6/25/26 Sheriff's Office Retirement Planning Board

The St. Mary's County Sheriff's Office Retirement Planning Board held a meeting on June 25, 2026, focusing primarily on the quarterly performance report of the Sheriff's Office Retirement Plan (SORP) for Q1 2026. Marquette Associates presented detailed economic and market analyses, highlighting moderate U.S. economic growth, inflationary pressures, and the impact of geopolitical events on commodities and markets. The board reviewed asset allocations, investment returns, and private market activities, including capital calls and distributions, with a total plan value nearing $198.5 million as of mid-2026. Key procurement-related actions included approval of the Q1 performance report and authorization of recommended portfolio rebalancing, which involved trimming equity exposure, particularly in emerging markets, and reallocating funds to real assets and fixed income to maintain compliance with investment policy targets. The board also received and approved the administrator's report detailing payments to consulting and custodial service providers totaling over $50,000. The meeting concluded with commendations for a retiring board member and adjournment.