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File #: 23-0317    Name: Pension Board Management Rep
Type: Written Report Status: Agenda Ready
File created: 9/20/2022 In control: City Council Legislative Meeting
On agenda: 10/11/2022 Final action:
Title: Consideration of the Appointment of Management Representatives to the City of Alexandria Supplemental Retirement Board and Firefighters and Police Officers Pension Board.
City of Alexandria, Virginia
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MEMORANDUM



DATE: OCTOBER 4, 2022

TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL

THROUGH: JAMES F. PARAJON, CITY MANAGER /s/

FROM: KENDEL TAYLOR, INTERIM DEPUTY CITY MANAGER

DOCKET TITLE:
TITLE
Consideration of the Appointment of Management Representatives to the City of Alexandria Supplemental Retirement Board and Firefighters and Police Officers Pension Board.
BODY
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ISSUE: There are two similar issues presented for Council consideration: 1) Appointment of Management Representatives to the City of Alexandria Firefighters and Police Officers Pension Board ("Fire & Police Board") and 2) Appointment of Management Representatives to the Retirement Board of the City of Alexandria Supplemental Retirement Plan ("Supplemental Board").

RECOMMENDATION: That City Council appoint the following individuals to the newly vacant Management Representative position on the City of Alexandria Firefighters and Police Officers Pension Board and the Supplemental Retirement Board:

* Kendel Taylor, Director of Finance and Interim Deputy City Manager
* Katherine Key, Performance Analyst II, Office of Performance Analytics.

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 eithe...

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