(a) The Advisory Committee shall:

(1) Advise the Office of the Chief Financial Officer regarding:

(A) General administration of the Fund;

(B) Fund investment objectives and practices;

(C) Fund portfolio composition and asset allocation;

(D) Authorized Fund investments;

(E) The creation of relevant assumptions necessary for administration of the Fund;

(F) Review the selection of other post-employment benefits consultants and other professionals, including:

(i) Actuaries;

(ii) Accountants:

(iii) Financial advisors;

(iv) Investment managers; and

(v) Lawyers;

(2) Review the policies and practices of the Office of the Chief Financial Officer with regard to the Fund and provide recommendations regarding best practices;

(3) Review and critique the investment performance of the Fund; and

(4) Advise the Office of the Chief Financial Officer regarding the potential for collaboration or consolidation with the District of Columbia Retirement Board in the management of the Fund in order to promote efficiency.

(b) By February 1st of each fiscal year, the Advisory Committee shall transmit written recommendations to the Chief Financial Officer for inclusion in the annual report for the Fund pursuant to § 1-621.09f(a)(2)(C).

(Mar. 3, 1979, D.C. Law 2-139, § 2153; as added Dec. 17, 2014, D.C. Law 20-151, § 2(d), 61 DCR 8893; Oct. 30, 2018, D.C. Law 22-168, § 1033(f), 65 DCR 9388.)

For temporary (90 days) amendment of this section, see § 1033(f) of Fiscal Year 2019 Budget Support Congressional Review Emergency Act of 2018 (D.C. Act 22-458, Oct. 3, 2018, 65 DCR 11212).

For temporary (90 days) amendment of this section, see § 1033(f) of Fiscal Year 2019 Budget Support Emergency Act of 2018 (D.C. Act 22-434, July 30, 2018, 65 DCR 8200).