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Police and Fire Retirement Fund reports nearly $21.8 million month-to-month decline in plan value
Summary
At its March 12 meeting the Lexington Fayette Urban County Police and Fire Retirement Fund board accepted the treasurer's report showing the plan fell from roughly $1.0009 billion to $979.1 million and approved routine minutes and disbursements.
Chad, the fund treasurer, told the Lexington Fayette Urban County Police and Fire Retirement Fund board at its March 12 meeting that the plan's market value as of the previous morning was $979,068,266.81, down from $1,000,890,625.23 the prior month.
The value change was part of the treasurer's written packet that included fiduciary net-asset comparisons for December and January, a bank statement and a letter of transmittal. The board moved to accept the treasurer's report and to approve the transfer letter; the motion passed by voice vote.
The board also approved the minutes for February and voted to approve the March disbursements listed on the agenda. Each of those routine items passed on voice votes with no recorded opposition.
The decreases in plan value were reported as part of the regular monthly fiduciary review; board members did not request additional investment action during the meeting. The treasurer's packet remains the official record of the month-to-month asset comparisons.
The board adjourned after finishing the scheduled agenda.
