Retirement Board

Purpose

To manage and control the retirement funds for District police officers, firefighters, teachers, and judges. To promulgate rules and regulations; issue directives for administration and transaction of business and control of funds; engage services of investment counsel(s); and appoint staff. . Members must file personal financial disclosure statements. Thirteen members: three appointed by the Mayor, at least two of whom shall have professional experience in banking, insurance of the investment industry; three appointed by Council; one retired judge appointed by the joint committee on judicial administration, and six members elected by their peers (one retired and one present member or officer from the Metropolitan Police Dept., the DC Fire Dept. and the DC Public Schools). No member may be a candidate for elective office or have a personal interest in any transaction involving the funds. A representative of the Offices of Budget of Financial Management is a non-voting member. The board elects its own chairperson annually.

Licensed - Yes

Paid stipend or salary - No