§ 20-1412 Annual report and audit.
AC § 20-1412
a. The retirement savings program shall undergo an annual financial audit by or at the direction of the comptroller. b. No later than three months after the end of a calendar year and annually thereafter, the board, in consultation with the comptroller, shall make available on the city's website an annual report that shall describe and summarize the activities of the board and the comptroller. That report shall include but not be limited to: 1. the total number of participants; 2. the total number of covered employees and other eligible individuals in the city; 3. the total number of participants enrolled during the previous year; 4. the demographics and income levels of participants, to the extent reasonably ascertainable; 5. the number of covered employees who opted out of the retirement savings program during the subject year; 6. the number and type of civil penalties imposed by the enforcement agency pursuant to section 20-1414, for violating the requirements of this chapter; 7. the total assets under management in the retirement savings program; 8. fund profiles, investment objectives, assets under management and performance measures, such as rates of return, for each of the investment options provided by the retirement savings program for the subject year; and 9. the total cost of administering the program during the subject year. c. The data required to be included in this annual report will also be made available on the city's website in a non-proprietary format that permits automated processing. (L.L. 2021/052, 5/11/2021, eff. 8/9/2021)
