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Description
Reports
Body Name:
Police & Fire Pension Board
Type:
City Advisory Boards and Committees
Meeting location:
Cultural Center, Meets as scheduled by the Board
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The Board of Trustees is responsible for directing the investment of the assets of the Pension Fund to ensure that there will be adequate monies for future benefits. The Fund’s money is invested by professional money managers whose performance is monitored by independent investment professionals on a quarterly basis to ensure that the Plan is receiving a proper return on the investment of pension assets. The Fund employs a professional actuary who helps determine the cost of future benefits; accountants who determine the proper distribution of monies; and an attorney with expertise in the area of public pension law to advise the Board of Trustees. With the assistance of these professionals, the Board of Trustees is responsible for interpreting and applying the pension ordinance and for determining eligibility on all benefit claims. *The Hallandale Beach Police & Fire Pension Board is administered by a five (5) member Board of Trustees, consisting of one (1) active police officer, elected by the police membership; one (1) active firefighter, elected by the firefighter membership; two (2) Trustees appointed by the City Commission that are legal residents of the City; and a fifth Trustee, selected by a majority vote of the other four Trustees.
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