Legal and Regulatory
457(b) Plan Documents and Information on the Investment Committee
The 457 Investment Committee supports the FCPS deferred compensation 457(b) Plan. This plan was implemented in 2004 with six investment options, a stable value option and five mutual funds, representing a wide spectrum of core investment choices offering participants different levels of risk and return. The objective is to sponsor a plan that is relatively simple to understand, cost effective for the participants, offers core investment options and has minimal administrative involvement.
On a quarterly basis the Investment Committee reviews and evaluates each investment fund, net of fees, for performance criteria.The Investment Committee reviews the level of diversification between the investment options and the investment categories on an annual basis. The Committee may choose to add, change, or delete investment options as a result of this analysis. The Committee may terminate a fund at any time it deems that the fund no longer meets the investment objectives for the Plan and is no longer in the best interest of Plan participants.
The 457(b) Investment Committee consists of four members with the Assistant Superintendent of Human Resources as the sole permanent member. Two members are other FCPS employees who hold positions at the Assistant Superintendent or Executive Director level. The fourth member must hold a senior position with another employer with duties involving the investment of defined benefit or defined contribution plan assets.
Participants bear the risk and reap the rewards of investment returns that result from the investment options they select. The Investment Committee does not provide investment advice to participants or assist participants in selecting the funds in which to invest. The 457 Investment Committee operates according to the guidelines contained in the Statement of Overall Investment Objectives and Policy.
457b Plan Document
The 457b Plan Document
Statement of Overall Investment Objectives and Policy
The 457 Investment Committee Guidelines
Investment Committee Bylaws
The 457b Investment Committee Bylaws
457b Plan Adoption Agreement
The 457b Plan Adoption Agreement