District of Columbias Office of Personnel hired Independent Fiduciary Services to study all Washington city employee retirement programs the 401(a) plan, the 457 deferred compensation plan and the defined benefit pension plans, which have $2.1 billion in total assets.
IFS also will develop a model for best practices for governing the plans, according to a letter from N. Anthony Calhoun, the citys deputy CFO and treasurer, to Mary Collins, chairman of the District of Columbia Retirement Board. The letter was made public at a June 25 DCRB meeting.