Commingled: Pension Board Responsibilities, Pool Bonds, and City Investments Jan. 26
The Piedmont Police and Fire Pension Board has no authority in Pool or City financial matters. However, in a staff report for an expanded meeting with the City Investment Sub-committee, the Pension Board is jointly involved in consideration of City assets (separate from Pension funds) and the Pool Complex Bond funds. City_Investment_Report_FY21-22_Q2 Fiscal Year 2021-22: 2nd Quarter Report on the City’s Investment Portfolio
City Code: SEC. 26.1 PENSION BOARD [Charge]
“A board is hereby created whose duty it shall be to handle and administer pensions for retired members and benefits for members, their nominees and the widows and minor children of deceased members of the police and fire departments of the City of Piedmont.
The Pension Board shall be comprised of the mayor, one member of the City Council, one member of the police department, one member of the fire department, and one community representative appointed by the Council for a three-year term of office commencing April l. Each said department member shall be selected from the rank and file of each respective department. The Council member and the community representative shall be selected by the members of the Council of the City of Piedmont.
The pension board shall select its own chairman and secretary and shall administer all matters pertaining to pensions in accordance with the provisions of this Chapter 26. The pension board shall have power, by resolution, to provide rules and regulations for the administration of all matters pertaining to pensions and benefits hereunder, and shall invest the pension fund, or direct that their investments be made by or through investment counsel, trust companies, or trust departments of banks, or any combination thereof, in accordance with City ordinances applicable to the investment of funds of municipal retirement systems, and if there be none, in accordance with state law. (Ord. No. 396 N.S., §1; Ord. No. 42l N.S., §l)”
City of Piedmont Police & Fire Pension Board & City Investment Subcommittee
Agenda Wednesday, January 26, 2022 4:00 p.m.
Via Teleconference
See agenda details below:
Pension Board Agenda 2022-01-26
Finance Director’s Memo 1:2022
City_Investment_Report_FY21-22_Q2
The Finance Director’s staff report regarding a disability applicant is purposely omitted from this article to protect the privacy of the applicant’s medical condition. https://oag.ca.gov/system/files/opinions/pdfs/04-408.pdf
If readers need more information on the disability application, please contact the City Clerk at 510/420-3040.
