The SPTRFA Board of Trustees has several committees to take care of the daily business of the Board. The committee meetings are not open to the public, but concerns can be addressed to the committee members.

Annuities and Refund Committee

The committee consists of two other members of the Board and is tasked with the review and sign off on all member benefit payment schedules as well as examining and developing recommendations for the Board to consider in member related areas as such disability retirement, refunds, and considering matters such as procedures for improved handling of benefits to alternate payees, survivors and beneficiaries.

Audit Committee

The committee, consisting of two other Board members, currently is engaged primarily in the review and oversight of procedures undertaken by staff involving the calculation of member benefits and also tasked with making policy recommendations to the Board aimed at resolving interpretive issues within the Board’s By-laws and operating regulations as they impact the membership. The Board has authorized the addition of a volunteer non-Board member accounting professional to the committee.

Executive Committee

The committee, comprising the Board’s officers and two other members, is empowered to act on behalf of the Board on time-sensitive issues that surface between scheduled meetings of the full Board, upon which the Executive Committee will report on its actions at the next session of the full Board.

Investment Committee

The committee consists of all members of the Board and is tasked with reviewing, modifying and ensuring conformity with the Fund’s Investment Policy, as well as issues of setting asset allocation, oversight of external managers, engaging with investment staff and consultant, and examining investment strategies to best ensure the portfolio achieves its long-term goals within its established risk parameters.

Personnel Committee

The committee, comprising four Board members, deals with staffing related matters, develops policies for Board consideration on certain administrative and office matters, considers staff evaluations and approves salary adjustments, oversees the Board’s Personnel Policy.