this is fred sanchez. i'm the president of protect our benefits. unfortunately, i had computer issues, so the first item i got to hear today was item number 9. i'm confident that all the items before were handled as professionally as well done as the presentation by mitchell and carrie. i'll take the opportunity to say i'm impressed with all the staff at the health service system. i'd like to take the chance to welcome supervisor chan, who, unfortunately, i haven't had the privilege of meeting yet, but i'm sure i will soon. you've got a great group of commissioners and trustees who really understand their fiduciary responsibilities to their membership. you have a wonderful organization, director yant has been very responsive whenever we've had communications or request from members who represents the 35,000 retired city workers. i have nothing but great praise for the retirement system. that's all i have to say. and because i had all these problems with my computer, this is going to be the only thing i'm going to comment, because i'm confident the

this is fred sanchez, president of apgar benefits. before i speak on this, i would like to actually probably hear more about it from the experts as far as the terms of reference. if this is simply providing flexibility that it's not committing them to putting the positions together or keeping them the way they are now, i think i need to hear more from the experts. that's all i want to say. >> secretary: thank you for your call. moderator, any other callers on the line? >> madame secretary, there is no more callers on the line. >> secretary: thank you. hearing no calls, public comment is now closed. president? >> president casciato: thank you very much. board members, any comments? jay, you have other comments? hearing no comments, any action? >> the terms of reference to the executive director to include the chief investment officer, chief executive officer position. >> if that was a motion, i will second it. >> president casciato: it's been moved and seconded to adopt staff recommendations, is that correct? >> yes. >> president casci

this is fred sanchez, president of apgar benefits.s, i would like to actually probably hear more about it from the experts as far as the terms of reference. if this is simply providing flexibility that it's not committing them to putting the positions together or keeping them the way they are now, i think i need to hear more from the experts. that's all i want to say. >> secretary: thank you for your call. moderator, any other callers on the line? >> madame secretary, there is no more callers on the line. >> secretary: thank you. hearing no calls, public comment is now closed. president? >> president casciato: thank you very much. board members, any comments? jay, you have other comments? hearing no comments, any action? >> the terms of reference to the executive director to include the chief investment officer, chief executive officer position. >> if that was a motion, i will second it. >> president casciato: it's been moved and seconded to adopt staff recommendations, is that correct? >> yes. >> president casciato: any discussion? >