What's Being Discussed

The Investment Committee of the Hawaii Employees' Retirement System (ERS) — the pension fund for state and county workers — is holding its regular meeting on Monday, August 24, 2026, from 9:00 a.m. to noon at City Financial Tower in Honolulu. The public may attend in person or join by video or phone. Key topics include:

• Overall fund performance: A review of how the entire retirement fund performed through June 30, 2026.
• Asset Liability Study update: An ongoing look at whether the fund's investments are well-matched to its future payout obligations to retirees.
• Private credit portfolio review: A closer look at one specific category of investments — private loans — through March 31, 2026.
• Systematic trend benchmark: An education session on how the fund measures performance of a particular investment strategy, followed by a vote to approve that benchmark.
• Chief Investment Officer update: A general staff report on investment office activities.

The committee will also hold a closed executive session to discuss confidential investment activity and legal matters that cannot be shared publicly by law.

Decisions Expected

• Approving the systematic trend benchmark used to evaluate a category of investments.
• Approving meeting minutes from May 26, 2026, including confidential executive session minutes.
• Possible investment decisions made during the closed executive session.

Who Should Pay Attention

• State and county employees and retirees whose pension benefits depend on this fund's performance.
• Hawaii residents interested in how public employee retirement funds are managed.
• Anyone wishing to comment should submit written testimony by 4:30 p.m. on August 20, 2026, to diana.gomes@hawaii.gov.