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Defined Contribution Investment Committee

What Is the Defined Contribution Investment Committee (DCIC)?

The Montgomery County Public Schools (MCPS) DCIC is responsible for developing and maintaining the investment menu for the voluntary retirement savings plans: the 403(b) and 457(b) plans. Major responsibilities of the DCIC include:

  • Review the investment menu structure and design and recommend changes as necessary;
  • Monitor and evaluate investment fund performance;
  • Select and/or replace investment fund options;
  • Monitor expenses for investment fund options and the administrative services provider; and
  • Create the Investment Policy Statement and review it on a periodic basis.

The DCIC consists of seven members. The associate superintendent of finance is an ex officio member of the committee. Each of the associations, SEIU Local 500, MCEA, and MCAAP/MCBOA, recommend one person to serve on the committee. The remaining three members are from the community with professional backgrounds in investing. The Board of Education appoints members for three-year terms.

DCIC Meetings 

The DCIC meets four times a year via videoconference. The meetings are from 1:00 p.m. to 3:00 p.m. unless otherwise noted.

2024 Meeting Schedule

  • Friday, February 2, 2024
  • Friday, June 7, 2024
  • Thursday, August 1, 2024
  • Thursday, October 31, 2024

Meeting Agendas 

Meeting Minutes  



Contact the Division of Investments if you would like dial-in instructions for a DCIC meeting being held by teleconference or videoconference.

Please be advised that part of each meeting may be held in closed session in accordance with Maryland's Open Meetings Act.