9/24/26 Sheriff's Office Retirement Planning Board

The St. Mary's County Sheriff's Office Retirement Planning Board met on September 24, 2026, to discuss investment portfolio adjustments and administrative matters related to the retirement plan. A significant portion of the meeting focused on addressing a small cap growth equity exposure gap in the plan's US equity portfolio. The board reviewed detailed analyses comparing current and potential small cap growth managers, specifically American Beacon and Federated, evaluating their investment strategies, risk profiles, fees, and historical performance. After discussion, the board approved a motion to liquidate the existing Virtus small cap core fund and reallocate approximately $1.8 million to the Federated small cap growth fund, along with adjustments to cash and fixed income allocations to maintain target portfolio balances. Additionally, the board approved the plan administrator's report, which included payments for actuarial and legal services, and adopted the 2027 meeting schedule. No public comments were made, and the meeting was adjourned following the approvals.