Investment Policy Committee (IPC)


The Investment Policy Committee (IPC) advises and assists the Senior Vice President (SVP) in monitoring the investment options for the following defined contribution retirement plans:

    • Defined Contribution Retirement Plan for Faculty of George Mason University
    • George Mason University Cash Match Plan
    • Supplemental Defined Contribution Benefit Plan for employees of George Mason University
    • George Mason University Tax-Deferred Savings Plan
    • George Mason University Employer 403(b) Plan

Investment Policy Committee Members

The SVP appoints the IPC members.

Name, TitleUnit/DepartmentRoleMember Since
Carol Kissal,
Senior Vice President
Senior Vice PresidentUniversity Official, Ex-Officio2019
Lester L. Arnold, Vice PresidentHuman Resources and PayrollChair, Ex-Officio2019
Deb Dickenson, Vice President and ControllerFiscal ServicesEx-Officio2019
K. Anne Gentry, Interim University CounselUniversity CounselEx-Officio2014
Michelle Lim, Assistant Vice President, Total RewardsHuman Resources and PayrollEx-Officio2022
J. K. Aier, Associate Professor, AccountingSchool of BusinessAt Large Member2019
T. Mills Kelly,
History and Art HistoryAt Large Member2019
Jason Dunick, Associate Chair
EconomicsAt Large Member2019
John Crockett, Jr.,
Professor (retired)
RetireeAt Large Member2014
Barron (Barry) Schmitt,
Senior VP, Financial Adviser
CAPTRUST FinancialInvestment Consultant/Advisor
Fran Slacum, Senior Financial Advisor/Relationship ManagerCAPTRUST FinancialInvestment Consultant/Advisor

Investment Policy Statement

The Investment Policy Statement (IPS) is designed to assist the IPC in evaluating and monitoring the investment assets under the Plans. The IPC reviews the IPS periodically to determine if modifications are needed.

The IPS:

    • Outlines the overall structure of each plan’s investment program, the duties and responsibility of the IPC, and the general policies and procedures under which the IPC operates;
    • Establishes guidelines and procedures to be followed by the IPC in performing its duties in connection with the selection of investment options under the Plans; and
    • Outlines criteria and procedures that the IPC will use in reporting the performance of the investment options offered under each Plan and to evaluate whether the respective investment policies of the investment options are consistent with the goals of the Plans.

You can read the Investment Policy Statement (IPS) for more information.


The Office of the General Counsel developed the IPC Charter in 2021.  The Charter outlines the purpose, powers, members, meetings, officers, term of office and duties of the IPC.  The committee member appointment letter is included in the Appendices.

Complete Plan Document and Amendment

To view the complete plan document and amendment, please visit our Supplemental Retirement Plan Options page and view the FAQ titled "Where Can I View the Complete Plan Document?"


The IPC meets up to three times per calendar year.  The fall meeting (annual meeting) is held for the purpose of conducting a due diligence review of the performance of Plan investments. Regular meetings are held twice a year for the purpose of transacting other business.  Regular meetings are scheduled for a calendar year before the beginning of that year.

Meeting Scheduling:  CapTrust, the investment advisor, works with Vicki McGough to schedule meetings.  Vicki schedules the meetings and confirms the availability of Committee members.

Meeting Materials: CapTrust emails materials in advance of the scheduled meetings.   Vicki McGough emails the meeting materials to Committee members prior to the meeting.

Meeting Follow-Up

The Benefits Director works with CapTrust on any items requiring follow-up after the meeting