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Meeting Minutes Worker's Compensation and Employer Liability Trust Board Regular Meeting January 28, 2026, 4:00 pm Council Chambers Conference Room 88 East Chicago Street, Chandler, AZ Call to Order The meeting was called to order by Chair Anderson at 4:00 pm. Roll Call Present Elisha Anderson Val Gale Carson Mohr Mark Knight Absent Jonah Roehl Other Attendance J.C. Borego, HR Manager Kristi Smith, Management Services Director Lina Alam, Accounting Supervisor Rowena Laxa, Assistant City Attorney Sarah Meland, Management Analyst Joshua Jumper, Heinfeld Meech Adam Hirsch, Oliver Wyman Roll Call was taken by the recording secretary who declared a quorum was present. Scheduled and Unscheduled Public Appearances None. Consent Agenda and Discussion 1. November 12, 2025 City of Chandler Workers' Compensation and Employer Liability Trust Board Meeting Minutes Page 2 of 3 Consent Agenda Motion and Vote Secretary Knight moved to approve the Minutes of the November 12, 2025 Workers’ Compensation and Employer Liability Trust Board Meeting; seconded by Board Member Mohr. Motion carried unanimously (4-0). Briefing 2. Financial Audit Report – Joshua Jumper, Heinfeld Meech Because Adam Hirsch had not yet joined the meeting, Joshua Jumper went first and presented the Financial Audit Report for the period ending June 30, 2025 which is attached to the agenda for this meeting. Discussion: Mr. Mohr asked about the claim adjustment credit of $782,899. Mr. Jumper explained that the credit was due to a decrease in case reserves. 3. Actuarial Report – Adam Hirsch, Oliver Wyman Adam Hirsch presented the Actuarial Report for the period ending June 30, 2025 which is attached to the agenda for this meeting. Discussion: Mr. Mohr asked for clarification of the 6/30/2025 unpaid losses & ALAE number. Mr. Hirsch explained that the number in the dark blue box for 6/30/2025 represents a best estimate and may change, whereas as the number in the lighter blue box for 6/30/2024 is unlikely to change as most claims are closed. 4. Financial Statements and Investment Report – Lian Alam, Accounting Supervisor Lina Alam presented the Financial Statements and Investment Report which are attached to the meeting agenda which is attached to the agenda for this meeting. Discussion: None. 5. Rate Contribution and Reserve Recommendation – Kristi Smith, Management Services Director Kristi Smith presented the Rate Contribution and Reserve Recommendation which is attached to the agenda for this meeting. Discussion: Ms. Smith mentioned that there are currently two Senate bills that could affect workers’ compensation claims which could, in turn, affect reserves. These bills will be monitored and should they pass, we do have sufficient reserves. Action Agenda Page 3 of 3 6. Resolution Regarding Rate Contribution and Reserve Recommendation Mr. Knight moved to approve Resolution No. WC-013 for the City of Chandler Workers' Compensation and Employer Liability Trust Board Recommending the Workers' Compensation Contribution and Reserve Level for Fiscal Year 2026-2027. Mr. Mohr seconded the motion. Motion passed unanimously (4-0). Member Comments/Announcements None. Calendar and Informational Items for Future Meetings Chair Anderson informed the Board that the next meeting on June 10, 2026 at 4:00 pm is a joint meeting with the Health Care Benefits Trust Board, and will include reviews of the financial statements and investment report, and election of officers. Adjourn Mr. Knight motioned to adjourn the meeting. The motion was seconded by Mr. Mohr and passed unanimously, 4-0. The meeting was adjourned at 4:41 pm. _________________________________________ _________________________________________ Sarah Meland, Recording Secretary Elisha Anderson, Chair