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Pension fund market value rises to $183.68 million; QDRO legal bill under approval threshold
Summary
Pension staff reported a plan market value of $183,682,116.93, up about $2 million since the last report, and presented a $1,138.58 legal invoice for a Qualified Domestic Relations Order adjudication that falls below the committee's $5,000 approval threshold.
Pension staff reported on the fund’s financials at the July 15 meeting, stating a market value of $183,682,116.93, an increase of roughly $2 million from the previous report.
“We're going in the right direction,” the pension staff member said when presenting the figure. Committee members offered brief remarks about general market conditions but did not contest the report.
The committee also reviewed a legal invoice from Reed and Reisch for work on a Qualified Domestic Relations Order, or QDRO, totaling $1,138.58. “Because it's below 5,000, it does not need approval,” the pension staff member said; the committee acknowledged that threshold and did not take a separate vote on the invoice. The staff member described the QDRO work as related to a divorce involving pension interests.
No additional financial actions were recorded in the transcript. The committee adjourned following the reports.
