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Chester County Retirement Board reviews quarter, hears fee concerns and honors Controller Reif
Summary
At its Nov. 12 meeting the Chester County Employees Retirement Board reviewed quarterly performance, heard a Penn Township resident raise concerns about manager fees and the possibility of a 2026 COLA, and publicly thanked Controller Margaret Reif in her last meeting.
At the Nov. 12 meeting of the Chester County Employees Retirement Board, trustees received a detailed performance update, fielded a public comment about manager fees and retiree support, and heard thanks for Controller Margaret Reif in her final meeting.
An investment presenter walked trustees through macroeconomic context and fund performance, noting the system was up 4.8% for the quarter (4.7% net of fees) and that year‑to‑date and multi‑year returns remained positive. During public comment, Jim D’Alessio of Penn Township observed that several managers’ quarterly fees ranged from about $10,000 up to $80,000 and estimated annual manager fees around $1.3 million; he asked whether the board could expand retiree insurance or consider a 2026 cost‑of‑living adjustment.
Board members acknowledged the comment and requested staff follow up. Trustees also publicly thanked Controller Margaret Reif for her service; members noted this was her last retirement board meeting and expressed appreciation. The meeting concluded after a set of motions implementing investment changes and the board adjourned.
