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City of Alexandria, VA City of Alexandria, VA
Finance
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Page updated Aug 19, 2014 5:56 PM
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Firefighters and Police Officers

Quick Guide 


Announcements

  • Announcement: The Firefighters and Police Officers Pension Board announces elections for Representatives and Alternates.  Read on for additional information.
  • Announcement: The 2014 Cost of Living Adjustment (COLA) will be applied to pension payments on May 1, 2014. Information on the 2015 COLA, payable on May 1, 2015, will be posted after April 1, 2015.

Seminars, Workshops, and Webinars

None are scheduled at this time.  Please check back for updates.


Retirement Summary and Retirement Planning

Summary of Retirement, Deferred Compensation, and Payroll Deduct Roth Plans 


Firefighters and Police Officers Pension Plan Contract Number 17147


Deferred Retirement Options Program (DROP)

This program allows a participant with at least 30 years of credited service to retire under the plan, continue working as a covered employee for up to three years, and defer receiving monthly benefits until the DROP retirement date. More information is provided in DROP FAQ, a list of frequently asked questions and answers.

To enter the DROP, an eligible participant needs to complete the DROP Application and DROP Agreement and give them to the Pension Division. Contact the Pension Division three months prior to the date you wish to enter the DROP to discuss the program and complete all forms prior to the deadlines.

DROP Package including DROP FAQ, DROP Application, and DROP Agreement 

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Partial Lump Sum Option (PLOP)

The PLOP is an optional form of payment that allows a participant who retires at least one year after Normal Retirement Age to elect to receive a portion of their benefits in the form of a lump sum. We have created a PLOP Estimate Calculation Sheet to help you estimate your PLOP benefits.

PLOP Estimate Calculation Worksheet 

 If you are interested in more information on the PLOP, please contact the Pension Administration Division: call:703-746-3879 or email: Email button(1).

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Pension Plan Retirement Board

Member Term Ends Member Term Ends
Michael Cross (Secretary/Fire)  December 31, 2016 Edward Milner (Police) December 31, 2014
Patrick Evans (Fire)  December 31, 2014 Albert Tierney (Police)  December 31, 2016
Tom Gates (Chairman/City)  Appointed by the City Manager Nelsie Smith (City)  Appointed by the City Manager
Jean Kelleher (City)  Appointed by the City Manager Laura B. Triggs (City)  Appointed by the City Manager
Shirl Mammarella (Police - Alternate)  December 31, 2014 Rick Muse (Fire - Alternate)  December 31, 2014
       

2014 Firefighters and Police Officers Pension Board Elections

Update - The nomination period has completed and the following positions received uncontested nominations: Firefighter Representative, Firefighter Alternate and Police Office Alternate.  The only contested election is for Police Officer Representative.  A notification letter and ballot was mailed to each eligible participant's home address on August 4, 2014 for the Police Officer Representative election.  Ballots must be completed and returned to the Pension Administration Division by 3:00pm on Wednesday, August 27th.  Ballots can be returned using the envelope provided with the ballot or in person to the ballot box located in City Hall Room 1400.  If you have not received your ballot by Friday, August 15th please contact the election administrator (call:703-746-3879 or email: Email button(1) .)

Four positions are up for election on the Firefighters and Police Officers Pension Board.  The positions up for elections are Firefighter Representative, Firefighter Alternate, Police Officer Representative and Police Officer Alternate.  The term for each of the four positions will run from January 1, 2015 through December 31, 2018.  Please see the documents below for additional details.

The Election Administrator is Kadira Coley.  Feel free to contact her if you have questions about the Board and/or the election process.  call:703-746-3879 or email: Email button(1) .

 

Board Meeting Schedule 

The Pension Plan Board holds meetings throughout the year in City Hall, 301 King Street, in the room indicated below. Meetings are open to the public. During Due Diligence Meetings, the Board focuses on reviewing investment reports of the pension and disability funds. These meetings may last three hours or longer. Interim meetings may be shorter and often include educational presentations. The Board may consider other issues brought to their attention at any meeting. You can find links to minutes from previous meetings following the meeting schedule.

Committees meet to explore a specific topic to present to the full Board at a later date.

Date  Day  Time  Meeting Form  Location 
January 9, 2014  Thursday 8:30 a.m. Interim Meeting Council Workroom
February 13, 2014  Thursday 8:30 a.m. Due Diligence Meeting Council Workroom
March 13, 2014  Thursday 8:30 a.m. Interim Meeting Sister Cities 1101
April 10, 2014 Thursday 8:30 a.m. Interim Meeting Sister Cities 1101
May 9, 2014 Friday 8:30 a.m. Due Diligence Meeting Sister Cities 1101
June 12, 2014  Thursday 8:30 a.m Board Retreat Sister Cities 1101
July 10, 2014 Thursday  8:30 a.m.  Interim Meeting Sister Cities 1101 
August 14, 2014  Thursday 8:30a.m. Interim Meeting Sister Cities 1101
September 11, 2014  Thursday 8:30 a.m. Due Diligence Meeting Sister Cities 1101
October 9, 2014   Thursday 8:30 a.m. Interim Meeting Sister Cities 1101
November 13, 2014 Thursday 8:30 a.m Due Diligence Meeting Sister Cities 1101
December 11, 2014 Thursday 8:30 a.m Interim Meeting Sister Cities 1101

For more information on any of these meetings, contact Kadira Coley by e-mail or by phone at 703.746.3879

Board Meeting Minutes (Notes) 

 Minutes from Board Meetings for Prior Years 

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Pension Plan Retirement Board Procedures

The Firefighters and Police Officer's Pension Plan Board has adopted the following procedures.  Please see the following links to review these procedures.

 


Retirement Income Account (Defined Contribution Plan - Closed) Contract Number 719116

  Beginning in November 2013, ICMA-RC will provide administrative services for this plan.  

  • Log onto the ICMA-RC website (plan's recordkeeper) and click on the link for this closed, defined contribution plan to view your account balance and make changes to your investment allocation. Firefighters and Police Officers employed after 2003 do not have account balances in this plan.

Pension Plan for Firefighters and Police Officers (closed, old Defined Benefit Plan) Contract Number 17222

  • Plan Document restated as of January 1, 2009
  • Proposed Amendment: The City will present a proposed First Amendment to City Council at the May 10, 2011, Council meeting. The Internal Revenue Service recently notified the City that this amendment must be adopted very shortly in order for the Plan to maintain its tax preferred status. The amendment does not impact contributions, benefits, or eligibility.

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ICMA-RC Payroll Roth IRA Account Number 705691

The City is now providing employees an additional way to save for retirement. Employees who enroll in a Payroll Deduction Roth IRA account with ICMA-RC will be able to make contributions to that Roth IRA account using payroll deductions. For more details click on the following.


Deferred Compensation Plan (457) Plan Number 300832

The City sponsors the 457 Deferred Compensation Plan (457 Plan) with ICMA Retirement Corporation (ICMA-RC) to help employees save for retirement. A 457 plan is a savings plan available to state and local government employees that allows an employee to save through payroll-deducted contributions on a pre-tax basis. This means the contributions are deducted from the paycheck before federal and state taxes are withheld and the amount of taxable income is reduced by the amount of the contribution. Earnings also accumulate on a tax-deferred basis. Taxes are paid on contributions and interest when money is withdrawn.

For those just starting out, payroll-deducted contributions can be as little as $10 per pay period and up to the annual deferral limit for the year. The Internal Revenue Service determines the maximum deferral limit each year.

  • Log onto the ICMA-RC website, www.icmarc.org, to view your account information, information on the funds, and to learn about investing. You will need to use the City Plan Number, 300832, the first time you log onto the website.
  • Forms and Publications (Plan Number 300832)
  • To request an Enrollment Kit, email: Email button(1) or call 703.746.3879.

Catch-Up Options 

Employees have two opportunities to catch-up on contributions that they did not make in the past.

  • Age-50 Catch-Up: Any employee who turns 50 or older during the year is eligible.
  • Pre-Retirement Catch-up: Available to employees who are eligible to retire within the next three years with an unreduced retirement benefit. The amount that you may actually contribute under this provision is determined by subtracting the actual amount you have already contributed from the maximum allowed. This provision is complicated for employees who wish to defer some or all of their leave payout at retirement.

    For more information on the Pre-Retirement Catch-Up and deferring leave payout, contact:
Pension Administration Division
301 King St., Room 1400
703.746.3879

The 457 Deferred Compensation Plan Catch-Up Provision Packet provides more information on the Age-50 Catch-up and the Pre-Retirement Catch-up provisions.

Change Your Contribution 

If you want to increase your contribution amount to the new deferral limit, or make any other change to your contribution amount, you will need to complete a 457 Deferred Compensation Plan Amount of Deferral Change Form. Complete the form with your new contribution amount and send it to:

Pension Administration Division
City Hall Room 1400
Box 42

Meet Your ICMA-RC Representative 

The City's ICMA-RC representative, Gloria Moody, is available to meet employees to discuss the 457 Plan. She makes appointments to meet employees at locations throughout the City. To arrange a meeting, call:

Gloria Moody
1.866.328.4666
Monday-Friday, 8:30 a.m. to 9 p.m.
 

 

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Social Security

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Retired Employee Information

Why am I receiving a W-2 if I am a City Retiree? This information applies to retirees who have City life insurance benefits.

Contact Prudential Retirement at 1.877.778.2100 from 8 a.m. to 9 p.m. if you have questions on your monthly benefit or 1099s (year end tax information); want to change your address, tax withholdings, or direct deposit information; or need to report the death of a retiree or a beneficiary receiving a monthly pension from one of the pension plans for Firefighters and Police Officers.

Contact Prudential Retirement at 1.877.778.2100 from 8 a.m. to 9 p.m. if you are still a participant in the Retirement Income Plan for Firefighters and Police Officers and have questions on this plan.

Contact Prudential Retirement at 1.877.778.2100 from 8 a.m. to 9 p.m. if you are receiving a monthly disability benefit paid by Prudential and you have questions on your monthly benefit or 1099s (year end tax information); or want to change your address, tax withholdings, or direct deposit information; or need to report the death of a retiree or a beneficiary receiving a monthly pension from one of the pension plans for Firefighters and Police Officers. Prudential began processing disability payments effective August 1, 2010. Prior to that SunTrust (1.866.855.6738) processed the disability payments.

Contact ICMA-RC at 1.800.669.7400 from 8:30 a.m. to 9 p.m. to inquire about the 457 Deferred Compensation Plan. Employees had the option of participating in this plan by making payroll-deducted contributions.

Contact the Pension Administration Division at 703.746.3885 for further information on the retirement plans.

Contact the Human Resources Benefits and Records Division at 703.746.3785 for inquiries on health and life insurance benefits. You may also find information on those benefits on the Human Resources website.

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301 King St.
Alexandria, VA 22314
703.746.3900
Fax: 703.838.4987
E-mail

Office Hours:
Monday - Friday
8 a.m. - 5 p.m.