10/22/26 Sheriff's Office Retirement Planning Board

The St. Mary’s County Sheriff’s Office Retirement Plan Board met on October 22, 2026. The actuary from Boomer Shine Consulting Group presented the June 30, 2026 valuation: the plan’s smoothed funded ratio was 83% (91% on a market-value basis), and projections showed progress toward full funding, assuming the county continues making its full contributions and investment returns meet assumptions. The Board approved the valuation as presented. The actuary also said an experience study of plan assumptions is planned for next year; members discussed considering annual valuations in the future.

The investment consultant reported that private-market returns would raise the plan’s second-quarter return estimate from 7.8% to approximately 8.2–8.3%. The Board approved a $1.5 million additional commitment to the IFM Global Infrastructure Fund, alongside an existing $3.5 million Brookfield commitment, to move toward the plan’s 6% infrastructure allocation target. It also approved a rebalancing recommendation to invest $1 million—drawn from the government money-market fund and cash—into the Fidelity U.S. Bond Index. The administrator reported $15,368.50 in invoices paid since the prior meeting, including actuarial, benefit-portal, and medical-review charges; the Board approved the administrator’s report.