Board of Investment Commissioners Thursday June 25th 2026

The meeting is called to order and a roll call is conducted to establish a quorum. Present members include Mayor Smiley, Vice Chairwoman Silverio, and the City Treasurer, while Councilman Ryan is noted as absent.

Representatives from Segal provide a detailed report on the investment performance of the Employee Retirement System, noting strong returns in May driven by public equities. The discussion covers market volatility, the impact of technology stocks, and a year-to-date return of 7.1%.

The board reviews the investment performance of various trust funds, which are performing well and exceeding long-term objectives. A motion to approve the performance report for Item 2 is made and passed unanimously.

The board addresses a carryforward item regarding potential portfolio rebalancing but determines no action is required at this time. A motion to continue the item to the next meeting's agenda is approved.

The board reviews and approves drawdown requests from the Parks Department for several dedicated trust funds, including the Eli and Charles Smith funds. Following a roll call vote, the board confirms the distributions are consistent with the intent of the trusts.

Vice Chairwoman Silverio presents the monthly cash flow report detailing city contributions and outflows for the retirement system. The board votes to formally enter the report into the record, noting that the city is meeting its contribution goals.

With no further business to discuss, a motion to adjourn the meeting is made and seconded. The motion passes unanimously, and the meeting is officially concluded.