Board Meeting - Executive Director's Report

900 7th Street, NW, 2nd Floor Washington, DC 20001 dcrb.

Board Meeting - Executive Director's Report

Telephone (202) 343-3200 Facsimile (202) 566-5000 E-mail: dcrb@

EXECUTIVE DIRECTOR REPORT January 26, 2017

Activities Certification of District Contribution to Fund for FY 2018 Actuarial Experience Study DCRB Newsletter ? Police/Fire Edition

Updated Fact Sheets

Staff Change ? CFO's Office

Staffing Changes Since the Last Board Meeting Recent RetirementRelated Articles (attached)

Updates On January 12, 2017, letters were sent to Mayor Bowser and Council Chairman Mendelson certifying the amount of the District's contribution to the Teachers' Retirement Fund and the Police Officers and Fire Fighters' Retirement Fund for Fiscal Year 2018. Copies of these letters are attached for your information.

At the February Board meeting, Cavanaugh Macdonald will provide the Board with the results of the actuarial experience study, which covers the period of FY 2010 through FY 2015.

At the end of February, DCRB expects to distribute the second edition of the newsletter for police officers and firefighters. This newsletter will introduce the Board's Trustees who were elected by police officers and firefighters, and will contain articles about purchasing post-1956 military service, Social Security's Windfall Elimination Provision, and the value of Police/Fire Plan assets from FY 2009 through FY 2016. Attached for your information are Police/Fire Plan, Teachers' Plan, and Funding fact sheets that reflect information provided in the October 1, 2016 Actuarial Valuation Report. Similarly, the slides shown on the flat-screen monitors in the reception area, the Investment Department and outside my office have been updated to reflect information for FY 2016. John Henry, the District's Associate Treasury for Asset Management, has announced that he will be leaving the District to accept the position of Director or Finance for Jefferson County Alabama. His last day with the District's CFO's Office is January 27, 2017. We will miss working with him and wish him the best in his new position. Hires: None

Terminations: None

"State and Local Pension Reform Since the Financial Crisis," Center for Retirement Research at Boston College, Jean-Pierre Aubry and Caroline V. Crawford, January 2017.

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