The Role of the Pension Commission
The Pension Commission consists of three voting members who are appointed by the Mayor to serve staggered three-year terms, which are renewable. The active members of the MERF elect a fourth non-voting employee representative for a three-year term. The Pension Commission, along with the City Treasurer and his staff, is responsible for the administration of the City`s Municipal Employees` Retirement Fund (the "MERF"), the 415(m) "Excess Benefit" Fund, the Fireman`s Relief Fund ("FRF"), Police Benefit Fund ("PBF"), the Retirement Allowance Fund ("RAF") and the City`s Deferred Compensation Plan (457 Plan).
The City Treasurer, in his role as Secretary of the Pension Commission, is custodian for and manages all the assets of the MERF, whether stocks, bonds, cash, annuities, real-estate holdings or other investments. The assets are managed in a prudent fashion as to ensure that sufficient income is generated by those investments to meet the City of Hartford’s current and future pension obligations.
The City of Hartford Pension Commission meets monthly in regular session, except for the month of August. All regular Pension Commission meetings begin promptly at 9:00 a.m. and are, of course, open to the public. The meetings take place at the City Conference Center at 260 Constitution Plaza, Hartford.