About

The Howard County Retirement Plan and the Howard County Police and Fire Employees' Retirement Plan are administered by committees made up of designated employees as outlined in the County Code. The committees hold joint meetings throughout the year. Below is a list of the scheduled meetings for the current calendar year.

Meeting Dates Calendar Fiscal Year 2024

February 21, 2024

January 17, 2024 

December 11, 2023

October 18, 2023

September 20, 2023

July 19, 2023

Meeting Dates Calendar Fiscal Year 2023

June 21, 2023

May 17, 2023

April 19, 2023

March 15, 2023

February 15, 2023

January 19, 2023

December 14, 2022

October 19, 2022

September 21, 2022

July 20, 2022

 

Minutes will be posted following Committee approval at the next meeting. The agenda will be available 5 business days prior to the meeting.

Public documents from the meetings are posted below.

Meeting Materials

Title

2023

Content

December 11, 2023 Meeting

NEPC Presentation

Baille Gifford Presentation

 

October 18, 2023 Meeting

NEPC September Flash Report

Unaudited Statement of Revenues and Expenses Howard County Retirement Plan

Unaudited Statement of Revenues and Expenses Howard County Police & Fire Retirement Plan

 

September 20, 2023 Meeting

NEPC Presentation

NEPC August Flash Report

Aberdeen Presentation

Neuberger Berman Presentation

 

July 19, 2023 Meeting

NEPC Presentation

NEPC June Flash Report

NEPC July Market Update

 

June 21, 2023 Meeting

NEPC Presentation

NEPC May Flash Report

NEPC June Market Update

 

May 17, 2023 Meeting

NEPC Presentation

NEPC April Flash Report

Unaudited Statement of Revenues and Expenses Howard County Retirement Plan

Unaudited Statement of Revenues and Expenses Howard County Police and Fire Employees Retirement Plan

 

April 19, 2023 Meeting

NEPC Presentation

NEPC March Flash Report

 

March 15, 2023 Meeting

NEPC Presentation

NEPC February Flash Report

Westfield Capital Management Presentation

 

February 15, 2023 Meeting

NEPC Presentation

  • Q4 2022 Total Fund Performance
  • Q3 2022 Private Markets Report
  • Asset Allocation Review
  • Asset Class Assumptions
  • 2023 Themes, Opportunities, and Views

NEPC January Flash Report

Fiduciary Training

Unaudited Statement of Revenues and Expenses Howard County Retirement Plan

Unaudited Statement of Revenues and Expenses Howard County Police and Fire Employees Retirement Plan

 

January 19, 2023 Meeting 

Title

2022

Content

December 14, 2022 Meeting 

October 19, 2022 Meeting 

September 21, 2022 Meeting 

 

July 20, 2022 Meeting 

 

June 23, 2022 Meeting

May 25, 2022 Meeting 

April 28,2022 Meeting

March 24, 2022 Meeting 

February 24, 2022 Meeting

January 27, 2022 Meeting

Title

2021

Content

December 2, 2021 Meeting

Agenda

Minutes

Clifton Larson Allen Auditors Presentation 

NEPC Presentation 

  • Q3 2021 Quarter in Review
  • Q3 Total Fund Performance
  • Q2 Private Markets Report
  • October Flash Report
  • Fee Study Review
  • Brown Capital Presentation

November 19, 2021(Special Meeting)

October 28, 2021 Meeting 

Agenda

Minutes 

Unaudited Statement of Revenues and Expenses Howard County Retirement Plan

Unaudited Statement of Revenues and Expenses Howard County Police and Fire Employees Retirement Plan

Fiscal Year 2022 Budget

NEPC Presentation

  • September Market Update
  • September Preliminary Performance
  • Private Equity Recommendation 

September 23, 2021 Meeting

Agenda

Minutes 

NEPC Presentation

  • Q2 2021 Market Environment 
  • Q2 2021 Total Fund Performance
  • Q1 2021 Private Markets Report 
  • August Preliminary Flash Report

William Blair Presentation  

July 22, 2021 Meeting

Agenda

Minutes

Governance Training 

June 24, 2021 Meeting

Agenda

Minutes 

NEPC Presentation

  • Q1 2021 Market Environment 
  • Q1 2021 Total Fund Performance
  • Q4 2020 Private Markets Report 
  • May Flash Report 

High Yield Manager Recommendation

Artisan Presentation

NEPC Howard County Rebalancing Exhibit

 

May 27, 2021 Meeting

 

Agenda

Minutes

Unaudited Statement of Revenues and Expenses Howard County Retirement Plan

Unaudited Statement of Revenues and Expenses Howard County Police and Fire Employees’ Retirement Plan

NEPC Presentation

  • April's Flash Report 
  • Unfavorable News Committee
  • Private Equity Pacing and Recommendation

 

April 29, 2021 Meeting

Agenda

Minutes

NEPC Presentation

  • March Flash Report 
  • Correlation & Stochastic Analysis
  • High Yield Search Book

Proposed Investment Policy Statement Changes

Fiduciary Training

 

March 25, 2021 Meeting

Agenda

Minutes

Retiree Cost of Living (COLA) Mem

NEPC Presentation 

  • Real Asset Portfolio Review 
  • February Flash Report

February 25, 2021 Meeting

January 28, 2021 Meeting

Title

2020

Content

December 3, 2020 Meeting

  • Clifton Larsen Allen Audit Presentation
  • Clifton Larsen Allen Howard County Retirement Plan Audit Letter
  • Clifton Larsen Allen Howard County Retirement Plan Findings
  • Howard County Retirement Plan Fiscal Year 2020 Audit
  • Clifton Larsen Allen Howard County Police and Fire Employees' Retirement Plan Audit Letter
  • Clifton Larsen Allen Howard County Police and Fire Employees' Retirement Plan Findings
  • Howard County Police and Fire Employees' Retirement Plan Fiscal Year 2020 Audit
  • NEPC Presentation

 

October 29, 2020 Meeting

  • Unaudited Statement of Revenues and Expenses Howard County Retirement Plan
  • Unaudited Statement of Revenues and Expenses Howard County Police and Fire Employees Retirement Plan
  • Fiscal Year 2021 Budget
  • NEPC Presentation

 

September 24, 2020 Meeting

  • NEPC Presentation

 

July 30, 2020 Meeting

 

June 25, 2020 Meeting

  • NEPC Presentation

 

May 28, 2020 Meeting

  • Unaudited Statement of Revenues and Expenses Howard County Retirement Plan
  • Unaudited Statement of Revenues and Expenses Howard County Police and Fire Employees Retirement Plan
  • NEPC Presentation

 

April 30, 2020 Meeting

  • NEPC Presentation
  • 2020 Retiree COLA Memo
  • CARES Act Memo

 

February 27, 2020 Meeting

  • Unaudited Statement of Revenues and Expenses Howard County Retirement Plan
  • Unaudited Statement of Revenues and Expenses Howard County Police and Fire Employees' Retirement Plan
  • NEPC Presentation

 

January 23, 2020 Meeting

Title

2019

Content

December 5, 2019 Meeting

  • Clifton Larson Allen Audit Presentation
  • Clifton Larson Allen Howard County Retirement Plan Audit Letter
  • Clifton Larson Allen Howard County Retirement Plan Audit Findings
  • Howard County Retirement Plan Fiscal Year 2019 Audit
  • Clifton Larson Allen Howard County Police and Fire Employees' Retirement Plan Audit Letter
  • Clifton Larson Allen Howard County Police and Fire Employees' Retirement Plan Audit Findings
  • Howard County Police and Fire Employees' Retirement Plan Fiscal Year 2019 Audit
  • NEPC Presentation

 

October 24, 2019 Meeting

  • Unaudited Statement of Revenues and Expenses Howard County Retirement Plan 
  • Unaudited Statement of Revenues and Expenses Howard County Police and Fire Employees' Retirement Plan
  • Retirement Plan Fiscal Year Ending 2020 Budget
  • NEPC September Flash Report
  • NEPC Presentation
  • Colchester Global Investors Presentation

 

September 26, 2019 Meeting

  • NEPC Presentation

 

July 25, 2019 Meeting

  • NEPC Presentation: Passive Provider Overview and June Performance

 

June 27, 2019 Meeting

  • NEPC Presentation: Manager Fee Review, Hedge Fund Review and May Performance
  • NEPC Absolute Return Fixed Income Manager Search
  • Howard County Retirement Plan: Summary of updates to disability procedures

 

May 31, 2019 Meeting

  • NEPC Investment Performance Review March 31, 2019
  • Flash Report April 2019
  • Baillie Gifford Active Management Presentation
  • Baillie Gifford EAFE Fund Presentation
  • Unaudited Statement of Revenues and Expenses Howard County Retirement Plan
  • Unaudited Statement of Revenues and Expenses Howard County Police and Fire Employees' Retirement Plan

 

April 25, 2019 Meeting

  • 2019 Asset Allocation Review NEPC
  • Flash Report March 2019
  • Howard County Investment Policy Statement Redline Draft

 

March 28, 2019 Meeting

  • Retiree COLA Memo 2019
  • Dodge and Cox Presentation
  • Pimco Presentation
  • NEPC Presentation

 

February 28, 2019 Meeting

  • Invesco Presentation
  • AndCo Investment Performance Review December 31, 2018
  • Unaudited Statement of Revenues and Expenses Howard County Retirement Plan
  • Unaudited Statement of Revenues and Expenses Howard County Police and Fire Employees' Retirement Plan

 

January 31, 2019 Meeting

  • Howard County Retirement Plan July 1, 2018 Actuarial Valuation Results
  • Howard County Police & Fire Retirement July 1, 2018 Actuarial Valuation Results
  • Howard County Retirement Plan Disability Procedures Update
  • Investment Monitoring Policy
Title

2018

Content

November 30, 2018 Meeting

  • Howard County Retirement Plan FY18 Plan Audit
  • Howard County Police & Fire Retirement Plan FY18 Plan Audit
  • AndCo Investment Performance Review September 30, 2018
  • Liquidity Review
  • Risk Analysis Report

 

October 25, 2018 Meeting

 

September 20, 2018 Meeting

  • AndCo Presentation
  • Bolton 2018 Experience Study for the Howard County Retirement Plan
  • Bolton 2018 Experience Study for the Howard County Police and Fire Employees' Retirement Plan.
  • Summit Strategies Investment Performance Review June 30, 2018
  • Summit Strategies Economic & Capital Market Review June 30, 2018

 

July 25, 2018 Meeting

  • Summit Strategies Private Equity Update July 2018

 

June 28, 2018 Meeting

  • CB 57-2018 Prefile

 

May 31, 2018 Meeting

  • Summit Strategies Investment Performance Review March 31, 2018
  • Summit Strategies Economic & Capital Market Review March 31, 2018
  • Summit Strategies Emerging Market and Real Assets Search
  • Unaudited Statement of Revenues and Expenses Howard County Retirement Plan
  • Unaudited Statement of Revenues and Expenses Howard County Police & Fire Employees' Retirement Plan

 

April 26, 2018 Meeting

  • Emerging Market Education
  • Retiree COLA memo
  • Fiduciary Training

 

March 29, 2018 Meeting

  • Dimensional Fund Advisors Presentation
  • Mondrian Presentation
  • Robbins Geller Rudman & Dowd Presentation
  • Retiree COLA Analysis (continued)

 

February 22, 2018 Meeting

  • Unaudited Statement of Revenues and Expenses Howard County Retirement Plan
  • Unaudited Statement of Revenues and Expenses Howard County Police and Fire Employees’ Retirement Plan
  • ICM Presentation
  • Colchester Presentation
  • Summit Strategies Investment Performance Review December 31, 2017 
  • Summit Strategies Economic & Capital Market Review December 31, 2017
  • Retiree COLA analysis/Change in CPI table
  • Disability Review Board Procedures Update (HCRP)
  • House Bill 971 and Related News Article
  • Previously Closed Meeting Minutes

 

January 25, 2018 Meeting

  • Howard County Retirement Plan Actuarial Valuation as of July 1, 2017 (complete report)
  • Howard County Retirement Plan Valuation Results Summary
  • Howard County Police/Fire Retirement Plan Actuarial Valuation as of July 1, 207 (complete report)
  • Howard County Police/Fire Retirement Plan Valuation Results Summary
Title

2017

Content

December 1, 2017 Meeting

  • Summit Strategies Investment Performance Review September 30, 2017
  • Summit Strategies Economic & Capital Market Review September 30, 2017
  • Annual Liquidity Review 2017
  • State Street Global Advisors Presentation
  • Whiteford, Taylor & Preston International Growth Equity Manager Review Memo
  • Whiteford, Taylor and Preston UBIT Memo

 

October 26, 2017 Meeting

  • William Blair Presentation
  • Brown Capital Management Presentation
  • Unaudited Statement of Revenues and Expenses
  • Updated QDRO Procedures for the Howard County Police and Fire Employees' Retirement Plan

 

September 28, 2017 Meeting

  • Fidelity Investments Presentation
  • Summit Strategies Investment Performance Review June 30, 2017
  • Summit Strategies Private Equity Update
  • Summit Strategies Risk Analysis
  • Summit Strategies Monthly Flash Report July 31, 2017

 

July 21, 2017 Meeting

  • Pension Oversight Commission Annual Report
  • Summit Strategies Due Diligence Process
  • Summit Strategies Due Diligence Process II
  • Summit Strategies Emerging Markets Debt Manager Search April 2015 (Due Diligence Example)
  • Summit Strategies June Flash Report

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