Anodos Completes Governance Review of $1.0b Dallas County Hospital District Retirement Income Plan

SANTA BARBARA, Calif.--()--Anodos Advisors has completed the statutorily required Investment Practices and Performance Report for the Dallas County Hospital District Retirement Income Plan. The Plan has approximately $1.0b in assets and covers over 19,000 members. The Texas Government Code requires that an independent consultant …evaluate the appropriateness, adequacy and effectiveness of the retirement system’s investment practices and performance and to make recommendations for improving the retirement system’s investment policies, procedures and practices” (TGC §802.109).

The independent report produced by Anodos included an evaluation of (1) the Plan’s investment policy statement, (2) the process for determining target allocations, (3) the expected risk and return of the portfolio and its asset classes, (4) the future cash flow and liquidity needs of the Plan, (5) a review of investment fees, (6) board investment expertise and education, and (7) the selection, delegation and monitoring process for the investment managers, with particular emphasis on any “alternative” or “illiquid” managers.

Anodos worked closely with Callan LLC, the Plan’s independent investment consultant. Joe Mayer, the plan’s CIO, noted that the Anodos team produced the report in a comprehensive and professional manner consistent with the terms of their contract. Mr. Mayer said, “We look forward to working with the Anodos team in 2023 when the report will be updated.”

A copy of the report is publicly available upon request from the Texas Pension Review Board.

About Anodos: Anodos is a governance consulting firm that helps trustees establish, maintain and evaluate their internal fiduciary governance systems. The nimble team includes a trust attorney, a CFA® charterholder and an ERM auditor. What makes Anodos unique is that it does not serve as an investment consultant or advisor, nor in any way manage the trust capital. Managing Partner Josh Yager noted, "We are truly independent and have no vested interest in the findings or recommendations that we arrive at.”

Contacts

Josh Yager, Esq., CFP®
Anodos Advisors
5290 Overpass Road, Suite 217
Goleta, CA 93111
(805) 899-1245 (ph & fax)
josh@anodosadvisors.com

Release Summary

Fiduciary Governance Audit of $1.0b TX Retirement Plan

Contacts

Josh Yager, Esq., CFP®
Anodos Advisors
5290 Overpass Road, Suite 217
Goleta, CA 93111
(805) 899-1245 (ph & fax)
josh@anodosadvisors.com