City of Alexandria, Virginia
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MEMORANDUM
DATE: JANUARY 2, 2013
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: RASHAD M. YOUNG, CITY MANAGER /s/
DOCKET TITLE:
TITLE
Consideration of Appointment of a Firefighter Representative and Alternate to the City of Alexandria Firefighters and Police Officers Pension Plan Retirement Board.
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ISSUE: Appointment of a Firefighter Representative and Alternate to the Retirement Board (“Board”) of the City of Alexandria Firefighters and Police Officers Pension Plan (“Plan”).
RECOMMENDATION: That City Council appoint the following individuals to the City of Alexandria Firefighters and Police Officers Pension Board:
1. Patrick Evans as Firefighter Representative; and
2. Rick Muse as Firefighter Alternate.
DISCUSSION: The Board consists of eight members and three alternates who serve as the trustees of the trust and fiduciaries of the 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. 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 ballot two Participant Representatives and one Alternate. Police Officers also nominate and e...
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