Pension

The chief financial officer (CFO) and Treasury staff administer the City’s retirement benefits, which include:

  • Police Pension Plan
  • Firefighters’ Pension Plan
  • General Employees’ Pension Plan
  • One 401a defined contribution pension plan for general employees
  • Two 457b deferred compensation plans
  • Two retiree health savings plans

In addition, the CFO serves as chairman of the Pension Advisory Committee (PAC). The PAC is comprised of designees from each City department and from each collective bargaining group. It advises City Council on matters related to the General Employees’ Pension Plan and the 401a defined contribution plan. The city treasurer serves as executive director to the Police and Firefighters’ Pension Plans’ Boards of Trustees, and coordinates similar activities for the PAC and the deferred compensation plans. The deputy executive director and pension coordinator also assist the Boards of Trustees and the PAC.

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