The Board of Trustees (“Board”) selects professional investment managers who invest the assets of the ERS. The Board sets the investment policy and guidelines as well as oversees the investment managers to ensure that the investment meets the objectives of the ERS. The ERS’ custodian bank holds plan assets for safekeeping and serves as the official book and record for investment transactions and valuations. ERS staff accounts for all the assets and payments of the ERS. An independent accounting firm audits the ERS every year. The ERS has received the highest possible evaluation for its accounting and internal controls.
The Board hires consultants and professional service providers to support effective and efficient administration of the ERS.
SB and Company, LLC
The Northern Trust Company – Custodian Bank
Bank of America
Wilshire Advisors, Inc.
The Maryland-National Capital Park & Planning Commission – Office of General Counsel