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Police & Fire Department Retirement Plan
The Police & Fire Department Retirement Plan (“Plan”) is a defined benefit retirement plan serving the police and fire employees and retirees of the City of San José. Operating under the San José Municipal Code Section 2.08.1200, the Plan is managed and administered by its Board of Administration (“Board”). The Board’s specific duties include: consideration of requests for retirement, administration and investment of the retirement funds, and determination of eligibility for membership in the pension plans, employees’ eligibility for membership in the pension plan, and employees’ eligibility for retirement benefits. The Board uses investment earnings and employer and employee contributions to provide eligible retirees with defined-benefit pensions based on their years of service and highest compensation. The Plan provides medical, survivorship, and permanent disability benefits to qualified members and their beneficiaries.

The Board has broad authority in the administration of the retirement plan as well as the authority to enter into agreements on behalf of the City for the administration of the Plan. The authority is exercised within the limitations imposed by the Municipal Code and within the requirements of the applicable fiduciary standards. The Board also has an Investment Committee, which meets monthly and a Real Estate Committee, which meets quarterly.

The Board meets on the first Thursday of each month at 8:30 a.m. except in July. The meetings are held at the office of The Department of Retirement Services located at 1737 North First Street, Suite 600, San José, CA 95112.

Meeting Materials
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