Santa Clara Valley Transportation Authority

BOARD OF PENSIONS Tuesday, March 10, 2026 11:00 a.m. Conference Room B-104, Building B Valley Transportation Authority (VTA) 3331 North First Street San Jose, California AGENDA 1)   CALL TO ORDER/ROLL CALL 2)   ORDERS OF THE DAY 3)   PUBLIC PRESENTATIONS   This portion of the agenda is reserved for persons desiring to address the Board on any matter not on the agenda. Speakers are limited to 2 minutes. All statements that require a response will be referred to staff for reply in writing. CONSENT AGENDA 4)   Approve   Minutes of February 10, 2026. 5)   Approve   Requests for   Service Pension: a)   Mario Aranda #3282   –   Terminated Vested b)   Djuana J. Dayton #3396 –   Option A c)   Edward DeLeon #14905   –   Option D d)   Virginia G. Gonzales #3438   –   Option A e)   Servando Cital #10387   –   Option A f)   Luis Antonio Salvador Da Silveira #11763   –   Option A g)   Souksavanh Sisomvang #5189   –   Option F-1 6)   CLOSED SESSION 7)   Matters Pertaining to Personnel: Disability Medical Records. a)   Darrell L. Garner #13239

REGULAR AGENDA 8)   CLOSED SESSION REPORT 9)   Approve/Deny   Request for Disability Retirement: Darrell L. Garner, Employee: #13239 10)   Approve   Requests from Board Members and Staff to Attend Educational Programs. (Mata) a)   With Intelligence, Pension Bridge The Annual, April 20-22, 2026, In Person, Los Angeles. b)   CALAPRS, Overview Course in Retirement Plan Administration, May 1, 2026, Virtual. c)   SACRS, Spring Conference 2026, May 12-15, 2026, In Person, Olympic Valley. d)   NCPERS, Trustee Essentials Training, May 16-17, 2026, Las Vegas. e)   NCPERS, Advanced Fiduciary Institute, May 16-17, 2026, Las Vegas. f)   NCPERS, Annual Conference & Exhibition, May 17-20, Las Vegas. 11)   Receive   January 2026 Preliminary Performance Report. (Meketa) 12)   Receive   December 2025 Quarterly Performance Report. (Malchenko/Meketa) 13)   Receive   2026 Capital Market Assumptions Review. (Meketa) 14)   Approve   Public Credit Benchmark Change Recommendation. (Malchenko/Meketa) 15)   Discuss   Travel and Expense Policy. (McKeon) 16)   Receive   Change of ATU Representative on the Board of Pensions. (Singh) 17)   Receive   Quarterly Budget Review (Mata). 18)   Receive   Update on Separated Employees’ Distribution . (Mata) 19)   Receive   Update on Pending Final Benefit Payments of Contributions. (Mata) 20)   Receive   Investment Committee Chairperson’s Report. ( Ragni) 21)   Review   Board of Pensions Work Plan. 22)   Consider   Requests for Future Agenda Items. 23)   Receive   Chairperson’s Report. ( R. Singh) 24)   Announcements and Communications 25)   Adjourn

NOTE BOARD MEMBERS: In order to establish whether or not a quorum exists for this meeting, members are asked to call Fanny Mata in the Human Resources Department at (408) 321 - 5547 before 5:00 p.m. on the day prior to the meeting. Thank you for your cooperation. All public records relating to an open session item on this agenda, which are not exempt from disclosure pursuant to the California Public Records Act, that are distributed to a majority of the Board of Pensions less than 72 hours before the meeting will be available for public inspection at 3331 North First Street, San Jose, CA at the same time that the public records are distributed or made available to the Board of Pensions. In accordance with the Americans with Disabilities Act (ADA) and Title VI of the Civil Rights Act of 1964, VTA will make reasonable arrangements to ensure meaningful access to its meetings for persons who have disabilities and for persons with limited English proficiency who need translation and interpretation services. Individuals requiring ADA accommodations should notify Fanny Mata at least 48-hours prior to the meeting. Individuals requiring language assistance should notify Fanny Mata at least 72-hours prior to the meeting at (408) 321-5547 or *e-mail: Retirement.Services@vta.org.

BOARD OF PENSIONS SANTA CLARA VALLEY TRANSPORTATION AUTHORITY AMALGAMATED TR

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What happened Santa Clara Valley Transportation Authority (2026-03-10 11:00 AM): BOARD OF PENSIONS Tuesday, March 10, 2026 11:00 a.m. Conference Room B-104, Building B Valley Transportation Authority (VTA) 3331 North First Street San Jose, California AGENDA 1) CALL TO ORDER/ROLL CALL 2) ORDERS OF THE DAY 3) PUBLIC PRESENTATIONS This portion of the agenda is reserved for persons desiring to address the Board on any matter not on the agenda Key decisions CONSENT AGENDA 4) Approve Minutes of February 10, 2026. 5) Approve Requests for Service Pension: a) Mario Aranda #3282 – Terminated Vested b) Djuana J What matters to the public Conference Room B-104, Building B Valley Transportation Authority (VTA) 3331 North First Street San Jose, California AGENDA 1) CALL TO ORDER/ROLL CALL 2) ORDERS OF THE DAY 3) PUBLIC PRESENTATIONS This portion of the agenda is reserved for persons desiring to address the Board on any matter not on the agenda. 5) Approve Requests for Service Pension: a) Mario Aranda #3282 – Terminated Vested b) Djuana J Topics covered - Housing and land use - Budget and finance - Transportation and infrastructure - Public safety - Health and social services Notable people / organizations - BOARD OF PENSIONS Tuesday - Conference Room B- - Valley Transportation Authority - North First Street San Jose Next steps David Sancewich of Meketa provided a detailed breakdown, reporting that the portfolio ended the calendar year with a total return of 13.7%, effectively outperforming its policy benchmark. On a long-term basis, the fund has maintained an annualized return of 7.7% over the last five years, which is significantly above the assumed rate of return required for funding