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Board refers pension‑policy revisions to fiscal management; MCPS staff flag 85% funding and actuarial work
Summary
The Policy Management Committee on May 15 referred proposed revisions to policy GIG (Funding Retirement and Pension System) to the Fiscal Management Committee for review and moved the draft to the full Board for tentative action contingent on that review.
The Policy Management Committee on May 15 referred proposed revisions to policy GIG (Funding Retirement and Pension System) to the Fiscal Management Committee for further review and moved the item to the full Board for tentative action contingent on that review.
Why it matters: The draft clarifies governance lines between the Board of Education — responsible for providing retirement benefits — and the Board of Investment…
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