Authorization: BOC in 1988 approved the Pension Fund Board of Trustees. Resolution of 11/10/92 confirmed the Pension Fund Board of Trustees fiduciary responsibility and authority; Resolution of 11/24/92 expanded the Board of Trustees from three (3) members to five (5) members.
BOC action of 12/14/2004 changed the name from Cobb County Board of Commissioners Retirement Income Plan to the Cobb County Government Employees Pension Plan effective January 1, 2005.
Description: The Board of Trustees is charged with administering fully and managing financially the Pension Fund for County employees including the necessity of hiring financial and legal experts from time to time to assist with the administration of said funds; the Board has the responsibility of selecting and retaining investment managers and a custodian for all assets of the Pension Plan. The Board of Trustees is charged with the duty of investing assets of the Pension Plan in a prudent manner such that the safety of the principal funds is preserved while providing reasonable returns and, in general, avoiding speculative investments. The Board of Trustees consists of five (5) members as follows: (1) the Director of the Cobb County Human Resources Department; (2) the Finance Director of Cobb County; (3) a County Manager Representative; (4) two (2) BOC appointees. The two (2) BOC appointees, after initially staggered terms, serve three (3) year terms and serve at the pleasure of the BOC. Members of the Board of Trustees receive no compensation.
Support Services Agency Director