ERFC Board of Trustees

ERFC-Direct ERFC 2001 Tier 2 Plan ERFC 2001 Tier 1 Plan ERFC Legacy Plan ERFC Financials

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.

    Meet the ERFC Board of Trustees

    ERFC Mission, Vision, and Values

    Mission

    To enhance the financial security of our members through prudent financial stewardship of a defined benefit plan while providing outstanding retirement services and education.

    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 toward 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 2022-2023 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.

    • July 22, 2022 | 9:30 a.m. – 2:30 p.m. | In-Person Meeting | Meeting Minutes

    • August 4, 2022 | 9 a.m. – 12 p.m. | In-Person Meeting | Meeting Minutes

      Ad Hoc Session 
    • September 30, 2022 | 9:30 a.m. – 2:30 p.m. | In-Person Meeting | Meeting Minutes

    • October 28, 2022 | 9:30 a.m. – 2:30 p.m. | In-Person Meeting | Meeting Minutes

    • November 15, 2022 | 4:30 – 5:30 p.m. | In-Person Meeting

      Special Meeting Closed Session - Personnel Matters
    • November 18, 2022 | 9:30 a.m. – 12:02 p.m. | All-Virtual Meeting 

    • December 16, 2022 | 9:30 a.m. – 2:30 p.m. | In-Person Meeting

      This will be an in-person Board of Trustees meeting. The method by which the Board is meeting will not be changed unless a new meeting notice is provided.

    • January 20, 2023 | 9:30 a.m. – 2:30 p.m. | In-Person Meeting

      This will be an in-person Board of Trustees meeting. The method by which the Board is meeting will not be changed unless a new meeting notice is provided.

    • February 24, 2023 | 9:30 a.m. – 2:30 p.m. | In-Person Meeting

      This will be an in-person Board of Trustees meeting. The method by which the Board is meeting will not be changed unless a new meeting notice is provided.

    • March 24, 2023 | 9:30 a.m. – 2:30 p.m. | In-Person Meeting

      This will be an in-person Board of Trustees meeting. The method by which the Board is meeting will not be changed unless a new meeting notice is provided.

    • April 28, 2023 | 9:30 a.m. – 2:30 p.m. | In-Person Meeting

      This will be an in-person Board of Trustees meeting. The method by which the Board is meeting will not be changed unless a new meeting notice is provided.

    • May 19, 2023 | 9:30 a.m. – 2:30 p.m. | In-Person Meeting

      This will be an in-person Board of Trustees meeting. The method by which the Board is meeting will not be changed unless a new meeting notice is provided.

    • Jun 22 - 23, 2023 | ERFC Board of Trustees Retreat | In-Person Meeting

      This will be an in-person Board of Trustees meeting. The method by which the Board is meeting will not be changed unless a new meeting notice is provided.

    • July 21, 2023 | 9:30 a.m. – 2:30 p.m. | In-Person Meeting

      This will be an in-person Board of Trustees meeting. The method by which the Board is meeting will not be changed unless a new meeting notice is provided.

    Previous Board Meetings Archive

    • Thursday - May 21, 2020 at 11:00 a.m.
      • Board of Trustees Meeting via Teleconference
        Meeting recording Part 1 available here
        Meeting recording Part 2 available here
         
    • 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

       

    • 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

    • February 26, 2021 | 8:30 a.m. – 1:30 p.m. 

      Meeting recording available here

    • March 26, 2021 | 8:30 a.m. – 1:30 p.m. 

      Meeting recording available here
    • April 29 – 30, 2021 | ERFC Retreat

      • April 29 – ERFC Retreat  Day 1

        Meeting recording available here
         
      • April 30 – BoT Meeting, followed by Retreat Day 2

        Meeting recording available here
    • May 28, 2021 | 8:30 a.m. – 1:30 p.m. 

      Meeting recording available here

    • June 25, 2021 | 8:30 a.m. – 1:30 p.m. 

      Meeting recording available here
    • July 19, 2021 | 10:15 a.m. – 11:15 a.m.

      Special Meeting Closed Session - Personnel Matters
    • July 23, 2021 | 8:30 a.m. – 1:30 p.m. 

    • August 13, 2021 | 10:00 a.m. – 11:00 a.m.

      Special Meeting Closed Session - Personnel Matters

    • September 24, 2021 | 9:30 a.m. – 2:30 p.m.

    • October 15, 2021 | 9:30 a.m. – 2:30 p.m.

    • November 19, 2021 | 9:30 a.m. – 2:30 p.m.

    • December 17, 2021 | 9:30 a.m. – 2:30 p.m.

    • January 28, 2022 | 9:30 a.m. – 2:30 p.m.

    • February 25, 2022 | 9:30 a.m. – 2:30 p.m.

    • March 25, 2022 | 9:30 a.m. – 2:30 p.m.

    • April 29, 2022 | 9:30 a.m. – 2:30 p.m.

    • May 27, 2022 | 9:30 a.m. – 2:30 p.m.

    • Jun 23 - 24, 2022 | ERFC Board of Trustees Retreat

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