Lackawanna County Pension Board 9 16 26

Lackawanna County Pension Board meeting, October 22, 2026: The board approved the minutes and received the Q2 2026 investment performance report. The investment adviser, CS McKee, reported that the portfolio’s market value had grown from about $244 million at the start of 2025 to $268 million at the end of June 2026, and that it was up 9.64% through the day before the meeting. Discussion covered inflation and interest-rate risks, portfolio positioning, and changes including a shift to dedicated large-cap value and growth segments and a small-cap strategy using individual stocks. The board voted to accept the report as presented.

The adviser also raised the annual review of existing directed-brokerage arrangements, under which 50% of trades go through Wells Fargo and 50% through RBC, and asked whether the board wished to continue them or use best execution. No decision was made, as not all board members were present; the adviser was asked to send the information by email. No new contract award, procurement, or spending approval was identified. Members also discussed scheduling the next meeting.