To: Board of County Commissioners
Through: Patrick Hernandez, Director, Human Resources
Prepared By:
prepared
Ben Colussy, Retirement Plan Administrator, Human Resources
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presenter
Presenter: Andy Fiegel, CAPTRUST, Investment Consultant;
Ben Colussy, Retirement Plan Administrator, Human Resources;
Rich Harris, Chairman, Board of Retirement.
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Subject:
title
1:00 PM *Retirement Plan Update
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Purpose and Request:
recommended action
The purpose of this session is to provide an update on the County’s retirement plans, focusing specifically on the Plan’s investments. CAPTRUST will present a concise overview of current market conditions and the performance of the County’s Defined Benefit (DB) Plan.
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Alignment with Strategic Plan: Good Governance - Operate in transparent, inclusive, and communicative manner.
Background and Discussion: The Retirement Board is responding to the BOCC's request for more regular updates with the County Commissioners. During the last meeting in June, the Plan’s liabilities were reviewed with the actuary from Gabriel, Roeder, Smith. Today, the focus will be on the Plan’s assets, and the investment consultant CAPTRUST has been invited to review the current market and fund performance. Additionally, the Chairman of the Board, legal counsel, actuary, and Retirement Plan Administrator will attend to address any questions from the Board of County Commissioners as appropriate.
Alternatives: N/A
Fiscal Impact: N/A
Alignment with Strategic Implementation Strategies: The attached framework helps Arapahoe County institutionalize values-based, transparent decision-making, documenting how we make decisions and carry out actions to achieve the county’s strategic plan.
Staff Recommendation: N/A
Concurrence: N/A