Fund Operations During Coronavirus Shutdown

Last Updated - Wednesday, April 29, 2020

Hello to all Fund members. We hope that you and your family are healthy and safe during this historic time.

As you know, due to the COVID-19 pandemic, the MWRDRF office has been closed since March 16th. Staff has been operating remotely Monday through Friday.

We have made every attempt to satisfy member requests, but please understand that processing times may be delayed by our limited access to our offices and, in some cases, dependence on a separate entity to satisfy your request. We appreciate your patience.

We encourage you to contact us via electronic mail during this time. Staff email addresses may be found on our contact us page.

Fund staff is monitoring requests for April 30, 2020 retirements. Currently, we are mailing retirement applications to requesting members. Our normal processing includes a face-to-face meeting with the retiring member to assist them in filling out the necessary forms and answering any questions that may have. Due to this outbreak, members have been asked to complete the necessary forms remotely and send them to the Fund. As the time comes, we will set up calls with members, if requested, to assist them in completing the application process. Ensure that you include proper contact information.

Please be patient during this time. Normally, retirement processing time is 30 to 60 days. During this historic time, we are notifying members to prepare for longer processing times, especially if you are retiring under reciprocity (other service with a reciprocal fund/system). Please plan accordingly.

We have received a few calls from the membership about the Fund’s assets during this historic time. Just as the Fund’s portfolio achieved an 18.3% rate of return during a solid market year in 2019, the portfolio saw a reduction in value in the first quarter of 2020, as markets were sharply hit by the effects of the coronavirus on the economy. Always remember that the Retirement Board Trustees are long-term investors and focus on an asset allocation that will attempt to outperform overtime. Even during these difficult times, the Board will focus on their asset allocation during times when liquidity is needed from the portfolio.

Please review this website periodically for further updates.

Rest assured we are pursuing every avenue to provide the service that our members expect during this national health emergency. Stay healthy and thank you for your patience and understanding.

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