- The Firefighters and Police Officers Pension Board meeting scheduled for Thursday, June 11th with be held virtually. Please see the Pension Plan Retirement Board section below for details on how to participate in the meeting.
- The 2020 Cost of Living Adjustment (“COLA”) calculation has resulted in a COLA of 2.49%. Click this link 2020 COLA to see how the annual COLA is calculated. The COLA adjustment will begin in your May 2020 payment.
Seminars, Workshops, and Webinars
Webinars, Seminars, and Financial Planning Consultations with Steven Taylor
Steven Taylor, a Certified Financial Planner from ICMA-RC, and the Pension Administration Division will be providing seminars and individual consultations to employees throughout the year on a variety of retirement and general financial topics. ICMA-RC is the record keeper for the City 457 Deferred Compensation Plan. Due to the situations of COVID-19 Seminars will be done remotely as webinars.
"Women and Money"
Today, more women than ever are responsible for their financial well-being, and the well-being of their families. But women often face unique financial challenges. That's why it's so important that no matter what life stage they're in, women know how to save, invest, and plan for their future.
Thursday, June 11, 2 p.m.
Friday, June 12, 10 a.m.
"How to Pay off and Prevent Debt"
Don’t let debt weigh you down. You need a plan to pay it down wisely and in a way that doesn’t negatively impact your other financial goals.
Tuesday, June 16, 2 p.m.
Thursday, June 18, 10 a.m.
Once you register for the event, information on how to access the webinar as well as a confirmation of registration will be sent to you via email.
Please contact the Pension Administration Division if you have any questions firstname.lastname@example.org.
Be sure to obtain advance approval from your supervisor if you plan to attend a workshop during your schedule work hours.
For reasonable disability accommodation, contact email@example.com or 703.746.3887, Virginia Relay 711.
Retirement Summary and Retirement Planning
- The Retirement Checklist provides information on steps you must follow to retire from the City retirement plans with estimated due dates.
- Planning for Retirement Handbook
City Council Adopts First Amendments to the City of Alexandria Firefighters and Police Officers Pension Plan
City Council adopted the First Amendment to the City of Alexandria Firefighters and Police Officers Pension Plan (Plan) at the October 9, 2018 Council meeting. The proposed amendment contains changes to twenty-two sections of the Plan. The changes are summarized in the four points below.
- Purchase of Service – amends the Plan to allow participants to purchase service for prior service as a public safety officer, active duty military service and other City of Alexandria employment. See section below titled Purchasing Service Credit.
- Active Duty Military Leave – amends the Plan to clarify that the City pays the contributions, both employee and City, for the cost of pension credit for active duty military leave. The Plan already states that participants who are on an Authorized Leave of Absence due to being deployed on active duty military leave shall receive pension service credit for the period of the Authorized Leave of Absence to the extent required by the Uniformed Service Employment and Reemployment Rights Active of 1994, as amended and Section 414(u)of the Internal Revenue Code or any other law.
To receive pension credit for active duty military leave, participants must provide the Pension Administration Division a copy of all orders prior to the Authorized Leave of Absence and a copy of the DD214 upon completion of the service.
- Forfeiture of Benefits – amends the Plan to allow the forfeiture of pension benefits payable by the Plan when a participant is convicted of a felony that arises out of the performance of their duties for the City.
- Technical Corrections – amends the Plan for fifteen changes that are technical in nature. These proposed changes have no impact on benefits and will result in no improvement or reduction of benefits. The changes align the plan document with current plan administrative practices.
MEMO: Purchase of Service Credit - NEW!
Firefighters and Police Officers Pension Plan Contract Number 17147
Plan Documents and Amendments
- Plan Document as amended and restated as of January 1, 2014
- First Amendment adopted by City Council on October 9, 2018
- First Amendment adopted by City Council on October 9, 2018
- Plan Document as amended and restated as of January 1, 2009
Contribution Rates: Employee and Employer effective July 2010
Investment Policy Statement, as amended January 14, 2016
Steps Involved in Filing for Disability Retirement benefits
Estimate retirement benefits by logging onto the Prudential website (plan's record keeper)
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.
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.
If you are interested in more information on the PLOP, please contact the Pension Administration Division at:703.746.3879 or Kadira.Coley@alexandriava.gov.
Pension Plan Retirement Board
|Member||Term Ends||Member||Term Ends|
| Michael Cross (Chairman/Fire)
||December 31, 2020||Rick Muse (Fire - Alternate)||December 31, 2022|
|Shari Davidson (City - Alternate)||Appointed by the City Manager||Jason North (Police)||December 31, 2020|
|Patrick Evans (Fire)||December 31, 2022||Philip Pugh (City)||Appointed by the City Manager|
|Jean Kelleher (Secretary/City)||Appointed by the City Manager||Laura B. Triggs (City)||Appointed by the City Manager|
|Shirl Mammarella (Police - Alternate)||December 31, 2022||Sharon Vaughan-Roach (City)||Appointed by the City Manager|
|Edward Milner (Police)||December 31, 2022|
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.
|January 9, 2020||Thursday||8:45 a.m.||Interim Meeting||Sister Cities 1101|
|February 13, 2020||Thursday||8:45 a.m.||Interim Meeting||Sister Cities 1101|
|March 12, 2020||Thursday||8:45 a.m.||Due Diligence Meeting||Sister Cities 1101|
|April 9, 2020||Thursday||8:45 a.m.||Interim Meeting||Sister Cities 1101|
|May 14, 2020||Thursday||8:45 a.m.||Interim Meeting||Sister Cities 1101|
|June 11, 2020||Thursday||8:45 a.m||Due Diligence Meeting
||Meeting Held Virtually See Recording Here|
|July 9, 2020||Thursday||8:45 a.m.||Board Retreat
||Sister Cities 1101|
|August 13, 2020||Thursday||8:45 a.m.||Interim Meeting
||Sister Cities 1101|
|September 10, 2020||Thursday||8:45 a.m.||Due Diligence Meeting||Sister Cities 1101|
|October 8, 2020||Thursday||8:45 a.m.||Interim Meeting||Sister Cities 1101|
|November 12, 2020||Thursday||8:45 a.m||Interim Meeting
||Sister Cities 1101|
|December 10, 2020||Thursday||8:45 a.m||Due Diligence 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)
January 9, 2020 - Fire and Police Board Minutes
February 13, 2020 - This meeting was cancelled
March 12, 2020 - Minutes will be posted once approved
April 9, 2020 - This meeting was cancelled
May 14, 2020 - This meeting was cancelled
June 11, 2020 - Minutes will be posted once approved
July 9, 2020 - This meeting was cancelled
August 13, 2020 - This meeting was cancelled
September 10, 2020 - Minutes will be posted once approved
October 8, 2020 - Minutes will be posted once approved
November 12, 2020 - Minutes will be posted once approved
December 10, 2020 - Minutes will be posted once approved
Minutes from Prior Years can be accessed HERE.
The Firefighters and Police Officers Pension Plan Board is comprised of two representatives and an alternative elected by Firefighters and two representatives and an alternate elected by Police Officers plus four City management representatives and an alternate appointed
by the City Manager. The purpose of the Board is to oversee the investments of the retirement plans. The Board may also recommend Plan changes for the City Manager to propose to City Council.
Nominations are now open for a police officer representative. You must complete the nominating petition with at least 25 valid signatures to be considered an eligible nominee. Nomination petitions must be completed and returned by March 8, 2019. Please see the attachments below for additional details:
- Announcement and Calendar - Letter sent to all participants announcing elections and calling for nominations
- Nominating Petition - complete to be nominated for a position on the board
- Election Procedures - detailed procedures on the election process
If you have any questions regarding the Firefighters and Police Officer Pension Board elections contact pension staff at 703.746.3906 or email: firstname.lastname@example.org
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.
- Election Procedures
- Interest Rate Policy on Overpayments/Underpayments
- Rules of Procedures for the Board of Trustees
- Training and Education Policy Guidelines, Procedures and Expense Limitation
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 record keeper) 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 presented 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.
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.
- Informational Video on the Payroll Roth IRA and ICMA-RC
- Details on the Payroll Roth IRA
- Brochure on the Payroll Roth IRA
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: Sergey.Zelensky@alexandriava.gov or call 703.746.3886.
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
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
Meet Your ICMA-RC Representative
The City's ICMA-RC representative, Kevin Parker, is able to meet employees to discuss the 457 Plan. He makes appointments to meet employees at locations throughout the City. To arrange a meeting, call:
Monday-Friday, 8:30 a.m. to 9 p.m.
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.