City of Baltimore - File #: 09-0099R

• File #: 09-0099R
• Version: 0
• Name: Investigative Hearing - Boards of the Baltimore City Fire and Police Employees' Retirement System and the Employees' Retirement System - Investment Policy Guidelines
• Type: City Council Resolution
• Status: Adopted
• File created: 1/12/2009
• In control: Taxation, Finance and Economic Development Committee
• Final action: 4/20/2009
• Title: Investigative Hearing - Boards of the Baltimore City Fire and Police Employees' Retirement System and the Employees' Retirement System - Investment Policy Guidelines FOR the purpose of requesting the Executive Directors and a representative of the Boards of the Fire and Police Employees' Retirement System and the Employees' Retirement System (ERS), to brief the Council on an overview of the Boards' investment policy guidelines as well as efforts in allowing more local, minority, and women businesses to manage a portion of these funds.
• Sponsors: Stephanie President Rawlings-Blake, Sharon Green Middleton, Bill Henry, Robert Curran, William H. Cole, IV, President Young, Belinda Conaway, Warren Branch, James B. Kraft, Mary Pat Clarke, Agnes Welch, Edward Reisinger
• Indexes: Employees Retirement System, Fire & Police Retirement Systems, Resolution

Date	Ver.	Action By	Action	Result
4/20/2009	0	Taxation, Finance and Economic Development Committee	Recommended Favorably
4/20/2009	0	City Council	Adopted
2/23/2009	0	Taxation, Finance and Economic Development Committee	Scheduled for a Public Hearing
1/15/2009	0	The City Council	Referred for a Report
1/15/2009	0	The City Council	Introduced
1/12/2009	0	City Council	Introduced
1/12/2009	0	City Council

* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*

CITY OF BALTIMORE
COUNCIL BILL R
(Resolution)

Introduced by: President Rawlings - Blake

A RESOLUTION ENTITLED

A COUNCIL RESOLUTION concerning
Title
Investigative Hearing - Boards of the Baltimore City Fire and Police Employees' Retirement System and the Employees' Retirement System - Investment Policy Guidelines

FOR the purpose of requesting the Executive Directors and a representative of the Boards of the Fire and Police Employees' Retirement System and the Employees' Retirement System (ERS), to brief the Council on an overview of the Boards' investment policy guidelines as well as efforts in allowing more local, minority, and women businesses to manage a portion of these funds.
Body
Recitals

The volatility of our nation's financial markets and an uncertain economic outlook have cost pension funds in localities and states across this country hundreds of billions of dollars. Additionally, a massive fraud perpetrated against investment funds has had ripple effects on retirees everywhere, including right here in Baltimore. Therefore, this Body respectfully requests a briefing by the Boards in charge of our employees' pensions. Specifically, we ask to be provided an overview of what the investment policy guidelines are of how these crucial funds are invested.

Furthermore, it should be the stated goal of the City that our practices and standards for such investments are consistent with the City's other commitme...