City of Alexandria, VA
Firefighters and Police Officers
None are scheduled at this time. Please check back often for updates.
Retirement Summary and Retirement Planning
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.
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.
Participant Representatives to the Board Reelected; Management Representatives Recommended to Serve Beginning January 1, 2012
On September 11, 2012, City Council appointed the Management Representatives recommended by the City Manager and the Participant Representatives that participants elected in August. The following is Item Number 6 from the Docket minutes:
City Council appointed the following individuals to the City of Alexandria Firefighters and Police Officers Pension Board: Tom Gates, Deputy City Manager, as Management Representative; Jean Niebauer, Director of Human Rights, as the Management Alternate; Michael Cross, as Firefighter Participant Representative; and Albert Tierney, as Police Participant Representative.
Click HERE to see a listing of all Board members.
Election of a Firefighter Representative anad Firefighter Alternate to serve through December 31, 2014
The firefighters held an election to fill the vacant representative position on the Fire and Police Board. The nomination period was closed on Thursday, November 7, 2012. Following the nomination period, the Pension Administration Division received two complete and valid nomination petitions. Both candidates chose to run for different positions and thus ran unopposed. The election procedures adopted by the Board allow us to skip the formal balloting process when candidates run unopposed, so there will be no formal voting process.
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.
*These dates are set aside if a special meeting is needed for manager interviews, Board education, etc. In the absence of an event, no meeting will be held.
For more information on any of these meetings, contact Steven Bland by e-mail or by phone at 703.746.3886
The Firefighters and Police Officer's Pension Plan Board has adopted the following procedures. Please see the following links to review these procedures.
Log onto the Prudential 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
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.
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.
Employees have two opportunities to catch-up on contributions that they did not make in the past.
Pension Administration Division
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
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 on the first Wednesday of every month in City Hall Room 1600. She will also make appointments to meet employees at other locations if arranged in advance. To arrange a meeting, call:
Now is the time to take a minute to review your participation in the City’s 457 Deferred Compensation Plan!
Did you know the IRS recently increased the annual deferral limit for 2013 for both the City’s 457 Deferred Compensation Plan and ROTH IRA? Click here to see the new table of annual limits. Click here to download a Change of Amount Form. Note, you do not need to complete this form if you would like your deferral amount to remain at its current level.
Did you know that the City will be offering a new fund effective December 21, 2012? We will be offering the Vantagepoint Milestone 2050 Fund. Click here to see additional details about the City’s target date funds. Click here to see a comprehensive list of investment options offered to the City’s 457 plan participants.
Are you still trying to decide if participating in the City’s deferred compensation plan will work for you? Click here to see a video about the advantages of participating in the plan.
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.