RETIREMENT SYSTEMS OF THE CITY OF DETROIT
Joint Personnel Committee
500 Woodward Ave, Suite 3000
Detroit, Michigan 48226
Job Title: Assistant Executive Director – Police and Fire Retirement System of the City of Detroit
Salary Range $100,000.00 to $150,000.00
The City of Detroit has two distinct and separate retirement systems: the General Retirement System; and the Police and Fire Retirement System. The legal and fiduciary responsibility for the general administration, management, and proper operation of the Retirement Systems, and for making effective their provisions, is vested in each Retirement System’s Board of Trustees.
The Police and Fire Retirement System provides services and benefits to approximately 3,300 active members and 8,500 retirees and beneficiaries. The Assistant Executive Director is appointed by and accountable to the Board of Trustees of the Police and Fire Retirement System of the City of Detroit. The Assistant Executive Director is responsible to oversee the day-to day business and affairs of the PFRS under the direction of the Executive Director and with the assistance of a Chief Investment Officer and a staff of approximately 35 employees. Day-to-day activities may include oversight of the benefit application process, retirement education sessions, explanation and interpretation of City ordinances and collective bargaining agreements pertaining to retirement benefits, cash flow analysis, review and approval of monthly financial reconciliations, preparation and oversight of the annual budget for the System, meeting and conferring with the Systems’ service providers including, but not limited to: (1) investment consultants; (2) actuaries; (3) auditor(s); (4) General Counsel and special legal counsel; (5) investment managers; and (6) and other third party services providers as may be retained by the Board.
Currently, the Police and Fire Retirement System assets are in excess of $ 3 billion.
The Police and Fire Retirement System is comprised of two distinct plans: a legacy traditional defined benefit plan and a new hybrid defined benefit plan. Information about the Police and Fire Retirement System is available on the RSCD website at www.pfrsdetroit.org.
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