FIRE & POLICE PENSION
The City Pension Fund for Firefighters and Police Officers in the City of Miami Beach is a defined benefit plan. This plan was created under Chapter 23414 Laws of Florida, Special Acts of 1945, as amended through November 17, 2010.
It is the mission of the Board of Trustees to properly administer the provisions of the plan and to manage investment of the assets for the exclusive purpose of providing benefits to participants and beneficiaries, and defraying reasonable expenses of plan administration. This is done by providing the highest quality of administrative services within the applicable laws and professional and ethical standards.
The general administration and responsibility for both the proper operation of the Pension Plan and for making effective the provisions of the Plan, are vested in a Board consisting of nine persons, as follows:
The term of office for the elected Trustees is two years.
Each Trustee is entitled to one vote on the Board. Five votes shall be necessary for a decision by the Trustees at any meeting of the Board.
Regular meetings of the Board of Trustees are scheduled on the third Thursday of each month at the Fire and Police Pension Office at 8:30 A.M.
The Board employs the necessary consultants and other professionals to properly to conduct the business of the pension fund.