Open and Transparent ?????

 

On January 18, 2024, during the CTPF Board of Trustees Meeting, investment decisions were being made in the executive session. The Pension Advocacy Group raised concerns about this and filed several Freedom of Information Act (FOIA) requests. The story starts with the FOIA request that was made on January 18, 2024.

FOIA 2024-012 –
1. The CTPF investment staff's due diligence write-ups on Farol Fund II.
2. The presentations of International Value (ACEI ex-US) investment managers' Services,   #6 B of the agenda    [there is a typo ACEI ex-US should be ACWI wx Us]

After waiting the appropriate time as required by law, I followed up with an email regarding my FOIA request. CTPF staff responded with an email:

On Wed, Jan 31, 2024 at 4:35 PM Sandy McNamara <mcnamaras@ctpf.org> wrote:

Hello Ms. Padilla,

After your email inquiring about your FOIA request from January 18, 2024, we followed up with the Funds Communication Team. They were able to look into this and did find two FOIAs submitted by you on January 18, 2024.

 We apologize but these request never made it to us. We are working with the vendor to resolve this issue.

 FOIA 2024-012 –
1. The CTPF investment staff's due diligence write-ups on Farol Fund II.
2. The presentations of International Value (ACEI ex-US) investment managers' Services,   #6 B of the agenda
Thank you

 FOIA 2024-014-

I am requesting CTPF staff due diligence write-up on Farol Fund III.

 We are working on gathering these materials. Please expect a response by February 7, 2024.

We appreciate your patience.

 Thank you,

On February 8, 2024, I received a denial letter from CTPF Daniel Hurtado Chief Legal Officer. 

This denial and the upcoming Investment Committee Meeting raise more questions and concerns. For example, why are investment committee materials being discussed in the executive session? Is it because all board meeting recordings can now be accessed on the CTPF website? Or is it because they will be investing our hard-earned retirement savings with Public Equity managers who have not acted in the best interest of Defined Benefit plans or teachers?

Please help protect and grow the "Gold Standard of Retirement Security" by sending an email to the Chair of the Investment Committee, Trustee Jacquelyn Price-Ward at WardJ@ctpf.org, and copying all trustees.

BlackwellJ@ctpf.org, ReillyM@ctpf.org, NelsonL@ctpf.org, BarajasP@ctpf.org, Ochoav@ctpf.org, Vinsont@ctpf.org, Washingtonq@ctpf.org, RodriguezM@ctpf.org, Woodst@ctpf.org

Everybody has to be somewhere, if possible, please be at the February 27, 2024 CTPF investment committee meeting. If you choose to attend in-person or online you may register at https://www.ctpf.org/event/investment-committee-meeting-22

Hope to see you there,