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October 5, 2021Finance Committee Minutes <br />CalPERS Update - Presentation Slides <br />CalPERS Announcement Regarding Fiscal Year 2021 Investment <br />Return and Discount Rate Reduction <br />Funding Risk Mitigation Policy <br />Attachments: <br />Finance Director Hsieh introduced Eddie (WingCheong) Lee, Senior Pension Actuary <br />of CalPERS. <br />Eddie Lee provided a brief introduction about his professional background and <br />presented a PowerPoint regarding the following: <br /> - CalPERS Fiscal Year 2021 Investment Return and <br /> - The anticipated reduction in discount rate; how the Investment Return and the <br />anticipated reduction would affect the changes regarding City of San Leandro's <br />Pension Plans. <br /> - An overview of the excess liability management process, currently on a 4 year cycle. <br />This helps CalPERS determine if adjustments need to be made to the discount rate. <br />An analysis is currently being completed and will be provided later this year to the <br />Counsel Members. <br />Committee Feedback: <br />Mayor Cutter, Council Members Ballew and Lopez asked questions and made <br />comments regarding funding strategies, investment returns and possibility of giving the <br />presentation to the City Counsel. Committee members provide positive feedback <br />regarding the presentation they viewed. Future projections were discussed. <br />Future Agenda Items2.B. <br />1. Update Regarding Budget Task Force Recommendations <br />2. Q3 2021 Pension and Other Post-Employment Benefits (OPEB) Investment Report <br />Finance Director Hsieh presented the next meeting topics. <br />PUBLIC COMMENTS3. <br />One comment received via eComments. Comment was made regarding Blossom Way <br />neighborhood. Comment determined to be made for Engineering and Transportation, <br />not Finance. <br />COMMITTEE MEMBER COMMENTS4. <br />Counsel Member Ballew expressed positive feedback about changes made. <br />No other Committee member comments. <br />ADJOURN5. <br />Meeting adjourned at 4:46 P.M. <br />MEETING ACCESSIBILITY6. <br />Page 2City of San Leandro <br />83