Statement from the Chair of the ICMA-RC Board of Directors Regarding Executive Compensation

The ICMA-RC Board of Directors' believes in open communication on the subject of Executive Compensation. The following outlines our perspective:

  • The ICMA-RC Board of Directors takes its responsibilities for setting executive compensation very seriously.
    In order to ensure a strong, independent Board, members are drawn from both the private and public sector, and each has a solid background and extensive experience in management, finance, or investments. The Board is actively involved in the oversight of executive compensation. Annually, the Board and its Administration and Compensation Committee conduct a detailed review of executive compensation and approve the compensation for each executive following a rigorous process. As part of the process, the Board works closely with independent, experienced compensation consultants to benchmark executive positions against comparable industry jobs to ensure that compensation is reasonable. Additionally, the Board engages external counsel to advise it on the process, to ensure legal compliance and that best practices are followed.
  • Executive compensation is tied to corporate and individual performance.
    The Board sets corporate goals annually and monitors progress against the goals. Final results against these goals and the individual performance of each executive are evaluated to determine salary and incentive pay. ICMA-RC's executive compensation is competitive with similar positions at organizations providing comparable services.
  • ICMA-RC helps local and state government employees build retirement security through various education and investment products and services.
    This requires that we attract and retain professionals with the experience needed to provide our clients outstanding investment and retirement services.
  • ICMA-RC has a highly talented and experienced executive team with a proven track record.
    The executive team operates in a complex and highly regulated industry. The team has led the corporation to ongoing success. Under the team's leadership, ICMA-RC's talented associates are providing superior retirement plan administration, education, and investment products and services for over one million participant accounts and more than $50 billion in assets.

ICMA-RC's 2017 IRS Form 990 contains information about ICMA-RC's executive compensation and is available on ICMA-RC's website. ICMA-RC's performance and focus on the mission of helping build retirement security for public sector employees evidences the quality of the corporation and its associates.

Peggy Merriss
Chair, ICMA-RC Board of Directors

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