About Us

A nine member Board of Trustees, who are considered fiduciaries, govern the Trust.

• The Board meets at least once every two months as required by City ordinance.
• Trustees are selected as follows: One trustee selected by the City Manager, two trustees selected by the general employees, two trustees selected by the sanitation employees, and four independent trustees selected by the City Commission from a list from each union of six non-employee nominees.
• As fiduciaries of the Trusts, the Board performs their duties and responsibilities solely in the interest of members of the retirement plan.
• In order to achieve their goals, the Board has employed the services of support staff including a Pension Administrator to perform daily functions.
• Services provided by support staff include accounting and financial reporting, member and employer contributions processing, retiree benefits calculations, and monthly disbursement of benefits to retirees or beneficiaries.
• The Board employs the services of a consulting actuary, a custodial bank, an investment consultant and several investment managers.
• An actuarial valuation for each plan is performed by the actuary on an annual basis to determine the amount of the City’s annual contribution.