Conversation that is going on right now. But were definitely monitoring that and well try and plug into that process when the opportunity presents itself. President tsen okay. Thank you. Okay. So the next item, please. Its adjourned. President tsen all right. Thank you. Director richardson before we adjourn. Yes. Director richardson i have two statements to make. Just to acknowledge mr. Jim smith for helping us out through the technical glitches today. And i would love to with your permission to adjourn this meeting in the memory of the late congressman john lewis and it was put eloquently, some thoughtful recognition of this great man. And we are all in gratitude to mr. John lewis for his life long fight in systemic racism and injustice. So he was a leader by all measures. And may his soul rest in peace. And thank you. President tsen thank you very much. With that, well adjourn. Thank you, all, for a great meeting. Thank you. [roll call] we have a quorum. You may begin the meeting. Th
Commissioner bridges has indicated she is on her way. Commissioner driscoll. Commissioner makras will not be present. Commissioner meiberger is out of the country. Commissioner paskin jordan. Present mpt commissioner stansbury item 3 general Public Comment. Thank you. Speak into the m ic. Sorry i couldnt help myself, you always say it, i had to say it to you. [inaudible] good afternoon commissioners. Im patrick [inaudible]. Executive director hish to hand a verbatim transscript of last months meeting. [inaudible] i testified july 8, [inaudible] should table the [inaudible] investment. Mrs. [inaudible] noted the proposal doesnt meet guidelines. Commissioner driscoll asked whether it involves a prohibited [inaudible] commissioner stansbury asked [inaudible] regarding ers investment staff and whether they have experience with asset back liability securitization. Loan obligations and a finding Credit Ratings to individual securities noting they go hand in hend hand with a potential [inaudi
Maturing over the years currently about 60 percent of liability is attributable to members who are currently receiving benefits an increase from 50 percent a part of the maturation of the funds and now over one active member for each retiree and that used to be closer to one. 7 that medians youve got a smaller active base to support of overall fund were showing some different breaks down of the contribution rates the first section is the basic contributions rate weve circulated this is before the adjustments to employee contribution rates so weve calibrated this as 82 percent here and the adjustments and we those juchlts are varied by employee and we say estimate the aggregate the employer contribution rates to be 19. 2 percent of pay and the employee contribution rate 11 point one percent thats a decrease of 4 percent of pay for the employer and the employees stated in the same range their rate is about the same bottom we show the praekd of that same contribution rate between the norm
And other kinds of animal im hoping at some point roach the case by case and oppose all animal testing in regards to this think of our own pets and think if you want them to the ginny pigs and come up with a different view thank you. Ill appreciate that if you change that thanks. Seeing none, ill close the speaks on page 167 under the reluctant can you walk me through why we support confidential voting i presume as opposed to an open vote so we can better cast all our votes on other issues. This particular issue is generally dealing with confidential voting that have been submitted by institutions to companies and making sure that that information is confidential it is actually, the proposal we generally see we havent seen this proposal for a number of years now its been a few years since this type of proposal has been on the ballot of proxy companies. Not towards votes in the board room. No only Institutional Investors and a as and present their votes to the company. All in favor, say
Might be considered a xeefrt but given the size of the Platform Investments they pull into this fund and stay difference if i did they dont have try xheefrts. I was going to mention star wood but identifiable the strength strategy is very different there. Id like add one more brookfield their funded for the project sponsor. But globally. Yes. Thats it. Any other questions. Nope. Well be open to another motion. Ill make the motion. Second. Well open up for Public Comment on item 7 seeing none, all in favor, say i. I. Passes unanimously thank you very much item number 8 please. Thank you norm commissioners just a couple of quick notes one our missing a page from the printed report which you should have received by handouts that was a double sided report the last page didnt print. So did we get 50 percent of it. Thats sound right. A couple of quick things on the first page the investment vurnz is were floating around zero negative 0. 3 percent so far year to date so the return on the mark