RETIREMENT COMMISSION MINUTES

The Retirement Commission met on Wednesday, October 28, 2020. The following members
were present: John Blair, Chris Cullinan, David Hughes, Jason Vandever, Scott Hendrix, Heather
Hill, Al Elias, Markell Henderson. Absent: Joe Hatter, Michele Vineyard. Others present: Brian
Wheeler, Sara Butler, Lisa Burch, Charlie Philippin, Krisy Hammill, David Plunkett, William
Dowd, William Reid, Dan Homan.

Call to Order
Jason Vandever called the meeting to order at 8:33 AM.

Approval of Minutes
The minutes from the September 2020 meeting were approved unanimously.

Annual Actuarial Review
Bill Dowd from SageView Consulting reviewed the July 1, 2020 Valuation Report and provided
the Commission with the next actuarially determined contribution rate. Dan Homan reviewed the
Post-Retirement Benefit Plan experience and provided the Commission with the next annual
contribution rate. The new rates will take effect in fiscal year 2022.

Other Updates
Lisa Burch provided an update on the process for replacing Mr. Swanson who resigned from the
Commission. It was also confirmed that the November meeting date has been changed to
November 18 at 8:30 am.

Sustainable Investing Update
Jason Vandever provided additional information from Dahab at request of the Commission at the
September meeting. The report included information about current investment advisors and their
approach to ESG investing. Also included was an alternative to the SSGA Enhanced Large Cap
Index. In addition, Jason presented a sample change to the current investment policy for the
Commission to discuss further at the November meeting.

Adjournment
The meeting adjourned at 10:00 AM.