City of Alexandria, Virginia
________________
MEMORANDUM
DATE: JANUARY 16, 2019
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: MARK B. JINKS, CITY MANAGER /s/
DOCKET TITLE:
TITLE
Consideration of the Appointment of a Management Representative Alternate to the City of Alexandria Supplemental Retirement Board and Firefighters and Police Officers Pension Board.
BODY
_________________________________________________________________
ISSUE: Appointment of a Management Representative Alternate to the City of Alexandria Firefighters and Police Officers Pension Board ("Fire & Police Board") and Appointment of a Management Representative Alternate to the Retirement Board of the City of Alexandria Supplemental Retirement Plan ("Supplemental Board").
RECOMMENDATION: That City Council appoint Philip Pugh, Property Maintenance Code Division Chief, Department of Code Administration as a Management Representative Alternate to the City of Alexandria Firefighters and Police Officers Pension Board and the Supplemental Retirement Board.
BACKGROUND: The Firefighter & Police Officers Pension Board consists of eight representatives and three alternates. The Supplemental Board consists of eight representatives 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. With overlapping investments both boards meet together with some frequency, hence the overlapping membership.
DISCUSSION: City Council has the authority to appoint Firefighter & Police Officers Pension Board representatives. The board representatives are either ...
Click here for full text