Frederick County pension plans report $1.253 billion in assets after IFM funding; no rebalancing recommended

Marquette Associates reported that total plan assets for the Frederick County Employees Pension Plan stood at $1,253,290,671 as of March 6, 2026, reflecting a modest month‑over‑month decline that the consultant attributed to recent movements in U.S. and non‑U.S. equities. Patrick Wing informed the Committee that the previously approved commitment to IFM Infrastructure has been fully funded and that Wilmington Trust completed an internal cash transfer from the Uniform Plan to the Non‑Uniform Plan to support anticipated funding needs, producing a temporary cash overweight.

Given the limited magnitude of the cash and valuation changes following IFM funding and the internal transfer, Marquette recommended no immediate rebalancing actions. The consultant said initial valuation updates reflecting the IFM funding are expected in the next monthly report.

There were no public comments during the meeting. Chair Emily C. Fiftal noted that the Committee's next regular meeting will be held in person at Winchester Hall on Tuesday, April 8, 2026. A motion to adjourn was made by Ira Redman, seconded by Tyler Muntz, and passed unanimously; the meeting adjourned at 2:34 PM. The meeting roster lists Angela Baldwin as Recording Secretary; the minutes were signed "Respectfully submitted" by Shanna Gibbons, also identified as Recording Secretary in the transcript.