Retirement Trust Board 9/16/2026

The City of El Paso Employees Retirement Trust held a regular board meeting on September 16, 2026. The board received investment reports from Wellington Management and Kalen LLC. Kalen reported that Connor, Clark & Lunn had been selected as a new manager for the international equity portfolio and presented a related asset-rebalancing plan. The board approved the plan, authorizing the chair or executive director to sign related documents and transition assets; staff said approximately $11 million would support benefit payments and expenses, with the remaining transition dependent on finalizing contract documents. The board also approved amendments to the Investment Policy Statement reflecting the updated asset-class structure.

The board approved the assignment of the actuarial services relationship from Gallagher Benefits Services to Foster & Foster following Foster & Foster’s acquisition of Gallagher. It also approved amendments to the executive director job description and, after executive session, an amendment to the executive director/legal adviser’s contract with a corresponding budget modification; no dollar amount for that budget change was stated. The executive director reported that the annual audit was underway with Baker Tilly and that the actuarial evaluation was ongoing. No other specific contract award or procurement amount was identified.