The City Council voted March 15 to authorize the Board of Administration of the Tacoma Employes’ Retirement System (TERS) to extend an investment management agreement with Metropolitan West Asset Management, LLC, until March 2008. If approved, the agreement would provide Metropolitan West with an estimated fee of more than $582,500, for a cumulative total of $1,747,500 for investment management services from April 1, 2005 through March 31, 2008. TERS earned a 15.6 percent return for calendar year 2004.