Bloomfield Township RHC and FSC Committee Quarterly Meeting on November 10, 2026

Bloomfield Township RHC and FSC Committee quarterly meeting, November 10, 2026: The committee appointed Michael Showstack as temporary chair by an approved motion, then reviewed operating reserves and pension and retiree healthcare trust portfolios. Operating reserves totaled just over $91 million, including approximately $5 million in money market funds, $8.3 million in certificates of deposit, $52–53 million in local government investment pools, and $23 million in fixed-income securities; the portfolio earned $842,645 in interest during the quarter. The investment consultant reviewed market performance, allocation levels, benefit-payment needs, and the pension plan’s approximately 90% funded status, with a target of full funding around 2038–2040.

The committee discussed private-equity allocations, including an investment funded November 1 in the ABS Crossover Growth Fund, a planned commitment to Capital Dynamics Fund VII, and a planned allocation to Constitution Capital Partners. Capital Dynamics reduced its fee from 1.75% to 1.5% after the trusts qualified for a lower fee tier and will refund fees retroactively. These were portfolio investment decisions, not government procurement contract awards or solicitations; no procurement activity was identified.