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LOSAP administrator reports $8,311.65 in quarterly administrative payments; $250,000 contribution made
Summary
Plan administrator reported $8,311.65 in administrative payments for quarterly services, confirmed the third‑quarter contribution of $250,000 and set the next LOSAP meeting for April 25, 2025; trustees approved the administrator report.
Joy Sapp, St. Mary's County plan administrator, reported quarterly administrative payments of $8,311.65 covering services to Principal and Marquette and said the third‑quarter contribution of $250,000 was made on Feb. 21. Sapp said the annual contribution budget is $1,000,000 and announced the next LOSAP meeting for April 25, 2025.
Catherine Pratsen moved to approve the administrator report as presented; John Walters seconded. Trustees approved the report by voice vote and the chair recorded the motion as carried.
The plan administrator's summary was limited to the administrative payments, contribution timing and the next meeting date; trustees did not direct additional administrative actions during the item.
