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Board approves first fee increase in 21 years; quarterly report shows strong returns and $11.43M year‑end balance
Summary
Trustees approved a proposed fee schedule increase that took effect Jan. 1 and reviewed the quarter- and fiscal-year investment results. The investment consultant reported a fiscal-year return of about 19.82% and a year-end market value of $11,427,954.42; managers’ fees and basis-point examples were discussed.
The Firefighter Pension Board on Jan. 14 voted to adopt a new fee schedule proposed by the plan’s administrator—the first fee increase in 21 years—and reviewed the quarterly investment report for the period ending Sept. 30, 2024.
Jeremy (investment consultant) and Jermaine briefed trustees on the fee change, which was presented as a percentage-of-assets schedule and took effect Jan. 1. Using Sept. 30 asset figures as an example, the consultant showed that under the old schedule a typical quarterly fee would have been about $5,035; under…
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