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Home My WebLink About2026_08-20_Retirement Board Agenda_Meeting No_303a a — WASHINGTON COUNTY PenmylvaWo RETIREMENT BOARD MEETING August 20, 2026 1. Opening of Meeting. 2. Approval of Minutes No. 302 dated May 21, 2026 3. Public Comment. 4. Treasurer's Report: a. Bank Reconciliations — April 2026 — June 2026 5. Requisitions: a. Requisitions — May 2026 — July 2026 6. Old Business. 7. New Business. a. Portfolio Presentation: Lee Martin, Marquette Associates. b. Actuarial Review: David Reichert, Foster & Foster. 8. Adjournment. Minute No. 302 May 21, 2026 The quarterly meeting of the Washington County Retirement Board was held at approximately 10:30 a.m. on Thursday, May 21, 2026, in the public meeting room with the following members being present: Commissioners Nick Sherman, Larry Maggi and Electra Janis; Controller Heather Sheatler; Treasurer Tom Flickinger. Also present; Solicitor Michael Cruny; Public Relations Director Nicole Ford; Chief Clerk Cindy Griffin; Administrative Assistant Debbie Corson; Executive Secretaries Casey Grealish and Randi Marodi and Lee Martin, Ph.D. representing Marquette Associates. APPROVAL OF MINUTES Mr. Sherman entered a motion to approve meeting Minutes 301, dated February 19, 2026. The motion was moved by Ms. Janis and seconded by Mr. Maggi that the above -mentioned minutes be approved as written. No discussion followed. Roll call vote taken: Ms. Sheader — YES; Mr. Flickinger — YES; Mr. Maggi — YES; Ms. Janis — YES; Mr. Sherman — YES Motion passed unanimously. PUBLIC COMMENT None. TREASURER'S REPORT Mr. Flickinger made a motion to accept the presented reconciliations of January 2026 to March 2026. Motion was accepted and moved by Mr. Flickinger and seconded by Mrs. Janis. Roll call vote taken: Ms. Sheatler — YES; Mr. Flickinger — YES; Mr. Maggi — YES; Ms. Janis — YES; Mr. Sherman — YES Motion passed unanimously. RETIREMENT ALLOWANCE REPORT Bank Balance as of January 1, 2026 $ 146,282.35 Deposits to Checking Account -0- Transfers In -0- ACH Credit $311,570.43 Other Credits $737,929.67 Less: Cancelled Checks (58,807.38) Less: Other Debits (39,121.87) Less: ACH Debits (1,021,333.81) Funds Transfers Out (0.00) Bank Balance as of January 31, 2026 $76,519.39 Outstanding MUMS Debits ($115,971.01) Adjusted Bank Balance $53,266.03 Less: Outstanding Checks/Ret Check Run ($245,756.43) Reconciled Balance as of January 31, 2026 Bank Balance as of February 1, 2026 $ 76,519.39 Deposits to Checking Account -0- Transfers In -0- ACH Credit $312,293.30 Other Credits $914,157.92 Less: Cancelled Checks (86,437.44) Less: Other Debits (73,301.60) Less: ACH Debits (1,038,797.95) Funds Transfers Out -0- Bank Balance as of February 28, 2026 $ 104,433.62 Outstanding MUNIS Debits $115,971.01 Adjusted Bank Balance $52,195.05 Less: Outstanding Checks/Ret Check Run ($272,599.68) Reconciled Balance as of February 28, 2026 Bank Balance as of March 1, 2026 $ 104,433.62 Deposits to Checking Account -0- Transfers In -0- ACH Credit $325,185.00 Other Credits $876,357.18 Less: Cancelled Checks (106,541.32) Less: Other Debits (109,713.30) Less: ACH Debits (1,026,650.61) Funds Transfers Out -0- Bank Balance as of March 31, 2026 $ 63,070.57 Outstanding MUNIS Debits $148,182.53 Adjusted bank balance $32,530.00 Less: Outstanding Checks/Ret Check Run ($243,783.10) Reconciled Balance as of March 31, 2026 REQUISITIONS Ms. Sheatler made a motion to approve the requisitions for the months of January 2026 through April 2026. Motion was seconded by Ms. Janis. No discussion followed. Roll call vote taken: Ms. Sheader — YES; Mr. Flickinger — YES; Mr. Maggi — YES; Ms. Janis — YES; Mr. Sherman — YES Motion passed unanimously. DISTRIBUTIONS JANUARY 2026 Check Payee Amount 3680 Fidelity Management Trust Company as trustee of IRA of Krista $25,873.89 Leigh Rearick 3681 Morgan Stanley Smith Barney as trustee of IRA of Elena Savikas $1,808.85 3682 Rachel Haywood $5,729.89 3683 Amber Ross $28,661.85 3684 Nathaniel Hathorne $2,943.59 3685 Madison Gallagher $524.35 Transfer: Washington County Regular Payroll Escrow Account $25,776.50 Transfer: Washington County Cash Disbursement Account $61,782.95 Transferred 12/26/2025 $57,648.37 Transferred 1/16/2026 $4,134.58 Transfer: PNC Bank $74,994.14 Transfer: Washington Co. Retirement Acct. $966,468.96 Total January 2026 Distributions $1,194,564.97 FEBRUARY 2026 Check Payee Amount 3686 Lisa Taggart $45,683.55 3687 Ronnie Mesie $6,110.40 3688 Sarah Dugan $23,866.99 3689 Christopher Bioni $5,452.55 3690 Nicole Donovan $2,165.52 3691 Jessica Pawuk $1,811.33 3692 Maria Barone $519.43 Transfer: Washington County Regular Payroll Escrow Account $26,196.32 Transfer: Washington County Cash Disbursement Account $56,316.07 Transferred 1/30/2026 $9,210.79 Transferred 2/6/2026 $8,424.75 Transferred 2/13/2026 $38,680.53 Transfer: PNC Bank $86,302.63 Transfer: Washington Co. Retirement Acct. $971,460.38 Total February 2026 Distributions MARCH 2O26 Check Payee Amount 3693 Mark Pacilla $33.80 3694 Michelle Garber $31,158.08 3695 Cassandra Casella $6,359.02 3696 David Altier $1,119.68 3697 Kayla Snider $1,776.59 Transfer: Washington County Regular Payroll Escrow Account $25,574.82 Transfer: Washington County Cash Disbursement Account $84,138.48 Transferred 3/6/2026 $57,871.36 Transferred 3/13/2026 $26,267.12 Transfer: PNC Bank $75,578.41 Transfer: Washington Co. Retirement Acct. $968,420.60 Total March 2026 Distributions APRIL 2026 Check Payee Amount 3698 Ameriprise Trust Company as Trustee of IRA of Ruth Ann $38,032.95 Dinsmore 3699 Adrian Fletcher $31,698.94 3700 Kimberlea Przustup $126,824.99 3701 Maxwell Ravenscroft $1,815.80 3702 Michelle Hernandez $980.19 3703 David Shoup $2,268.05 3704 Lexi Lavrich $744.47 3705 Kristen Howard $129.33 3706 Sunrose Rousnee $1,727.86 3707 Isabella Sinkovec $1,220.12 5527 Shane Prevost Bails $1,005.88 5528 Charles Schwab as trustee of IRA of Mark Wyland $13,281.18 5529 Mark Wyland $9,060.90 5530 Brandon Muschweck $3,411.51 5531 Drilak, Rebekah $4,898.25 5532 Justin Smereczniak $2,151.01 Transfer: Washington County Regular Payroll Escrow Account $25,484.26 Transfer: Washington County Cash Disbursement Account $21,346.55 Transferred 4/14/2026 $4,170.42 Transferred 4/24/2026 $17,176.13 Transfer: PNC Bank $110,346.14 Transfer: Washington Co. Retirement Acct. $973,726.44 Total April 2026 Distributions OLD BUSINESS None. NEW BUSINESS Portfolio Presentation — Lee Martin — Marquette Associates Mr. Martin presented the Retirement Fund's Portfolio overview as of the 1 st Quaver 2026. As of March 31, 2026, the Fund was valued at approximately $239.7 million with a first quarter net loss of $1.2 million. He also stated that the positive attribution relative to policy for the quarter was from Value and Small Cap Equity, Low Volatility Equity, International Equity (fair value pricing) and Defensive Equity (VRP). The negative attribution for the quarter was from Growth Equity, Timber/Farmland and Sub -Investment Grade Fixed Income. Mr. Martin added that the fund gained $68.9 million over the last 5 years with a gross return of 6.9%, placing the fund in the top 22% of the InvestMetrics US DB plan universe. He noted that we are currently seeing overall low investment management fees of 0.38% compared to the national average above 50bps for broadly diversified defined benefit plans. Mr. Martin wraps up the presentation with a look at the OPEB Fund's Portfolio overview as of the 1st Quarter 2026. As of March 31, 2026 the Fund was valued at approximately $32.4 million with a fourth quarter net loss of $147K. He also stated that the positive attribution relative to policy for the quarter was from Value and Small Cap Equity, Low Volatility Equity, Defensive Equity (VRP) and Real Assets. The negative attribution for the quarter was from Growth Equity and Core Plus Fixed Income. Mr. Martin added that the fund gained $9.6 million over the last 5 years with a net return of 7.3%. He states we are in the top 8% of the US Defined Benefit plan universe over that period. He noted that currently we are seeing very low investment management fees of 0.32%. No Discussion followed. The meeting was adjourned at 10:57 a.m. THE FOREGOING MINUTES SUBMITTED FOR APPROVAL 12026 ATTEST: