District of Columbia’s 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 city’s 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.
