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Independent review finds no deficiencies, urges tighter policy language for El Paso City Employees Retirement Trust
Summary
An independent review by RVK found no deficiencies in the trust's investment governance but recommended clarifying rebalancing authority, fee-review cadence, conflict-of-interest language and private-equity benchmark alignment; the board accepted the report and referred recommendations to the investment committee.
Paige Blazer, a consultant with RVK Incorporated, told the El Paso City Employees Retirement Trust board that RVK's independent governance review found "zero deficiencies" but identified several areas where policy language could be tightened to reduce ambiguity and strengthen long-term governance. The board voted to accept the review and referred the consultants' recommendations to the investment committee.
The report, prepared pursuant to Section 802.109 of the Texas Government Code, evaluated five statutory areas: investment policy, asset allocation, fees, governance processes, and investment manager selection and monitoring. "We did find zero deficiencies as we went…
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