retirement

Notice Type(s)

Meeting

Event Start Date & Time

April 8, 2021 03:00 PM

Description/Agenda

UTAH STATE RETIREMENT BOARD MINUTES OF THE ADMINISTRATIVE BOARD MEETING April 8, 2021, 3:00 p.m. Via Video Conference Participated via Video Conference: Mr. David Damschen, Board President Mr. Larry Evans, Board Vice President Mr. Roger Donohoe, Board Member Mr. Richard Ellis, Board Member Mr. Ryan Hessenthaler, Board Member Ms. Laura Houston, Board Member Mr. Bill Wallace, Board Member Excused: Staff Participated via Video Conference: Mr. Dan Andersen, Executive Director Mr. Bruce Cundick, Chief Investment Officer Mr. Mark Cain, Deputy Executive Director Mr. Rob Dolphin, Chief Financial Officer Ms. Jayne Knecht, HR Director Mr. Dee Larsen, General Counsel Mr. Chet Loftis, PEHP Director Ms. LuAnn Miskin, Executive Assistant Mr. Jason Morrow, Deputy Chief Investment Officer Guests Participated via Video Conference: Mr. Michael Kennedy, Korn Ferry Call to Order President David Damschen called the meeting to order at 3:02 p.m. and welcomed Board members and staff. Approval of Minutes ACTION: Mr. Bill Wallace moved, seconded by Mr. Roger Donohoe, to approve the minutes of the March 11, 2021, Administrative Board Meeting. The motion passed unanimously, 7-0. ACTION: Mr. Ryan Hessenthaler moved, seconded by Ms. Laura Houston, to approve the minutes of the March 18, 2021, Investment Board Meeting. The motion passed unanimously, 7-0. FTE Requests Mr. Dan Andersen discussed the rationale and business need for one new Senior Portfolio Manager FTE for the Investments Department and one new Business Analyst FTE for the Defined Contribution Savings Plans Department. ACTION: Mr. Ryan Hessenthaler moved, seconded by Mr. Richard Ellis, to approve one new Senior Portfolio Manager for the Investments Department and one new Business Analyst FTE for the Defined Contribution Savings Plans Department and the associated budget increases. The motion passed unanimously, 7-0. July PEHP Renewals Mr. Chet Loftis reviewed the July PEHP Renewals, effective July 1, 2021. ACTION: Mr. Roger Donohoe moved, seconded by Mr. Larry Evans, to approve the PEHP Renewals, effective July 1, 2021, as follows, with the understanding that the LGRP July Medical final aggregate rate may be different due to agency migration or rate adjustments arising from the renewal process: State of Utah Medical/Rx 4.5% increase State of Utah Dental 0.00% rate hold Salt Lake City Medical/Rx 3.5% increase Salt Lake City Dental 0.00% rate hold LGRP July Medical 4.9% increase LGRP July Dental 0.5% increase The motion passed unanimously, 7-0. Board Resolution 2021-01 Required Minimum Distributions and Locating Payees Mr. Dee Larsen reviewed Board Resolution 2021-01 Required Minimum Distributions and Locating Payees. ACTION: Ms. Laura Houston moved, seconded by Mr. Bill Wallace, to approve Board Resolution 2021-01 Required Minimum Distributions and Locating Payees. The motion passed unanimously, 7-0. Executive Session At 3:23 p.m., Mr. Ryan Hessenthaler moved, seconded by Mr. Roger Donohoe, to move into Executive Session to discuss fiduciary matters. The motion passed unanimously, 7-0. The following were present: Board Members present Mr. Dan Andersen Ms. Jayne Knecht Mr. Michael Kennedy At 5:08 p.m., Ms. Laura Houston moved, seconded by Mr. Bill Wallace, to move back into Open Session. The motion passed unanimously, 7-0. Adjournment Mr. Richard Ellis moved, seconded by Mr. Ryan Hessenthaler, to adjourn the meeting. The motion passed unanimously, 7-0. The meeting adjourned at 5:08 p.m. __________________________________ David C. Damschen, 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 LuAnn Miskin 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

Meeting Information

Meeting Location

Virtual Meeting
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

May 17, 2021 12:03 PM

Notice Last Edited On

May 17, 2021 12:03 PM

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