Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
St. Mary's County LOSAP committee approves private‑credit allocation, $1 million to TPG and benefit study
Summary
The St. Mary's County LOSAP committee approved a $1 million investment into a TPG private‑credit vehicle, authorized an actuarial benefit study, and approved a set of routine rebalancing and administrative items at its Oct. 24 meeting.
The Length of Service Award Program (LOSAP) committee for St. Mary's County voted Oct. 24 to approve a benefit study and to move about $1 million from the fund’s high‑yield allocation into a private‑credit vehicle managed by TPG.
The committee also approved a recommendation from its investment adviser to amend the plan’s strategic targets—eliminating the existing high‑yield allocation in favor of private credit and adjusting equity and inflation‑sensitive positions—and completed routine rebalancing and administrative approvals, including the plan administrator report and the 2026 LOSAP meeting calendar.
The benefit study approved at the meeting reflects language in the July resolution that the LOSAP benefit amount “should be evaluated during the LOSAP actuarial valuation occurring once every two years.” Committee members approved contracting an adviser to run a separate benefits analysis in coordination with the next actuarial valuation; staff estimated the study would cost approximately $4,000 to $6,000 and be paid from the LOSAP trust.
Patrick Wing of Marquette, the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
