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Budget and Audit

Committee members consist of four (4) Trustees, the composition of which shall include, at a minimum, all the officers of the Board and the individual serving as Trustee under section 2(b) (2) of the Fund’s governing statute. It also includes one (1) alternate member.

Reviews and monitors operational and administrative Fund expenditures on an ongoing basis and shall formally meet not less than quarterly. Recommends to the Board a working budget for each fiscal year no later than the June meeting immediately preceding the beginning of the fiscal year, which will remain in effect until a new budget is adopted.

Investment

Committee members consist of the whole Board of Trustees.​

Has the authority to establish the Fund’s investment policy statement including the setting of appropriate asset allocation targets and benchmarks for Fund performance, oversee the implementation of investment strategies and ensure compliance thereto, authorize investment options, select investment managers, and monitor the Fund’s financial performance. Fund staff shall be responsible for implementing the Committee’s investment decisions.

Personnel and Procedures

Committee members consist of the whole Board of Trustees.

Responsible for matters concerning the Fund’s employees, changes in policies in the working of the Fund, and constructing procedures for the Fund’s adherence to laws which apply to the Fund.

Pension Benefits

Committee members consist of seven (7) Trustees.

Delegated the authority by the Board to act upon all applications, requests and/or matters regarding the granting, continuation, or discontinuation of pension benefits and of entrance or re-admission into the Fund; to review and act upon all applications for service, disability, and deferred retirements, including those service retirements represented by applications for participation in the Deferred Retirement Option Plan (DROP); and to receive and consider any and all accompanying documents, reports, or addenda thereto. Unless otherwise appealed under section IV, 5.10 of these procedures, such actions of this Committee shall be final and noted at the next regular Board meeting.

Memorial

Committee members consist of three (3) Trustees.

Responsible for ensuring that the memorial site benches, pavers, monuments, etc. are reserved for acknowledgement of firefighters and their families.

Legislative

Committee members consist of the whole Board of Trustees.

Responsible for setting the Fund’s legislative agenda during legislative sessions and monitoring state and federal legislation that might affect public pension funds

Committee Responsibilities

The Houston Firefighters’ Relief and Retirement Fund Board has six (6) standing Committees. The Committee members and alternates are appointed by the Chairman by the end of March or if a Committee is re-comprised. The Chairman may appoint a Committee Chairman or serve as Committee Chairman him/herself. Except for the Pension Benefits Committee, the Chairman may appoint an "alternate" for each Committee, who may attend the meeting in the absence of a regular Committee member. Alternate members have full voting authority only when in attendance for an absent Committee member. A quorum shall consist of a simple majority of the trustees assigned to a Committee to carry out business.

 The Board has six (6) standing Committees and each standing Committee has its corresponding members and responsibilities.

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