Summary
The PICA Board convened on May 17, 2016, to evaluate financial planning strategies and approve research initiatives. Executive Director Harvey Rice reported on revenue trends, overtime spending, and discussions with the McArthur Grant administrators regarding criminal justice funding. The Board approved a motion to engage with Boston College researchers for an updated DROP study, pending legal review to ensure it would not interfere with ongoing litigation. Discussions also focused on the Sweetened Beverage Tax, with Board members questioning its enforcement costs and impact on small businesses. The meeting concluded with a discussion on potential changes to the pension fund’s investment strategy.