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Board accepts administrator's report; March invoices total $12,293
Summary
At the March 26 meeting the plan administrator reported March expenses — consulting and benefit‑portal fees plus custody and transaction charges — totaling $12,293; the board accepted the report by voice vote and set the next meeting for April 23, 2026.
The St. Mary's County Sheriff's Office Retirement Plan Board accepted the plan administrator's report on March 26, which listed invoices and fees for March totaling $12,293.
Tracy McPherson, acting human resources director and plan administrator, reported a Boomershine Consulting Group invoice for $1,050 for benefit calculations and a $1,250 payment for the benefit portal (payment 8 of 10), for a subtotal of $2,300. She said Principal Custody Solutions charged $11,524.57 for asset administration; miscellaneous transaction fees were $709 and an additional transaction fee was $60. McPherson stated that the Principal custody fee is paid out of the principal account.
A motion to accept the administrator's report was made, seconded and approved by voice vote. McPherson noted the board's next meeting is scheduled for April 23, 2026. There were no public comments and the board adjourned following the meeting.
