City Employees' Pension Fund Board Meeting (July 29, 2025)

The City Employees' Pension Fund Board meeting held on July 29, 2025, focused primarily on pension fund management and benefit adjustments. The board approved the minutes from the May 6 meeting and reviewed fourth quarter expenses without opposition. A key procurement-related decision was the approval of a 3% increase in benefits for retirees and beneficiaries, consistent with prior years, effective January 1, 2026, pending council approval. The meeting also included a detailed investment performance review presented by PFM Asset Management representatives, covering portfolio allocations, market conditions, and manager performance. The board discussed portfolio adjustments such as a slight underweight to equities and overweight to fixed income to manage market volatility and tariff impacts. No new contracts or procurement actions were reported, but the investment strategy and benefit increase decisions have budgetary implications for future pension fund expenditures.