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

March 20, 2025 01:00 PM

Description/Agenda

MINUTES OF THE UTAH STATE RETIREMENT BOARD ADMINISTRATIVE BOARD MEETING March 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: Mr. Karl Wilson, Board President Ms. Aaryn Birchell, Board Member Mr. Richard Ellis, Board Member Mr. Marlo Oaks, Board Member Ms. Laura Warnock, Board Member Board Members Attending Virtually: Mr. Larry Evans, Board Member Excused: Ms. Christie Behunin, Board Vice President Staff Attending In-Person: Mr. Dan Andersen, Executive Director 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 Mr. Joel Sheppard, Marketing Director Mr. Lance Toms, Operations Management Director Staff Attending Virtually: Mr. Dave Bjarnason, Chief Compliance Officer - Investments Mr. Kory Cox, Director of Legislative and Government Affairs Call to Order President Karl Wilson called the meeting to order at 1:02 p.m. and welcomed Board members and staff. Approval of Minutes ACTION: Mr. Marlo Oaks moved, seconded by Ms. Aaryn Birchell, to approve the minutes of the February 20, 2025, Administrative Board Meeting. The motion passed unanimously, 4-0. Mr. Larry Evans & Ms. Laura Warnock were absent for this vote. ACTION: Mr. Richard Ellis moved, seconded by Mr. Marlo Oaks, to approve the minutes of the February 20, 2025, Investment Board Meeting. The motion passed unanimously, 4-0. Mr. Larry Evans and Ms. Laura Warnock were absent for this vote. FTE Requests Mr. Dan Andersen discussed the rationale and business need for the new FTE requests. ACTION: Mr. Marlo Oaks moved, seconded by Ms. Aaryn Birchell, to approve the following new FTEs and the associated budget increase: - URS - Customer Service Specialist I - Savings Plans - URS - Plans Analyst - DC The motion passed unanimously, 5-0. Mr. Larry Evans was absent for this vote. 2025-2026 Final Contribution Rates Approval Mr. Dan Andersen reviewed the 2025-2026 Contribution Rates for final approval by the Board. He noted that there was no legislation passed in the 2025 legislative general session that affects the preliminary 2025-2026 Contribution Rates that were approved by the Board on August 15, 2024. ACTION: Mr. Richard Ellis moved, seconded by Ms. Aaryn Birchell, to give final approval of the Contribution Rates for 2025-2026 fiscal year as presented in the Board Meeting materials. The motion passed unanimously, 6-0. Review of Legislative Session - URS Mr. Dee Larsen gave a review of the 2025 legislative session. A list of '2025 General Session: Summary of Selected URS-Related Bills' was provided in the Board Meeting materials. Review of Legislative Session - PEHP Mr. Chet Loftis gave a review of the 2025 legislative session regarding legislation relating to PEHP. PEHP Report Mr. Chet Loftis gave a report on PEHP, including the following items: - Transition - Next Phase - July Transition - State Transition - HealthTrio - Objectives - Biggest Concerns - Final Thoughts - Business Front - Clinical Transition - Key Initiatives - To Sum Adjournment Mr. Richard Ellis moved, seconded by Ms. Laura Warnock, to adjourn the meeting. The motion passed unanimously, 6-0. The meeting adjourned at 2:43 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

April 18, 2025 09:26 AM

Notice Last Edited On

April 18, 2025 09:26 AM

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