The Investment Committee for the General Retirement System of the City of Detroit (GRSD) was created effective as of the Plan of Adjustment, and exists for the purpose of making recommendations to the Board of Trustees with respect to certain investment management matters relating to the Retirement System. The Investment Committee shall serve in a fiduciary capacity with respect to the investment management of Retirement System assets, determination of the investment return assumptions, Board compliance with provisions of the governing documents of the Retirement System, and operate in compliance with the Public Employee Retirement System Investment Act. The Investment Committee consists of seven members:
- Five independent, non-member, subject matter experts
- One retiree who also serves on the Board of Trustees
- One active employee member who also serves on the Board of Trustees
The committee members are designated by a collection of representatives of the State of Michigan, the City of Detroit, and the Board of Trustees, in consultation with the Foundation for Detroit’s Future. The Investment Committee holds regular meetings, not less frequently than once every other month, and shall hold special meetings as necessary. All meetings of the Committee and records of proceedings are public and subject to the Michigan Open Meetings Act. Additional information about the GRSD Investment Committee and related governance are available in the GRSD Plan Document.