RETIREMENT COMMISSION MINUTES

The Retirement Commission met on Wednesday, August 24, 2022. The following members
were present: Ashley Marshall, David Hughes, Jason Vandever, Al Elias, Ben Cullop, Chris
Cullinan, Brian Pinkston, Mary Ann Hardie, Markell Henderson, Scott Hendrix, Lindsay Ideson.
Absent: Michael Rogers. Others present: Sara Butler, Lisa Burch, Barry Schmidt, Fran Slacum.
This meeting was held virtually via Zoom.

Call to Order
Jason Vandever called the meeting to order at 8:31 AM.

Approval of Minutes
The minutes from the June 2022 meeting were approved unanimously.

Target Date Fund Presentation
Barry Schmitt and Fran Slacum from CapTrust presented information about the Defined
Contribution Plans’ Target Date funds. They explained the premise of Target Date funds,
compared the T. Rowe Price funds in the City’s plans with the target date funds of other fund
families, and answered questions from the Commission members.

Administrative Update
Lisa Burch informed the Commission that the October meeting will be held in the main
conference room at City Space on October 26. In addition, voluntary virtual training will be
offered to Commission members on November 2 with more definite content and schedule
information to be coming in October. Finally, the November and December meetings will be
combined. The new date will be determined in the next few weeks.

Financial Update
Jason Vandever gave a brief update regarding the June 30, 2022 financials for the Retirement
Fund.

New Business
There was no new business discussed.

Adjournment
The meeting adjourned at 9:19 AM.