[{"_1":2,"_99":-5,"_100":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6674748,"mediaKeyId","2346864-cf6d2c633901c3b5bc55c95d87039dbd","parentId",2346864,"title","ISERS board approves 2% cost‑of‑living adjustment for eligible retirees","audioSeconds",54,"startMs",5638000,"endMs",5692000,"viewUrl","/Search/View?dp=1&key=2346864-cf6d2c633901c3b5bc55c95d87039dbd&start=5638&end=5692","thumbnailUrl","https://assets.pipeline.soar.com/2346864-cf6d2c633901c3b5bc55c95d87039dbd/thumbnail_5638000.jpg","articleUrl","/articles/6674748/Imperial-County/California/ISERS-board-approves-2-costofliving-adjustment-for-eligible-retirees","mediaUrl","https://secure.pipeline.soar.com/6674748-b31fb724fde0139fa87a9bfba4d914b1/orig.mp4?Expires=1770674870&Signature=Uv1fcy6Ks~VrpD3EN9dBQIncYexCkt6PdVudZ9ZFkBIVudQSUoxfCcltN1pby~kKLS4TmHhPPVirEDdfShzwb6Xzp53xyKyyujOXcXSkzLzkusr96UU3sFYwmQD5MTP8Bs9kwAQLSHjXfEsTvfXmOTwEYZnXJXgUbPTKig4VDIYTplZVUuybQnr6gGi5Fa7xNKsI97weWECpDJiK~81IBkA-UqvedmnW7NaVmQPDtpLX3qCyvsXzTjx~Pqq72TMKnwwuCDKilsh9jxC3GpEndcsxjL89JZTK95Y1j40Jjd8FJ4g0CWRCIgN8qrBm3tQBrWEhlubACuuo1IKa1KDhvA__&Key-Pair-Id=KUT5TJCACFTXG","author","Imperial County","date","2025-02-19T00:00:00Z","article","The Imperial County Employees' Retirement System board voted Feb. 19 to approve a 2% cost‑of‑living adjustment for eligible retirees and to allow the plan to bank an additional 1% in accordance with the system’s COLA policy and the actuary's recommendation.

Staff presented a Siegel actuarial letter that analyzed recent Consumer Price Index data and concluded the system met the threshold for the current COLA formula. Staff recommended the board \"receive and file\" the actuary's letter and approve the adjustment for retirees with retirement dates before April 1, 2025.

Trustee Norma moved to adopt the Siegel recommendation; the motion was seconded by Trustee Patricia Nesadak and approved by voice vote. Staff said retirees affected by the change would be notified and that the administrative steps to implement the COLA would be scheduled.

Why it matters: a COLA affects retirement income for beneficiaries and appears in the plan's administrative and actuarial records. Staff noted the adjustment is based on the actuary’s interpretation of CPI results and the plan’s previously adopted COLA policy.","mediaType","Video","parentTitle","Imperial County - ICERS - Feb 19, 2025","oneSentenceSummary","Based on an actuarial letter from Siegel, the Imperial County Employees' Retirement System board approved a 2% COLA for retirees who retired before April 1, 2025, and authorized banking up to an additional 1% in accordance with policy rules.","taxTitle","Imperial County, California","taxId",3829,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6674752,"ISERS issues RFP for pension administration system; board names ad hoc selection committee",616,5750000,6366000,"/Search/View?dp=1&key=2346864-cf6d2c633901c3b5bc55c95d87039dbd&start=5750&end=6366","https://assets.pipeline.soar.com/2346864-cf6d2c633901c3b5bc55c95d87039dbd/thumbnail_5750000.jpg","/articles/6674752/Imperial-County/California/ISERS-issues-RFP-for-pension-administration-system-board-names-ad-hoc-selection-committee","https://secure.pipeline.soar.com/6674752-d7b01155d92f5137b8082fb597a01f68/orig.mp4?Expires=1770674870&Signature=GbBzhJHydPPLtjvzYNDsaEgRrLprELHBpzLngYttX68VAA1-OZTUD5Q0IF1yCDqOZe1mnfVGnWhU88D9GiTgXvmWcWFJBcskg2ZIPbeUxo~UK2Vlvg6VIO1a1QbJ8K8FcIQfsmERleZN-BEMOiOpPjWmRKvxLDwCCfz1TEUbEJ-NvOLtkcaMTeZnxQ8GxU3-8mIfaur0FnUN9we87FuCvWN1QpMmHU~5BBnh4vvJ6byuHEFfivY3JZskP-M0c1rkYDr~UomgrGGAkU74~ZlkypeW5UEGpCy6~uJoZKkVTenCuL3pRjStWYJXS5dqtLwocgqMkAAQZ8IVmE5VldzkfA__&Key-Pair-Id=KUT5TJCACFTXG","The Imperial County Employees' Retirement System board opened a formal procurement process for a new pension administration system and formed an ad hoc trustee committee to help evaluate finalist demonstrations.

Staff told the board that Linea Solutions helped develop updated business rules and system requirements and that an RFP was issued Jan. 17. The RFP seeks a replacement or upgrade to the plan's current hosted Penfax system and invites multiple vendors to respond; vendor proposals are due March 17 and staff expects to shortlist finalists for live demonstrations in the week of April 28–May 2.

Why it matters: the county's pension administration software holds member records, processes benefits and supports payroll and actuarial reporting. Staff said the current system was implemented in 2013 and that support timelines for the vendor's older components shortened when third‑party vendor support shifted; Linea recommended reopening the field rather than direct rollover to the incumbent.

Staff said the demonstrations will be substantial and will likely be one full day per finalist. Because of the workload, staff asked the board to name two or three trustees to serve on the review team and attend the demonstrations; live attendance was preferred, though staff said it would explore whether trustees could participate remotely.

Trustees volunteered. The board approved an ad hoc committee consisting of Trustee David Prince, Trustee Norma (name as spoken in the meeting), Trustee Collin Gee and the motion maker (chair; name not specified in the transcript). The motion was seconded and approved by voice vote.

The RFP timeline in the packet sets proposal due date at March 17, finalist demonstrations the week of April 28–May 2, and subsequent negotiation and implementation steps subject to finalist selection and contract negotiations. Staff said the full RFP packet is posted on the ISERS website and that questions from vendors were being answered before the submission deadline.","Imperial County's retirement board issued an RFP for a new pension administration system (PAS) and appointed trustees to an ad hoc committee to evaluate vendor demonstrations following staff and consultant review.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6674759,"ISERS board adopts small policy tweak, hears presentations from fixed‑income managers",5217,214000,5431000,"/Search/View?dp=1&key=2346864-cf6d2c633901c3b5bc55c95d87039dbd&start=214&end=5431","https://assets.pipeline.soar.com/2346864-cf6d2c633901c3b5bc55c95d87039dbd/thumbnail_214000.jpg","/articles/6674759/Imperial-County/California/ISERS-board-adopts-small-policy-tweak-hears-presentations-from-fixedincome-managers","https://secure.pipeline.soar.com/6674759-4f9f6412f16a9016132c321cc6c3c501/orig.mp4?Expires=1770674870&Signature=EwVAcnvmX9jIhgh~i56ZrbxGwzerSSVZ6LPRn3CSubGrkkqWH0pX7CINrYDSaRngDuz5VZPEk9HD21FUKPWBiNESu7LXpHNU~qjh~pc~Vhc1rtMFjqV3yjmtzMpgsr1KYp5aAs2MT1LUJo6e5JBrFAzSJIIIpKzKIoJks0SElb522hLcJsZwE2R~Tjxo5IUD~aNmLQ6N4HMyJ295l68eWLGxOBFd8mJzhGwN4ETdT4zcMfPzPPI~8W0vxms1qC3IAKyfVw2oGNdCUZEDwfv9u-uGyQA47mKlX-QsJ~cC-z6qslCQA7glr6Sd7Amu5LIiOBhT~JBqdqreiEDMKKJtHQ__&Key-Pair-Id=KUT5TJCACFTXG","The Imperial County Employees' Retirement System board voted Feb. 19 to amend its investment policy to show a 1% cash target and to separate a TIPS allocation from core fixed income. Trustees approved the change after hearing presentations from two fixed‑income managers and a portfolio consultant.

The change moves 1% of the plan's target allocation from TIPS to cash and adds an explicit 1% cash line to the policy, staff said. Board counsel and staff framed the adjustment as an administrative clarification to align the written policy with how the fund is managed today.

Why it matters: staff and consultants told trustees that while the plan's long‑term target return remains unchanged, liquidity will become more important as the system matures. Consultants showed that a modest cash buffer can help meet near‑term capital calls and benefit payments without forced sales of other assets.

Income Research & Management (IR&M) opened the presentations. Eric Mueller, presenting for the firm, said fixed income has become more attractive because of higher yields and that IR&M emphasizes bottom‑up security selection rather than trying to forecast interest‑rate moves. \"What a time to be invested in fixed income. Rates are up, so returns are therefore gonna be up, as well,\" Mueller said.

Mueller said IR&M manages only cash bonds with no derivatives or leverage and described a modest yield advantage versus benchmarks driven by careful security selection and allocations to securitized products such as agency mortgage‑backed securities, ABS and CMBS. He said the firm is underweight long corporates and finding value in short corporates and securitized credit.

MacKay Shields' presentation, delivered by Steve Buckley, underscored a similar view that markets currently offer more yield than in recent years and that diversified, core‑plus portfolios can benefit from allocations across securitized products, corporate credit and commercial mortgages. \"We run a core plus portfolio for ISERs,\" Buckley said, adding that the fund's yield to worst was just under 6% at the end of the quarter versus roughly 5% for the benchmark.

Board discussion included questions about TIPS allocations, manager fees for private market managers, and how rising Treasury yields and potential tariff or fiscal changes might affect returns. Trustee David Prince and others urged staff to provide clearer fee reporting for private managers; staff agreed to coordinate with the plan's administrative consultant to align fee detail in future packets.

Following the presentations, Trustee David Prince moved to adopt the proposed policy changes; the motion was seconded and approved by voice vote.

The board also received an informational update that Sixth Street has entered a strategic partnership with Northwestern Mutual; staff said the deal involves Northwestern taking a passive 7% stake and committing capital to Sixth Street but does not create a conflict with ISERS' existing allocations.

Trustees completed routine consent items and minutes earlier in the meeting, and the board recessed for a short break before continuing with other agenda items.","The Imperial County Employees' Retirement System board approved a minor change to its investment policy to formalize a 1% cash target and a separate TIPS allocation, and received performance and market outlook presentations from Income Research & Management and MacKay Shields.","actionData","errors"]

Article not found

ISERS board approves 2% cost‑of‑living adjustment for eligible retirees

ISERS issues RFP for pension administration system; board names ad hoc selection committee

ISERS board adopts small policy tweak, hears presentations from fixed‑income managers