ERFC Board of Trustees

Meet the FY 2020 Board of Trustees
ERFC-Direct ERFC 2001 Tier 2 Plan ERFC 2001 Tier 1 Plan ERFC Legacy Plan ERFC Financials

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.

    Chairperson and Trustee
    Chief Operating Officer
    Vice Chairperson and Trustee
    Assistant Superintendent Department of Financial Services
    Assistant Superintendent Department of Human Resources

    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 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. The ERFC Investment Committee meets quarterly at 9:30 a.m. on the day of the regular monthly Board meeting. Unless noted otherwise, all committee meetings and Board meetings are held in the ERFC board room at 8001 Forbes Place in Springfield.

    • 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 9:30 a.m.

    Agendas and Supporting Materials

    Investment Committee Meetings

    • Thursday - May 21, 2020 at 8:30 a.m.
      • Investment Committee Meeting via Teleconference
        ​​​Investment Committee meeting recording available here

    RFP Committee Meetings

    • 2020 Date to be announced
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