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Board Committees


On September 2, 2003, the Board approved three standing committees to carry out the business of the Board:


On October 7, 2008, the Audit Committee was established by Board action in response to private sector developments with respect to audit committees as required by the Sarbanes-Oxley legislation and a Recommended Practice updated by the Government Finance Officer’s Association of the United States and Canada, and a recommendation by independent auditors for the Employees' Retirement System (ERS).

Investment Monitoring Group Committee


The objective of the Investment Monitoring Group (IMG) is to review and monitor the investment performance of the ERS' assets and make recommendations to the Board of Trustees.

The IMG has the following responsibilities:

  • Recommend policies and guidelines for the investment of plan assets.
  • Monitor compliance with policies and guidelines approved by the Board.
  • Provide a system for monitoring the returns on plan assets and to review the performance of these assets.
  • Review and evaluate each investment manager on a quarterly basis, in accordance with the Manager Monitoring Policy.
  • Monitor and evaluate the relationship with the ERS' investment consultant.
  • Report and make recommendations to the Board.
  • Perform investment related assignments as directed by the Board.
  • Review guideline violations and make recommendations to the Board.
  • Conduct in-person performance reviews every other year with all investment managers.
  • Review annual performance of each manager with the ERS' investment consultant.
  • Approve Requests for Proposals.
  • Approve transition strategies and selection of transition managers as recommended by the ERS' investment consultant.
Committee Members
Patricia Colihan-Barney, CPA, Committee Chairman
Elizabeth M. Hewlett, Chairman, Board of Trustees

Gerald R. Cichy, Vice Chairman, Board of Trustees
Khald Afzal
Howard Brown
Pamela F. Gogol
Sheila Morgan-Johnson
Barbara Walsh
Joseph C. Zimmerman, CPA

Administration & Personnel Oversight Committee


The Administration & Personnel Oversight Committee is responsible for overseeing any/and all personnel issues related to the ERS staff and Administrator which includes resolving employee appeals, ensuring staff contracts are current, monitoring completion of staff evaluations, and reviewing any cash awards granted by the Administrator.  The committee is responsible for administration oversight in the following areas:  fiduciary liability insurance renewal, the proposed budget, Board administrative policies and procedures, and other assignments as directed by the Board of Trustees.
  

Committee Members
Barbara Walsh, Committee Chairman
Elizabeth M. Hewlett, Chairman, Board of Trustees
Gerald R. Cichy, Vice Chairman, Board of Trustees
Patricia Colihan-Barney, CPA
Howard Brown
Alicia Hart
Amy Millar

Member Education Committee


The Member Education Committee is responsible for overseeing the design of LifePlanning Programs, as conducted by the ERS Staff, to encourage and promote pre- and post-retirement planning for all members, active and retired.  The Member Education Programs include: the ERS LifeTimes page in Update, resource references, and On-Site and Full-Day workshops.  The Member Education Committee is also responsible for ongoing educational training for the Board and monitoring the evolution of technology that may benefit members in the areas of understanding and planning for retirement.
 
Committee Members
Khalid Afzal, Committee Chairman
Elizabeth M. Hewlett, Chairman, Board of Trustees

Gerald R. Cichy, Vice Chairman, Board of Trustees

Audit Committee


The Audit Committee is responsible for providing independent review and oversight of the ERS’ financial reporting processes, internal controls and independent auditors.  The Audit Committee is responsible for the appointment, compensation, retention, and oversight of the work of any independent accountant; shall establish procedures for the receipt, retention and treatment of complaints; and shall present an annual report to the Board describing how it met its responsibilities. 

Committee Members
Barbara Walsh, Committee Chairman
Patricia Colihan-Barney, CPA
Howard Brown