# Calvert County Employees' Retirement Plan

Calvert County Employees' Retirement Plan is a Pension Fund based in Prince Frederick, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Prince Frederick, United States
- **Region:** North America
- **Address:** Prince Frederick, MD, United States
- **Founded:** 1996
- **Assets under management:** $50M–$150M (Altss estimate)
- **Website:** https://www.calvertcountymd.gov/533/Retirement-Plans
- **LinkedIn:** https://www.linkedin.com/company/calvertcountygov

## Regulatory record

- **Reports private funds:** No

## About

The Calvert County Employees' Retirement Plan serves public workers in a peninsular Chesapeake Bay county where the dominant economic anchors are the Calvert Cliffs Nuclear Power Plant, the Patuxent River Naval Air Station, and a tourism economy built around Solomon's Island. The plan's governance reflects this insularity: a Board of Trustees chaired by the county's Director of Finance and Budget, with the HR Director and County Administrator serving alongside a lone employee representative. No outside investment advisory firm is named in its public record, suggesting investment decisions are made by this internal committee. Known portfolio construction is simple. The plan holds shares in the Barings Core Property Fund, a core-plus real estate vehicle that owns a diversified mix of industrial, multifamily, office, and retail properties across the United States. Its fixed-income sleeve includes direct holdings of U.S. Treasury bills, a choice consistent with the conservative liquidity posture common among small county-level pension plans that cannot absorb significant duration risk. With an estimated $99 million in assets (Altss estimate), the plan is small relative to the $80 billion Maryland State Retirement and Pension System. It operates without a dedicated website or LinkedIn presence, and it does not issue RFPs through the major institutional databases. No recent board minutes or investment policy statements are publicly available. Structurally, the plan is distinguished by its isolation. It is not part of the Maryland State Retirement Agency's pooled investment program, which means Calvert County bears full fiduciary responsibility for its own asset-liability matching, manager selection, and actuarial reporting. In an era of pension consolidation, this stand-alone posture — a plan of fewer than $100 million running its own board and contracts — is increasingly rare and carries both governance risk and local-control benefits.

## Sectors

- Real Estate
- Diversified

## People

- Bruce Miller — Director of Finance and Budget; Chair of the Board of Trustees
- Melanie Woodson — Director of Human Resources; Board Trustee
- Linda M. Turner — County Administrator; Board Trustee
- Julian Willis — Employee Representative; Board Trustee

## Questions

### Who makes investment decisions at the Calvert County Employees' Retirement Plan?

The Board of Trustees holds investment authority. It is chaired by Bruce Miller, the county's Director of Finance and Budget. The board also includes the HR Director, the County Administrator, and an employee representative. No external investment consultant or outsourced chief investment officer is identified in the plan's public record.

## Related profiles

- [Blue Cross Blue Shield of Massachusetts Post-Retirement Benefit Plan](https://altss.com/profile/blue-cross-blue-shield-of-massachusetts-inc-post-retirement-benefit-plan)
- [Fiduciary Management Group](https://altss.com/profile/fiduciary-management-group)

---

Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/calvert-county-md-employees-retirement-plan

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology