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Fulton County Council approves Baird to manage sheriff's retirement trust
Summary
The council unanimously approved hiring Baird to handle investment management and trustee duties for the sheriff's retirement plan after a brief presentation from Chris Calloway of Baird describing the firm's 30‑year track record and combined services offering.
The Fulton County Council unanimously approved a change in trustee and investment manager for the sheriff's retirement fund on Feb. 17, following a presentation by Chris Calloway of Baird.
"My name is Chris Calloway. I work with Baird," Calloway said during the presentation, and described Baird as "one of those few companies that could do both the investment management and the trust services." He told council members the firm has a more-than-30-year track record and that over that period it has "consistently not only outperform[ed] the actuarial assumption of your plan, but the broad market as a whole."
The council chair moved to approve Baird as the new trustee for the sheriff's department retirement fund, the motion was seconded and the vote was unanimous.
The change was initiated by the county merit board and the sheriff's department after a months-long due diligence process comparing vendors, Calloway said; the trustee change requires council approval because it affects who issues checks and handles tax withholding for retiree payments.
The council noted that the merit board had interviewed several candidates and asked the county to sign any required trustee paperwork following the vote. The decision clears the way for Baird to begin trustee functions for the sheriff's retirement plan.
