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 Tags

Retirement

Notice Type(s)

Meeting

Event Start Date & Time

February 20, 2025 01:00 PM

Description/Agenda

MINUTES OF THE UTAH STATE RETIREMENT BOARD ADMINISTRATIVE BOARD MEETING February 20, 2025, 1:00 p.m. 540 Board Room, Retirement Office 540 East 200 South, Salt Lake City, Utah Hybrid Meeting Board Members Attending In-Person: Ms. Christie Behunin, Board Vice President Mr. Larry Evans, Board Member Board Members Attending Virtually: Mr. Karl Wilson, Board President Ms. Aaryn Birchell, Board Member Mr. Marlo Oaks, Board Member Ms. Laura Warnock, Board Member Excused: Mr. Richard Ellis, Board Member Staff Attending In-Person: Mr. Dan Andersen, Executive Director Mr. Mark Cain, Deputy Executive Director Mr. Kory Cox, Director of Legislative & Government Affairs Mr. Rob Dolphin, Chief Financial Officer Mr. Kendall Rima, Chief Information Officer Ms. Stacie Petersen, Executive Assistant Mr. Darron Schryver, Chief Information Security Officer Staff Attending Virtually: Mr. Dee Larsen, General Counsel Guests Attending Virtually: Mr. Ryan Donahue, Eide Bailly LLP Call to Order President Karl Wilson called the meeting to order at 1:05 p.m. and welcomed Board members and staff. Approval of Minutes ACTION: Ms. Christie Behunin moved, seconded by Ms. Laura Warnock, to approve the minutes of the January 16, 2025, Administrative Board Meeting. The motion passed unanimously, 5-0. Mr. Larry Evans was absent for this vote. ACTION: Ms. Aaryn Birchell moved, seconded by Ms. Christie Behunin, to approve the minutes of the January 16, 2025, Investment Board Meeting. The motion passed unanimously, 6-0. Legislative Update Mr. Dee Larsen and Mr. Kory Cox gave an update of the 2025 legislative session, which began on January 21, 2025. A list of '2025 General Session: Summary of Selected URS-Related Bills' was reviewed and discussed (provided in Board Meeting materials). Budget Review Mr. Rob Dolphin reviewed the mid-year budget for FY2025, including the following items: - Momentum, Discipline, and Execution in FY2025 - Mid-Year Budget Comparison FY24 v. FY25 - Projected Expenditures 24-25 Year - 2025 FTEs Budgeted Combined URS/PEHP - Historical and Projected Admin Expenditures by Division - HealthEdge Budget and Expenses - Overall AUREUS Budget and Projected Expenses - URS/PEHP Capital Budgets - Building Operations - Final Takeaways At 1:43 p.m., Mr. Larry Evans moved, seconded by Ms. Laura Warnock, to move into closed session to discuss confidential audit and cybersecurity information. The motion passed unanimously, 6-0. At 2:25 p.m., Mr. Marlo Oaks moved, seconded by Ms. Christie Behunin, to move back into Open Session. The motion passed unanimously, 6-0. Final Motions/Other Business Mr. Karl Wilson thanked Mr. Mark Cain for his wonderful work with the Board and URS. Mr. Cain will be leaving URS to be the Executive Director at my529. Mr. Cain expressed his appreciation to the Board and the employees of URS/PEHP. Mr. Dan Andersen announced to the Board that Mr. Kendall Rima will assume the role as the Managing Director of Retirement (title change). Adjournment Ms. Laura Warnock moved, seconded by Ms. Aaryn Birchell, to adjourn the meeting. The motion passed unanimously, 6-0. The meeting adjourned at 2:26 p.m. ________________________________________ Karl W. Wilson, 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

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

March 21, 2025 04:08 PM

Notice Last Edited On

March 21, 2025 04:08 PM

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