Chairperson and Trustee
ERFC Board of Trustees
Meet our Trustees
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The ERFC is administered by a Board of Trustees, which holds all of the contributions in trust, and supervises the investment of the trust's assets by registered investment advisors. The Board is composed of seven members: three are appointed by the School Board, and three are elected by active ERFC members. The six combined Board members recommend someone who is not affiliated with FCPS for the seventh position, which is subsequently approved by the School Board.
ERFC Mission, Vision and Values
It is our mission to enhance the financial security of our members and our vision is to be the leader among our peers providing professional, personalized services to our members and their beneficiaries.
ERFC Mission
The ERFC mission is to enhance the financial security of our members through prudent financial stewardship of a defined benefit plan while providing outstanding retirement services and education.
ERFC Vision
To be the leader among peers providing professional and personalized service to our members and beneficiaries to support their efforts to achieve financial independence.
Values
Accountability | Customer Service | Open Communication | Integrity | Continuous Education
ERFC Values and Prudent Management Principles
Our values and management principles drive what we do every day to meet our mission requirements and work towards our vision.
Values
Accountability
We always operate with transparency and a commitment to think strategically while fulfilling fiduciary obligations.
Customer Service
We always respond promptly with quality as we strive to exceed the expectations of our members and their beneficiaries.
Open Communication
We provide timely and pertinent information that improves processes, removes barriers and establishes accountabilities.
Integrity
We conduct operations by adhering to the highest standards of ethical conduct, striving for accuracy, efficiency and effectiveness.
Continuous Education
Through ongoing education efforts, we enable ERFC employees to continuously improve the service and value they provide to our members; our Board of Trustees to more effectively guide and inform ERFC strategy; and our members to better understand and maximize their ERFC benefits.
Prudent Management Principles
Adequate Funding
To maintain adequate funding of all promised benefits, and to ensure the financial integrity of the System.
Prudent Investments
To adopt comprehensive objectives, methods for evaluation of performance, and policies that ensure the highest possible investment return consistent with the prudent investment of plan assets.
Actuarial Studies
To have an annual actuarial valuation performed by an enrolled actuary in accordance with actuarial standards and to implement an actuarial experience study at least every five years.
Annual Reports
To keep, as part of the public record, annual financial, actuarial and investment information that will be available for members and elected officers.
Financial Audits
To prepare an annual financial statement in accordance with generally accepted accounting principles, and to implement an annual audit of the System’s financial statement in accordance with generally accepted auditing standards.
FY 2020-2021 Board of Trustees' Meeting Schedule
The ERFC Board of Trustees meets monthly throughout the year (excluding August). Meetings may be rescheduled or additional meetings may be added as necessary, with all such changes posted here on the website. Unless noted otherwise, all Board meetings are held in the ERFC board room at 8001 Forbes Place in Springfield.
- Thursday - July 16, 2020 at 8:30 a.m.
Meeting recording Part 1 available here
Meeting recording Part 2 available here -
September 17, 2020 | 12:30 – 1:30 p.m.
Meeting recording Part 1 available here
Meeting recording Part 2 available here -
October 15, 2020 | 8:30 a.m. – 1:00 p.m.
Meeting recording available here -
November 19, 2020 | 8:30 a.m – 1:30 p.m.
Meeting recording available here - December 11, 2020 | 8:30 a.m. – 1:30 p.m.
Meeting recording Part 1 available here
Meeting recording Part 2 available here
- January 22, 2021 | 8:30 a.m. – 1:30 p.m.
Meeting recording available here
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February 26, 2021 | 8:30 a.m. – 1:30 p.m.
Meeting recording available here
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March 26, 2021 | 8:30 a.m. – 1:30 p.m.
Meeting recording available here -
April 29 – 30, 2021 | Retreat TBD
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May 28, 2021 | 8:30 a.m. – 1:30 p.m.
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June 25, 2021 | 8:30 a.m. – 1:30 p.m.
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July 23, 2021 | 8:30 a.m. – 1:30 p.m.
FY 2019-2020 Board Meeting Archive
- Thursday - May 21, 2020 at 11:00 a.m.
- Thursday - June 18, 2020 at 8:30 a.m.
Board of Trustees Meeting via Teleconference
Meeting recording available here
- Thursday - July 16, 2020 at 8:30 a.m.
Board of Trustees Meeting via Teleconference
Meeting recording Part 1 available here
Meeting recording Part 2 available here
ERFC Strategic Plan
Board Governance and Policies
Legal
- Enabling Ordinance
- Trustee Standard of Conduct
- Staff Standard of Conduct
- VA Code Conflicts of Interest
- P533.5 Conflict of Interest - Employees
- Trustee Fiduciary Duties
- Outline of Major VA FOIA Provisions
- Code of VA FOIA Act
- Memo re Public Records Act
- Code of VA Public Records Act
- Fiduciary Liability Insurance Policies
Policies
- Board Procedures
- Investment Policy
- ERFC Board Policies
Retirement Plan Documents and Regulations
- ERFC Plan Documents
- Other Documents & Regulations
