What's Being Discussed

Staff updates on investments, member services, accounting, technology, and ongoing projects from the Executive Director, Deputy Director, and support staff.
Board leadership — updating officer elections and committee assignments for 2026.
Governance and policy — reviewing committee charters, board education and travel procedures, and internal oversight structure.
Hiring and staffing — discussing succession planning, the search for a new Chief Investment Officer, and recruitment plans for the Information Security Officer, Deputy Executive Director, and Chief Compliance Officer under a new state law (Act 149, 2026) that exempts certain senior ERS positions from civil service rules.
IT position — considering whether to exempt the Information Systems Branch Manager role from civil service requirements, including a possible proposal for the 2027 legislative session.
Investment review — examining total fund performance through June 30, 2026, reviewing the private credit portfolio, and discussing asset-liability study updates and investment benchmarks.
Closed (executive) sessions on cybersecurity matters and a personnel matter involving the Chief Compliance Officer.

Decisions Expected

Approval of meeting minutes from July 13, 2026.
Approval of revisions to the Governance Policy Committee Charter.
Potential approval of a systematic trend investment benchmark.
Direction on proposed salary recommendations for key executive positions.

Who Should Pay Attention

Hawaii state and county employees and retirees whose pension benefits are managed by ERS.
Anyone interested in how public pension funds are invested and governed.
Those following state workforce or civil service policy, particularly around senior government hiring.