Arlington Retirement Board Investment Regulations

Regulations accepted by the board and approved by PERAC

PERAC Approval Date: 10/01/07

Investment/Supplemental Regulation

Regulation Number 16.08: The Arlington Retirement Board may invest in the Barclays EAFE Equity Index Fund on a temporary basis.  The Board had recently terminated its incumbent international equity manager, The Boston Company, after that firm’s international equity portfolio management team suddenly departed the firm.  The Board and its consultant determined that Barclays Global Investors offered the most cost-effective and efficient product for this temporary assignment.  The manager has submitted the required regulatory documents.

This temporary authorization extends through January 31, 2008.

PERAC Approval Date: 01/11/1996

Investment/Supplemental Regulation

Regulation Number 20.03(1): Equity investments shall not exceed 70% of the portfolio valued at market, including international equities which shall not exceed 10% of the portfolio valued at market.

Regulation Number 20.03(2): At least 30% but no more than 80% of the total portfolio valued at market shall consist of fixed income investments with a maturity of more than one year.

PERAC Approval Date: 02/15/1995

Investment/Supplemental Regulation

Regulation Number 20.03 (1): Equity investments shall not exceed 55% of the portfolio valued at market,including international equities which shall not exceed 5% of the portfolio valued at market.

Regulation Number 20.04 (1): United States based corporations and equities of foreign corporations.

Regulation Number 20.07 (5): Equity investments shall be made only in securities listed on a United States stock exchange, traded over the counter in the United States, or listed and traded on a foreign exchange.

PERAC Approval Date: 02/18/1993

Investment/Supplemental Regulation

Regulation Number 20.03(1): Equity investments shall not exceed 50% of the total book value of the portfolio at the time of purchase.

PERAC Approval Date: 02/21/1992

Investment/Supplemental Regulation

Regulation Number 4.03: Copies to be Sent to PERA

1. Within four (4) weeks of the close of each month, after all entries for the month have been posted and a trial balance performed, the board shall send to the Public Employee Retirement Administration a photocopy of the following for the month:

1. cash book entries;
2. trial balance; and
3. journal entries.

PERAC Approval Date: 01/03/1992

Investment/Supplemental Regulation

Regulation Number 16.02(3): The board may incur expenses for investment advice or management of the funds of the system by a qualified investment manager and the board may incur expenses for consulting services. Such expenses may be charged against earned income from investments provided that the total of such expenses shall not exceed in any one year:

1. 1% of the value of the fund for the first $5 million; and
2. 0.5% of the value of the fund in excess of $5 million.

Regulation Number 16.02(4): The board may employ a custodian bank and may charge such expenses against earned income from investments provided that such expenses shall not exceed in any one year .08% of the value of the fund.

PERAC Approval Date: 03/22/1990

Investment/Supplemental Regulation

Regulation Number 20.06(8): Sales of fixed income investments with maturities exceeding one year shall not exceed 200% of the market value of all fixed income obligations in any twelve month period, excluding cash and short term obligations.

Regulation Number 20.07(6): Sales of equity investments shall not exceed 100% of the average market value of all equity holdings in any twelve month period.

PERAC Approval Date: 11/24/1989

Investment/Supplemental Regulation

Regulation Number 20.08(e): Enrollment in the Securities Lending Program offered by State Street Bank & Trust Company.

PERAC Approval Date: 04/24/1989

Investment/Supplemental Regulation

Regulation Number 4.03(1): Within four (4) weeks of the close of each month, after all entries for the month have been posted and a trial balance performed, the board shall send to the Public Employee Retirement Administration a photocopy of the following for the month:

1. cash book entries
2. trial balance
3. journal entries

Regulation Number 4.03(2): As of January, 1989, the board shall instruct its custodian bank to send to the Public Employee Retirement Administration all custodian reports and a tape of daily cash settlement activity and purchase and sale transaction information within four (4) weeks of the close of each month.