What's Being Discussed

Trustee election results: The committee will receive an update on a recent board member election and officially announce the newest trustee.
Financial health of the pension fund: An actuarial firm (Gabriel Roeder Smith & Company) will present a preliminary report estimating the retirement system's financial condition as of June 30, 2026.
Internal audit progress: The auditing firm KMH LLP will report on audit work completed in the first half of 2026 and whether past recommendations have been acted on.
Compliance program update: Staff will report on efforts to identify risks, update internal policies, and manage risks posed by outside vendors and third parties.
Closed (executive) sessions: The committee will meet privately to discuss sensitive topics including cybersecurity and data protection, reallocation of internal audit resources, and a risk dashboard covering security vulnerabilities.
Meeting minutes: The committee will review and approve minutes from its February 11, 2026 meeting.

Decisions Expected

Approval of minutes from the February 11, 2026 regular and executive sessions.
Acknowledgment of the new board trustee following the election.
Possible direction given to staff on compliance, audit resources, and cybersecurity matters discussed in closed session.

Who Should Pay Attention

Hawaii state and county employees and retirees who participate in the Employees' Retirement System (ERS) pension plan.
Anyone interested in the financial stability and security of Hawaii's public employee pension fund.
Members of the public concerned about cybersecurity protections for government retirement data.

The meeting is open to the public in person or via Microsoft Teams. Public testimony is limited to 3 minutes. Written comments should be submitted by 4:30 p.m. on July 7, 2026, to dale.kanae@hawaii.gov.