Employee Retirement Plans (MCERP)

What the Department Does and for Whom

Mission Statement: The Montgomery County Employee Retirement Plans' mission is to manage prudent investment programs for the members, and their beneficiaries, of the Employee Retirement Plans and the Retiree Health Benefits Trust

CORE FUNCTIONS 1 and 2 : EMPLOYEE RETIREMENT PLANS AND RETIREE HEALTH BENEFITS TRUST 

Retiree Health Benefits Trust and Employee Retirement Plans Activities:
  • Develop investment program, investment policy statement and asset allocation guidelines
  • Manage the risk to which the Trust is exposed while maximizing the potential for asset growth
  • Select and evaluate investment strategies and managers to ensure compliance with program, policies, and guidelines
  • Ensure costs associated with investment program oversight are within budget

Employee Retirement Plans: Rate of return - used to compare to the 7.5% Actuarial Assumed Return
Employee Retirement Plans: Rate of return in excess of the return of the total fund benchmark (passive indices)

CORE FUNCTIONS 3, 4 and 5 : RETIREMENT SAVINGS PLAN, COUNTY DEFERRED COMPENSATION PLAN, AND POLICE DRSP

Retirement Savings Plans and County Deferred Compensation Plans Activities:
  • Develop investment policy 
  • Offer diverse slate of prudent funds offerings that are the strongest performing funds within asset classes with fees that are as low as possible 
  • Select and monitor investment options available to participants 
  • Select and evaluate record keeper and revenue sharing 
  • Offer investment counseling services to participants 
  • Evaluate and monitor performance of investment fund offerings 
  • Ensure costs associated with investment program oversight are within budget

Police DRSP Activities: 
  • Offer diverse slate of prudent fund offerings that are the strongest performing funds, and with asset classes with fees that are as low as possible 
  • Select and monitor investment options available to participants 
  • Select and evaluate record keeper and revenue sharing 
  • Evaluate and monitor performance on investment fund offerings

Percentage of funds offered that are ranked at or above median of all managers with similar styles in peer comparison over market cycle
Percentage of fees for fund offerings that are at or below median fees charged by all managers with similar styles in peer comparison