City of Alexandria, Virginia
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MEMORANDUM
DATE: JANUARY 22, 2025
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
THROUGH: JAMES F. PARAJON, CITY MANAGER /s/
FROM: KENDEL TAYLOR, DIRECTOR OF FINANCE
DOCKET TITLE:
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Consideration of Appointment of a Police Officer Alternate Representative to the City of Alexandria Firefighters and Police Officers Pension Board.
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ISSUE: Appointment to the City of Alexandria's Firefighters and Police Officers Pension Board.
RECOMMENDATION: That City Council appoint Joseph Cavanaugh as Police Officer Alternate Representative to the City of Alexandria Firefighters and Police Officers Pension Board for the period of February 1, 2025 to December 31, 2028.
BACKGROUND: The Firefighter and Police Officer Pension Board ("Board") consists of eight members and three alternates who serve as the trustees of the trust and fiduciaries of the Firefighters and Police Officers Pension Plan ("Plan") and its assets. The Board acts for the City on matters concerning the assets of the Plan, including selecting and monitoring investment funds and appointing investment managers, custodians, and advisors. The Board is also charged with consulting with City management to recommend modifications to the Plan. The Plan requires Board meetings to be held each quarter of the calendar year, but meetings are generally held more often.
City Council has the authority to appoint Board members to the Firefighter and Police Officer Pension Board. The Board members are either nominated by the City Manager or elected by the Voting Participants, which include both active sworn Firefighters and Police Officers as well as retired and deferred vested Plan participants who were sworn Firefighters or Police Officers. The City Manager nominates four representatives and one alternate to represent City management. Firefighters nominate and elect through secret ballo...
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