Board accepts treasurer and investment reports; portfolio reported near $514.6 million
February 27, 2026 | Retirement System, Agencies, Organizations , Executive, Virgin Islands, International
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The Government Employees Retirement System board accepted routine minutes and approved the treasurer's and investment officer's reports at its Feb. 26 meeting.
Treasurer Jeremiah presented January receipts and disbursement figures: total collections for the month were $14,061,953 and year-to-date collections $108,670,707; total disbursements for January were $24,890,104 and year-to-date $106,254,631. Jeremiah also said the fund showed a net deficit of $10,828,151 in December and a year-to-date net surplus of $2,416,075.
Administrator Dawson reported member-service figures and benefit transactions: 158 pending retirement applications (141 described as recent for FY 2526), 36 refunds of contributions totaling $459,212.34, and six death-benefit payments totaling $201,618.05. He told trustees the retiree payroll included 8,763 individuals as of Feb. 13, with eight more added since that date and about 15 expected for the Feb. 27 pay date.
Investment Officer Henderson gave a monthly market update and portfolio summary. He said the total plan was up roughly 2% for the month and stated, "that brought us to the ending market value of $514,600,000" as of Jan. 31, 2026. Henderson outlined allocations, net unrealized appreciation and fee totals, noting consultant and custodian fees and an estimated total fee value of about 0.003% of total assets.
Board action: Trustee Clark moved and Trustee Dorsey seconded acceptance of the treasurer's and investment reports. Both motions passed by roll call with four yes votes and two absences. The board then adjourned.
Why it matters: The reports provide the fiduciary and operational snapshot trustees rely on for oversight — payroll and benefit disbursements, loan-portfolio exposure, rental revenue and portfolio valuation inform investment and funding decisions.
Next steps: No new policy or budget action was taken; routine oversight reports were accepted and the attendance issue for an absent trustee may be placed on a future agenda.
Treasurer Jeremiah presented January receipts and disbursement figures: total collections for the month were $14,061,953 and year-to-date collections $108,670,707; total disbursements for January were $24,890,104 and year-to-date $106,254,631. Jeremiah also said the fund showed a net deficit of $10,828,151 in December and a year-to-date net surplus of $2,416,075.
Administrator Dawson reported member-service figures and benefit transactions: 158 pending retirement applications (141 described as recent for FY 2526), 36 refunds of contributions totaling $459,212.34, and six death-benefit payments totaling $201,618.05. He told trustees the retiree payroll included 8,763 individuals as of Feb. 13, with eight more added since that date and about 15 expected for the Feb. 27 pay date.
Investment Officer Henderson gave a monthly market update and portfolio summary. He said the total plan was up roughly 2% for the month and stated, "that brought us to the ending market value of $514,600,000" as of Jan. 31, 2026. Henderson outlined allocations, net unrealized appreciation and fee totals, noting consultant and custodian fees and an estimated total fee value of about 0.003% of total assets.
Board action: Trustee Clark moved and Trustee Dorsey seconded acceptance of the treasurer's and investment reports. Both motions passed by roll call with four yes votes and two absences. The board then adjourned.
Why it matters: The reports provide the fiduciary and operational snapshot trustees rely on for oversight — payroll and benefit disbursements, loan-portfolio exposure, rental revenue and portfolio valuation inform investment and funding decisions.
Next steps: No new policy or budget action was taken; routine oversight reports were accepted and the attendance issue for an absent trustee may be placed on a future agenda.
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