Benefits Advisory Committee Meeting Minutes
IPERS Board Room
7401 Register Drive, Des Moines, Iowa
April 27, 2026
The following people attended the IPERS Benefits Advisory Committee (BAC) meeting held on Monday, April 27, 2026.
Members of the Benefits Advisory Committee - Present
Matt Carver, Chair
Melissa Peterson, Vice Chair
John Hieronymus
Steve Hoffman
Susanna Cave
Connie Kuennen
Len Cockman
Tamara Marcus
Lowell Dauenbaugh
Brian McDonough
Andrew Hennesy
Ty Wheeler
Members of the Benefits Advisory Committee - Absent
Todd Copley
Nathan Reckman
IPERS Administration and Staff
Elizabeth Hennessey, Acting CEO and General Counsel
Jan Hawkins, Deputy Chief Benefits Officer
Melinda McElroy, Executive Assistant
Sriram Lakshminarayanan, CIO
Shawna Lode, Chief Strategy Officer
Megan Schlesky, Legislative Liaison
Kelly Carnine, Member Services Bureau Chief
Jina Bresson, Retirement Investment Compliance Officer
Call to Order
Chairperson Matt Carver called the meeting to order at 1:00 p.m.
Approval of Meeting Minutes
Len Cockman moved to approve the minutes of the March 30, 2026, BAC meeting. The motion was seconded by Lowell Dauenbaugh and was unanimously approved by voice vote.
CEM Performance Measurement Presentation – Christopher Doll
Christopher Doll of CEM Benchmarking presented IPERS’ Pension Administration Benchmarking results for FY2025.
Acting CEO Report – Elizabeth Hennessey
Elizabeth Hennessey provided follow-up comments on the CEM report, highlighting IPERS’ commitment to enhancing member services and emphasizing that IT security continues to be a priority. She added that IPERS will review how IT security costs are reported following the recent IT organizational realignment with the Iowa Department of Management.
BAC Public Member Representative Update – Matt Carver
Matt Carver noted that the search for a public member will continue throughout the summer. The subcommittee consisting of Matt Carver, Melissa Peterson and Andrew Hennesy will review all submitted applications and present their recommendation at the next BAC meeting.
2026 Legislative Session – Megan Schlesky
Megan Schlesky’s legislative update highlighted that House File 1023, which offers benefit enhancements for Protection Occupation members, has successfully passed both chambers. Additionally, budget bills were reviewed, and there is potential for IPERS to gain six more full-time employees.
Administrative Rules Review – Andrew Ewing
Andrew Ewing reviewed the proposed changes to administrative rules Chapters 8 and 22. He noted that the BAC had previously reviewed Chapter 8 at its March meeting and that, after further discussions, IPERS will not move forward with all the changes approved then. Len Cockman moved to support the rules package as presented, and Lowell Dauenbaugh seconded the motion. The motion carried by unanimous voice vote.
Staff Reports
Benefits Update
Kelly Carnine reviewed the member demand measures report through March 2026. Jan Hawkins reported that IPERS is working with vendors to strengthen call center performance by analyzing call volume, identifying key drivers and expanding automation and AI tools such as callback features. She noted that improvements made after the FY2025 CEM reporting period should raise future scores. IPERS is also enhancing the digital retirement application and broader member online experience.
Investment Update
Sriram Lakshminarayanan reported IPERS’ Trust Fund balance at $50.36 billion and provided a general update on current investment market conditions.
Appeals Update
Andrew Ewing reviewed the Appeal Status report as of April 2026.
Strategy Division Update
Shawna Lode provided an update highlighting IPERS’ ongoing statewide outreach effort, including recent member and employer education sessions Council Bluffs. She also reported that annual benefit statements are now delivered digitally through the secure member portal. Only 12,000 members who selected paper communication will receive mailed statements, significantly reducing printing and postage costs compared to prior years.
Other Business
Lowell Dauenbaugh was recognized for his many years of dedicated service to IPERS and its members.
Public Comments
Public comments were heard from former Senator Patrick Deluhery.
Future Meeting Dates
The next scheduled BAC meeting will be held on Monday, August 24, 2026. With no further business before the committee, Steve Hoffman moved to adjourn the meeting. The motion was seconded by Andrew Hennesy and carried unanimously by voice vote. Meeting adjourned at 2:50 p.m.