An important part of my job is to keep you informed and help you understand how my office operates and my role in administrating the pension plan and investing the plan’s assets. This is critically important to Hartford tax payers as it allows us to maintain favorable bond rating, which means we can borrow money at lower costs, thereby saving tax payers money.
The Pension Fund assets are approximately $1 billion, despite volatile markets. Municipal Employees` Retirement Fund "MERF" members and City taxpayers alike can be proud that Hartford is the largest municipal pension fund in Connecticut and the City of Hartford is committed to fully funding the recommended annual contributions.
The Treasury Office establishes policies, develops programs and implements procedures designed to enhance the financial integrity and soundness of the City’s fiscal operations; including the management of both the City’s operating cash and the MERF’s assets.
The Treasurer is one of four city-wide elected officials in the City of Hartford, with the Mayor, Council and the Registrar(s) Voter(s) being the others.