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MainePERS 2023 Annual Board Work Plan

January

Disability Retirement Program (PL2021, c. 277)

  • Experience Report
  • LTDI Report

Proxy Voting Report

February

Finance & Audit Committee

  • Annual selection of Chair
  • Quarterly Internal Audit Report

Investment Policy Review

Quarterly Investment Reports*

March

Quarterly Investment Education

MaineStart Quarterly Review


April

Finance & Audit Committee

  • Annual Budget – Review

Fiduciary Education

May

Finance & Audit Committee

  • Annual Budget – Vote
  • Quarterly Internal Audit Report

Annual Budget

Quarterly Investment Reports*

June

Enterprise-wide Risk Assessment

Quarterly Investment Education

MaineStart Quarterly Review


July

Strategic Plan Update

Proxy Voting Report

Actuarial Economics Assumption Review

August

Finance & Audit Committee

  • Quarterly Internal Audit Report

Annual COLA Approval

Quarterly Investment Reports*

Board Self-Evaluation Survey

September

Board Self-Assessment Survey Results/Discussion

Quarterly Investment Education

MaineStart Quarterly Review

CEO Annual Self-Assessment Due


October

Annual Actuarial Valuation

Annual Audited Financial Statements

Member Satisfaction Survey Results

Key Performance and Risk Measures

CEO Annual Review

November

Finance & Audit Committee

  • Quarterly Internal Audit Report

Board Officer Elections

Board Policy Review

Quarterly Investment Reports*

December

Annual Board Calendar

Annual Board Work Plan

Finance & Audit Committee Appointments

ESG Report & Policy Review

Divestment Report

Quarterly Investment Education

MaineStart Quarterly Review

Annual Conflict of Interest Statement


Annual Board Work Plan – Frequency Schedule

Quarterly

Finance & Audit Committee Meetings (1.6)

  • Internal Audit Reports (1.6)

Quarterly Investment Reports*:

  • Rebalancing Report (2.1)
    • GLI Current Asset Allocation (2.1-A)
    • RHIT Current Asset Allocation (2.1-B)
  • Investment Quarterly Review
  • Risk Diversifiers Quarterly Review
  • Cliffwater Quarterly Review
  • Real Estate Quarterly Review

MaineStart Quarterly Report (2.1-C)

Proxy Voting Report (2.7) – semi-annually

Annually

Board Calendar (1.10)

Board Work Plan #

Board Policy Reviews (review 1/3 each year)

Board Self-Assessment (1.7) & Continuing Education Needs #

Fiduciary Education #

Conflict of Interest Statement (1.3)

Budget (1.6)

Audited Financial Statements (1.6)

Actuarial Economic Assumptions Review (2.2)

Actuarial Valuation (2.2)

Investment Policy Review #

ESG Report (2.6; PL2021, c. 277)

COLA Approval (5 M.R.S. sec. 17806; Rule 803)

Enterprise-wide Risk Assessment #

Strategic Plan Update #

Key Performance and Risk Measures #

Divestment Report (PL2021, c. 231)


Every 2 Years

Rate Setting (Biennial Budget; July of even-numbered years)

Finance and Audit Committee Appointments (1.6; November of even-numbered years)

Collective Bargaining Contract Approval (November of odd-numbered years)

Every 5 years

Custodian Review/RFP – April 2023 (2.1)

Proxy Advisor Review/RFP – April 2025 (2.1)

Actuarial Experience Study – June 2026 (2.2)

Actuarial Audit – Sep 2026 (2.2)

Actuarial Consultant Review/RFP – Jan 2027 (2.2)

Asset/Liability Study – Mar 2027 #

Strategic Plan – Jul/Aug 2027 #

Board Consultants Review/RFP – October 2027 (2.1)

External Auditor Bid Process (1.6) – March 2026

# Governance Best Practices Assessment


NOTE: The annual work plan is for Board and staff planning purposes.  Notice of public meetings is provided in accordance with the Freedom of Access Act.

Board Work Plan (PDF)