City of Alexandria, Virginia
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MEMORANDUM
DATE: JUNE 7, 2022
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: JAMES F. PARAJON, CITY MANAGER /s/
DOCKET TITLE:
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Consideration of the Appointment of a Management Representative to the City of Alexandria Supplemental Retirement Board and Firefighters and Police Officers Pension Board.
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ISSUE: There are two similar issues presented for Council consideration: 1) Appointment of a Management Representative to the City of Alexandria Firefighters and Police Officers Pension Board ("Fire & Police Board") and 2) Appointment of a Management Representative to the Retirement Board of the City of Alexandria Supplemental Retirement Plan ("Supplemental Board").
RECOMMENDATION: That City Council appoint the following individual to the newly vacant Management Representative position on the City of Alexandria Firefighters and Police Officers Pension Board and the Supplemental Retirement Board:
* Julian Gonsalves, Assistant City Manager, Public-Private Partnerships.
BACKGROUND: The Fire & Police Board consists of eight members and three alternates. The Supplemental Board consists of eight members and five alternates. Both Boards serve as the trustees and fiduciaries of their respective plans and assets. Both Boards act for the City on matters concerning the Plan's assets, including selecting and monitoring investment funds and appointing investment managers, custodians, and advisors. Both Boards are also charged with consulting with City management to recommend modifications to the Plan. Both Plans require board meetings to be held quarterly, but meetings are generally held more often.
DISCUSSION: City Council has the authority to appoint Fire & Police Board members. The board members are either nominated by the City Manager or elected by the Voting Participants, which include active sworn Firefighters and Police...
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