2024 Firefighter’s and Police Officer’s Pension Board Elections - Call for Nominations

Are you looking for a way to have an impact as an employee, learn more about investments and help to make investment decisions for one of the City’s pension plans, all while having your voice heard? The City of Alexandria Firefighter’s and Police Officer’s Pension Board is holding an election for one Firefighter participant representative and one Police Officer participant representative.

 Anyone who would like to be a nominee must submit a Nomination Petition to the Election Administrator by the deadline date of Friday, October 4, 2024.  The petition must be signed by at least twenty-five (25) Eligible Voting Participants.  Eligible Voting Participants include active, retired, and disabled firefighters or police officers covered under the Plan as well as those members who still have balances in the defined contribution plan. 

Please review the election information and instructions below.

• Announcement and Calendar 
• Election Procedures
• Contact Information
• Nominating Petition 
• Fiduciary and Plan Information
• Personal Statement 

NEW! Update to the City of Alexandria Supplemental Plan and the Firefighter and Police Officer’s Pension Plan:

Prudential, the recordkeeper for the City of Alexandria Supplemental Plan and the Firefighter’s and Police Officer’s Pension Plan is rebranding to Empower. You will start to receive communications from Empower announcing this transition. There are no changes to your plan benefits or the way you access the information currently including the website and phone number.

• The 2024 Cost of Living Adjustment (“COLA”) calculation has resulted in a COLA of 3%.  Click this link 2024 COLA to see how the annual COLA is calculated.  The COLA adjustment will begin in your May 2024 payment.  

Your Plan Administration Fee is being reduced for the City of Alexandria 457 Plan with MissionSquare

For more information please see click  here. 

Virtual Retirement Workshops for Employees Retiring in the Next Two Years

 Retiring in the next two years? Watch the Firefighters and Police Officers Pension Plan workshop hosted by the Finance Department's Pension Administration Division and Human Resources staff. This workshop was designed for employees covered under The Firefighters and Police Officer’s Pension Plan. The workshop took place on Thursday, July 22, 2021.

Topics included:

• Benefits under the pension plans and the 457 Deferred Compensation Plan
• Payment options under the plans including PLOP and DROP options
• Application process, deadlines, and time lags
• Options to contribute, or defer, leave payments to 457 Plan at retirement
• City retiree health and life insurance benefits and costs
• Leave balances eligible for payment at retirement

To view the retirement seminar that took place on July 22nd 2021 please click here. 

Webinars, Seminars, and Financial Planning Consultations with MissionSquare

MissionSquare the record keeper for the City 457 Deferred Compensation Plan and the Payroll deduct Roth IRA Plan offers education opportunities on a monthly basis. The webinars are conducted by MissionSquare’s team of Certified Financial Planners.

Please see the link below for all upcoming webinars.

• Click here to register

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 retirement@alexandriava.gov.  

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 retirement@alexandriava.gov or 703.746.3906, Virginia Relay 711.

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

• 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 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.

1. 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.
2. 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.
3. 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. 
4. 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!

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
• Plan Document as amended and restated as of January 1, 2009
  • First Amendment adopted by City Council June 22, 2010
  • Second Amendment adopted by City Council on May 10, 2011
  • Third Amendment adopted by City Council on May 10, 2011
  • Fourth Amendment adopted by City Council on June 26, 2012
  • Fifth Amendment adopted by City Council on October 22, 2013

DROP - Deferred Retirement Option Program 

Contribution Rates: Employee and Employer effective July 2010

Investment Police Statement, as amended June, 2024

Steps Involved in Filing for Disability Retirement benefits

• Service Connected Disability 
• Non-Service Connected Disability  

Disability Benefits Booklet 

Estimate retirement benefits by logging onto the Prudential website (plan's record keeper)

Forms

• Retirement Application 
• Beneficiary Designation Form 

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

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 at:703.746.3879 or  Kadira.Coley@alexandriava.gov.

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.

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.

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 11, 2024 -  Fire and Police Board Minutes , see recording here
• February 8, 2024 -  This meeting was canceled 
• March 14, 2024 -  Fire and Police Board Minutes, see recording here
• April 11, 2024 - Minutes will be posted once approved, see recording here
• May 9, 2024 -  Fire and Police Board Minutes, see recording here
• June 13, 2024 -  Minutes will be posted once approved, see recording here 
• July 11, 2024 -  Minutes will be posted once approved, see recording here
• August 8, 2024 -  Minutes will be posted once approved
• September 12, 2024 -  Minutes will be posted once approved
• October 10, 2024 -    Minutes will be posted once approved
• November 14, 2024 - Minutes will be posted once approved
• December 12, 2024 -   Minutes will be posted once approved

Minutes from Prior Years can be accessed HERE.

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 

Beginning in November 2013, MissionSquare 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.

• 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.

The City is now providing employees an additional way to save for retirement. Employees who enroll in a Payroll Deduction Roth IRA account with MissionSquare 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 MissionSquare
• Details on the Payroll Roth IRA 
• Brochure on the Payroll Roth IRA

The City sponsors the 457 Deferred Compensation Plan (457 Plan) with MissionSquare 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 MissionSquare website, 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: denise.cummings@alexandriava.gov or call 703.746.4291.
• Online Enrollment  directions. 

Catch-Up Options 

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

Pension Administration Division
301 King St., Room 1410
703.746.3879

• 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:

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 1410
Box 42

Meet Your MissionSquare Representative 

The City's MissionSquare representatives, Antoinette Guy-Wharton and Shantel Washington, are available to meet employees to discuss the 457 Plan. They will make appointments to meet employees at their locations or over the phone. To arrange a meeting or talk about the plan, call:

Antoinette Guy Wharton
1.866.283.1762
Monday-Friday, 8:30 a.m. to 9 p.m.
Email

Shantel Washington
1.202.759.7172
Monday - Friday, 8:30 a.m. to 9 p.m.
Email

For answers to questions or assistance with using the website call:

Investor Relations
1.800.669.7400
Monday-Friday, 8:30 a.m. to 9 p.m.

Forms and Publications 

• Forms and Publications (City Plan Number 300832

• Social Security Online 
• Social Security Wage Base table  

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 Empower 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 Empower 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 Empower Retirement at 1.877.778.2100 from 8 a.m. to 9 p.m. if you are receiving a monthly disability benefit paid by Empower 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. Empower began processing disability payments effective August 1, 2010. Prior to that SunTrust (1.866.855.6738) processed the disability payments.

Contact MissionSquare 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.