I_PensionRevewSubComm_2024A 07/26/2024 09:05:09 AM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGINTERIM COMMITTEE PENSION REVIEW SUBCOMMITTEE Date 07/26/2024 Attendance Diane Doney X Marty Gutierrez E Liston E Jim Mantele X Tina Mueh X Trey Rogers E Patrick Roybal X Joshua Sharf X Lang Sias * Jack Tate X Wilson X Earl Wright X Hamrick X Kolker X Time 09:05:09 AM to 11:40:28 AM Place Old State Library This Meeting was called to order by Kolker This Report was prepared by Matthew Becker Hearing Items Action Taken hOpening Comments Committee Discussion Only hPERA Annual Presentation and Response to Independent Review Committee Discussion Only hOther Business Committee Discussion Only Opening Comments - Committee Discussion Only 09:07:58 AM Senator Kolker provided opening comments. PERA Annual Presentation and Response to Independent Review - Committee Discussion Only Attachment Tag File Name Attachment A http://www2.leg.state.co.us/CLICS/CLICS2024A/commsumm.nsf/0/10350499FE4B...$File/Attachment A.pdf?OpenElement Attachment A.pdf 09:08:23 AM Mr. Andrew Roth, Chief Executive Officer/Executive Director of Colorado PERA, Ms. Amy C. McGarrity, Chief Investment Officer/Chief Operating Officer of Colorado PERA, Mr. Michael Steppat, Public & Government Affairs Manager for Colorado PERA, and Brad Ramirez, Vice President and Consulting Actuary for Segal, presented to the committee (Attachment A). 09:26:11 AM Mr. Roth, Ms. McGarrity, and Mr. Steppat responded to questions from the committee. 10:11:15 AM Mr. Ramirez responded to committee questions and presented a response to the PNYX report presented at the July 19, 2024, subcommittee meeting. 10:30:05 AM Mr. Ramirez and Ms. McGarrity continued to respond to committee questions about PERA's response to the PNYX report. 10:52:29 AM Mr. Ramirez responded to committee questions about risk assumptions used to model PERA's financial situation. 10:53:58 AM Ethan Kra responded to questions about the actuarial assumptions used in the PNYX report. 10:58:24 AM Mr. Steppat and Mr. Ramirez continued to respond to committee questions about modeling assumptions. 11:08:53 AM Ms. McGarrity and Mr. Roth responded to committee questions about how PERA compares itself to other state pension systems. 11:16:39 AM Mr. Ramirez discussed results from a recent Signal Light Report conducted by Segal and responded to committee questions. Other Business - Committee Discussion Only 11:40:04 AM Senator Kolker discussed next week's meeting. 11:40:28 AM The committee adjourned.