SEP 17, 2026 | Federated City Employees' Retirement Plan Board

The City of San Jose's Federated City Employees' Retirement Plan Board held a meeting on September 17, 2026, focusing extensively on investment management, governance, and operational updates. Key procurement-related discussions included approval of a new strategic asset allocation (Sample D) effective November 1, 2026, which involved minor portfolio adjustments such as reducing emerging markets equity and increasing private market allocations. The board also approved a new simplified benchmark for the multisector bonds allocation, transitioning to the Bloomberg US Universal Bond Index, also effective November 1, 2026. Additionally, the board reviewed and approved annual investment fee reports detailing management and incentive fees, and discussed enhancements to investment manager monitoring processes. Personnel actions included merit increases for the CEO and CIO. The board also addressed governance matters such as voting thresholds when operating at quorum, committee membership appointments, and adoption of the City of San Jose's updated AI governance policy. Operational improvements were presented, including the modernization of the Member Direct self-service portal to allow retirees to update personal information online securely. No new contracts or vendor selections were reported, but several policy and procedural updates were approved that could influence future procurement and vendor engagement.