4/23/26 Sherrif's Office Retirement Planning Commission

The St. Mary's County Sheriff's Office Retirement Planning Commission held a meeting on April 23, 2026, focusing primarily on investment performance updates and portfolio management for the retirement plan. Marquette Associates provided a detailed review of private market investments, quarterly returns, and recent portfolio rebalancing activities. The commission discussed positive private market gains, quarterly investment returns slightly below benchmarks, and the impact of market pricing on non-US equity funds. A key procurement-related action was the approval of a rebalancing recommendation to trim $1.5 million from the Fidelity Emerging Markets index fund and move those funds into money market accounts to prepare for upcoming capital calls, including a $3.5 million commitment to Brookfield infrastructure. Additionally, the administrator reported on recent invoices totaling $23,181 for fiduciary liability insurance renewal and professional services, which were approved by the commission. The next meeting was scheduled for June 25, 2026.