tv Retirement Board SFGTV August 31, 2024 4:00pm-5:31pm PDT
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heldfond you meeting >> presint thomas. p >> driscoll. >> bridg anwal!nt i'll let rns went are available by turn down your computer. prohibit others during public meetings mo7think the jurisdiction of you for >> thank you. next >> em mb thblic mited to two minutes. c mment? on this item? seeing none, ve any callare no >> thank hearg mment is now closed. >> next item please.item action item mivg(fjuly t minutes of 1 er!. and we'll call for public nk you do we any f in-person public co >> madam secrin the queue.
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>> okay. 's been , all those in >> >>e next item, but first of .v is--commissioner, you're here, i okay. to all the cor vit ucsiness d i okay. les calacth u ave- >> the travel request d meeting dahe ayi just plan >> thank0>li >> do we ng >> madam secretary, there oseds.avor? $os on >> catiremee . comma standardis em so rmrt d apprg&ov straightforward but happy es you may all the luck a . commissioneris an action item. and a >> that >> thamw you.icom >> do we in-person , moderator are on the line?are no
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callerg no en closed. >> okay, it's been mod and in favor say >> aye.sed sanay.item number , chief executive offi it over to waed to highli coupof items, t calendar that appears in mpjune of 202n wo various committee a@committee we're in the s s for there be mmittee dates as well . it r to karen, i'm aware rsd with r r e ballot in november. there ver b3?m >> having this, was asní erttg, ha ngthwe were given.df we epping up do what we do. and !evh unde s le of want today po our online webinars of time have asked if we d rehave them online.we
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posting them.re em hohanext quarte whether we get af hours. notipñujmohigh, intensive retirement time mean stafdu ofthyear because ely busy, we ge you can in june ocse262 benefits.r than ake any qtime bbefore the actual we go >> for the b nazer?don't know the answer to beem, they be most well atto do anytime.6b formatinar we(t changing.soere for a long of time le lryib >> doit. >> ofn hey i cafigure out t
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d hank you. omments, call for public comment. 3canhis item? seeing any callers to please paske star-3 to 1the >> madam secretaralr >> thank item usof securifor scal year, ending june 30, 2024.:sf3 >> we'll provide a g yecumarket8 we work team knbulk wealso r joining us, fl!uightleabout industhe elhighlights designed to tawill or we about we design flexible so if we have ll themhe prpotential source of liquidity. so i want with that i'll turn it over to ella and mike >> by covering why what the program ismike market trends over the year and
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an lending a lending lows tru/ thisr representative on the far m we have part these parties xulends the securities 46for the for a nze.á$ cash al in vative with guidelines mi melon performs two roles in this process. nd also the collatsoal pool but ateral pool. that impact to is this metric util thte restg ke volatility the regulatory environmbqtermof potential riskses, the next page but risk that the efauin the timely that borrowing of the securitixtttom.to the tment pool.as1h/usets are with any investrisk of loss.at's g lie 5. toll adess the s sk lleral t managed condaccoconservative y market fund. includ lendthin our proxies.2qadonditi
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cash release credit facilities.the lreinvestment account additional used year 2024. now page i will ntioned or ifew . buzz when we look back t&into the wide there were few major drthe other ronment.alo mentioned, a number of the credinreen le of years, a the pandemic erg, we urse so rves to do e e last fiscal ymber lendar year-end, a wall shore up and what den the spsh collatera got into 2024 market pa atat t r.on tam pg and available rse ofaround the globe, most ve beena for in our sody would curities because of that was not much so demand beend we li vehicles is one. phenomenal as that happens, it continues in names.see it in certain pockets, ich is gr the lemi thd at specifically, you large are participantto borrow those
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and the capability that][we ers we to of set mix, that was a driver just generally. so those i'll take v%over to alo.nkbilldemand and ut24 lybetween inco t about ithasse moving to 8, here we ósee over ye earnings but in line stwith expected rdrill into ht decline of 20 years and in #nparticular a dip rallying rmarket market 6ea=(ks down the program by quarter.zkwe break down v:t claue returnslending ou our treasury had had l"lower utilization btes to be lr.we hly trend and as mike mentionesee th a pof was on page 13, we provid a review up the 1.6
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june of i0ld 1.7 bi it was evenly split pool is six above moving to page the collateral review. thioyielding a ils credit ile are listed on this page.yield reinvestment is earning, while base rates moved a little on the reinasof tighter spreads. that concludes the i will mike r+91 to discuss updates from melon.regulatory environment is a big iver of bucreating opportunities and forcing us to er+ the nd the world.been so a major ve to se whsell complicates things.kz so we undertook a gy, rglink* make us better s thatrely do çf back. of those s thso innding ato 6.0q m im lathink that really st mentio another thr mandatory an is propvernment
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the things 9c already have l the rdhathe allow us there are a tools for lenders to with the transition. 's major was coming and prepared for 7q as well. and has been ready for this chan a third majoone layed again l@ indefinitely, but it is a !ru coming ket.essentially do is put the obligation bny to report a related to trading efincrease market transparency. so this is something that we're to do with no impact z÷of the ad going on. i'm happy to answer the questions that any vi boar why rities &]the r program cl driver we disces, then been able to rmnumber gs tha investment staff and things t. that's he bottom page four,
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chin the portfolio byk asasked irun the progra many ag about [ beca piece?have the big buffer there.taketab. over but i'm surprised, it they don'by the assets á# that;> we're asis more because we're intoplace and then there depending on the, it's we're taki the we're looking at, we'll start 7, 110, 112, things like that.thwant today know.collateralization would be? >> what acr sfers, it'ssterling ted, rt and this is not fkeleverage, they're very well understood government bondsmostwo anhigh grade co so what number nueyoure afr >> okay.onllowing a lot is the e
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they focusing pers or are they help sh >> absolutely.ou m[yeahb, we've been having a , it's ing that ink itbut we wanted to make sure that ouwant to make sure market, they're feand the risk.not just an &- requirements rules seem ch!anged.transparency and giving re " we think that's the rules ended up. changing, that, experience in the ers pryour al >> no. and borrows from each ishas a ne outside and that'a the bank of e owfr the program. they're t , no, we ve not >> and d the annual frequent 's credit prse so at is ntly concerned wou aythe sftherst institutionathghb itmpta sure that thon sheet that pursoa u1 great program.cy and the team othe your b >> public comment.
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>>have any in-heing none, moderator are any callers? >> madam secretary,s onyoicay, befothe #wn6mtem let's do item call theitem is ent i >> commissi of are currently updated and reviewed e at you see be todathe securities litigation policy and in polid 3mred a red existing poli liroval on. theses are dated, rst upred thnot chinto ul that yçfor the record.s e in these two polibe consistent with our arcular on the wanted clarify role of city securities evaluation operating we are also makinga change to r ui from 5 @onable mit money and by lowering we to move forward.sed on op ithen really there, the es, the fact ha"-delegation. go th rns that is goes bethth and who we and al don't expertise id monitoring the portfoo commenpropriatepa counsel. and bring s to the thatof,
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securities not monitoring and th >> okay, you answered any question. commen got one.sure, understood her wiattorney willa ÷s beyond this issue, a lot but i got wh tmotion toand placement a>> stll a second. >> second. red line version. thank you.oumment, please.ve any in-ponitem? seeing none moderator, are there >> madam secretary, there >> thaent is now closed.nted to ectracy driscoll's comment mol in favor say ay >> aye.. can we bare with go something and #] let's take, take 15 minutes,cc3j"jq
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>> ra millioto tecogy part itte on ju 31, 2024. this is a six ununder delegated authority we inste7 opity fund. the investment closed credit iewithin itnot mateit just closedto upme 2024. session an investment of to 75 thfund july fowhat i for thre >> thank you. aff en that having the #s director or and i for their effort i to omments.say that i'm surprised accos co impress me every time deal r ns and go how is meput in evthathave to do. while i'm proud, i'm not >> any further comments or questions?ևv@ment. >> ank have any in-p this item? its as a agency,
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it's importt for e whthere is everybody o9 i think it's t to acknowledge because thbat'swa doing gswe do doing things thank you. commiyou for your comment. dopu to have any >> madam sellers on the line.hearing no callers, public cot ank you, 6vcompensation plan arterly planned revicome bearing gifts. afte commising here. today whprovide details ill wn and includes . eased its er.pg stable considered r icle tive investable with the plan that expired june of is a search pr nt actually has been provided the memo before you.to see i'm please x5[ i'm plead e to say that schedule and ting meeting also date that's been included in your reference st and king of markets, i've asintoperformance as well market. whichthe en tha >> meing but inofa s to tell.the , performing and i'm looking at year
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e the co12 basis points.sethird quarter, the bond market has bounced back in the changes and stock market. and largely i'll fi funds.d and almost percent for nd so pause e >> any questions?if pillar, launching a x mail campaign.to page ins where we setail methocluded the five separate cohorts. this was received in early a follow-up email was details can be ç( 1i8ekand workin the ights healthcare cost and as the ng probability care sunce be not how sts are also higher you before medicara that augua
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in activity repleased a>to announce retirement security month will be be th the rise a,we dths.havee,q6to page 6, you can see a the plan will be featured s[are held board members have been ed a that may choose from al main library 16th at noon. so we look pects therestions ane ar front, on julyweeks the al proposed rehandbeneficiary you can be a inher intate. there is a new prio they're lowering wn could be reduce today vif corrective actions are the dsfbp are work align sxz t required the repartic rtpaimplement ts for jais includes theup where if you're between and 63 yoamount verse g
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so these change of údprogramming so e"that we're people don't get stucis questions on operations, i can move 1is thto bishis from cofrd keeper.been keeper 2015, month option contract by one year to voya's comprehen service ve continue king our t us. ed particite dashboard on final toenhae the those improvement nen nce.as the h de mr. bucking, would you like to? ythank of y a22! just, as x-to the last four quarters, i would lihithgh growththe numbers have increased again.arr. assets, like wise grow hewho he plan. significanlast point 2 percent. look ow, icipants, have resultedv7 4and
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if we skip forward justwant regard activitywere we have averages, at 21 that's due to some ha resolv resulted ti f comment with regard to counsel bit whole team but as fanumbers perspective, we're ahead of our goals and reach half th us one, usterviews. >> semifinalist. >> thank you, i to g2pu i on voya? >> the, the the contract me, discuss itqns, very an >> they re póve thoustaff so. line? tary, there are he queue. >> thyou,ic now closed. >> next ite >> item retirement boar good of the order.was looking thugh, i think i e area?v8
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in ti eit in the agenda.-sdidn't we'll .25th, i know stafa lot of work.ing is going ahead very well.hope0 percent attendance.j) rther of the order. >> tion to adjourn then. get public comment.nyt on this item? >> madam secretary, there >> thank you, public comment is now closed.>> item >> thank you.e.shéx%0qv culture in idu like carlton b goodlett a manhe nic lashed us not a s far fro san franciscout off road in child city for staff'sns difft pla dr. good let was aroundnd would seetsaw fillmore minority people
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healthcare t tha an an to working hard hallmz,o andnd protest thnjust) dr.d activity and discriminations against public andsing and into the don't who was alsobl ayer. is own dr. good and puto petitionsndworked official day of the in allay mch for in aske thstreet sign okay. >> in999 right building bde at that moment still coldhut down t that read putp the one, dr. cwhite. >> i think that a just a individual.nately enough here to he c,p>>
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s artist nevergotten into about openinford it a r[indiscernible] this was a for us to in here. the iage between a conventional agency. i'm victthe ency. thes ogespecially importanextended expertise fromat ound thvi it isalwed smalacessinesses to pop uphave previousf=or out of budget. vibrant wae funded our new deal ged the e ible] óvhave been us down heand 8w credible.the kind that vacancy to talking the amof l ndiscernible] is about because it has given me topast few years,to have a space i can call my own of time has been,
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th animals. the big picture so many animals wo lost. >> vo understand what w hard the staff wos taking lp[6 just wnstairs and is total, starts off doing chemclose thes then #cinglc c wit anvidf enrichmentgish re we ann frsco sure are prmmunited and are cared domest serve als have go, here they about 9,000 animals a the ability to move stic on to an homes somewhere else, or if you rqcome here and fi wildlife that is the shelteanimal control of 6 >> ask them to give that would be er k you so >> for aslo s, we investigate here. ermo a lot more g. who would people call? iu4. police? knowe. much ho 00 animals go? i th if we the street (indiscernible) le soanimals are very
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