Montgomery County Council Press Releases & Statements

Montgomery County Council to Hold Public Hearing on Tuesday, Feb. 25, on Board of Investment Trustees Issues

 
  • Release ID: 14-037
  • Release Date: 2/4/2014
  • Contact: Neil Greenberger 240-777-7939 or Delphine Harriston240-777-7931
  • From: Council Office
ROCKVILLE, Md., February 3, 2014—The Montgomery County Council will hold a public hearing at 1:30 p.m. on Tuesday, Feb. 25, on Expedited Bill 15-14 that eliminates some of the restrictions on investments made by the County’s Board of Investment Trustees and the Consolidated Retiree Health Benefits Board of Trustees.

Expedited Bill 15-14 would repeal the requirement that investments made by these Boards retain U.S. indicia of ownership and repeal the prohibition on investments in County related bonds. The bill also would repeal the restriction on real estate investments in Montgomery County by the Consolidated Retiree Health Benefits Board of Trustees. The bill would generally amend the law regarding the Employees' Retirement System, the Retirement Savings Plan, the Deferred Compensation Plan and the Consolidated Retiree Health Benefits Trust Fund.

The public hearing will be held in the Third Floor Hearing Room of the Council Office Building, which is located at 100 Maryland Avenue in Rockville. The hearing will be televised live by County Cable Montgomery (CCM—Cable Channel 6 on Comcast and RCN, Channel 30 on Verizon) and can be viewed via streaming through the County website at www.montgomerycountymd.gov.

Those interested in testifying at the public hearing can start signing up on Thursday, Feb. 6, by calling 240-777-7803. Call 240-777-7910 to obtain copies of the bill or go to www.montgomerycountymd.gov/council.

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