Board Roles & Responsibilities
The governing body of the Retirement Fund is the Board of Trustees, consisting of 13 members appointed by the Fort Worth City Council and elected by the membership.
Mission and Vision of the Fund
Responsibilities for the Retirement Fund Board of Trustees
The Retirement Fund Board of Trustees is an important part of the city’s pension plan. Trustees are responsible for investment decisions and asset allocation of the Fund and, with the help of the Fund’s actuaries, for setting actuarial assumptions and recommending the monetary contributions needed from the city to meet these assumptions and fund benefits to members. In addition, Trustees evaluate and grant disability retirement pensions and death benefits for members and oversee Fund staff. Staff members collect contributions from the city and its employees and pay out benefits in accordance with retirement plan provisions.
The Retirement Fund Board does NOT control changes to benefits, which are controlled by the Fort Worth City Council, including the timing and scope of any benefit changes. The Retirement Fund is also not involved in personnel policy decisions that affect pensions benefits, including salary increases, promotions and overtime worked. Retirement Fund Trustees also do not control bargaining agreements with Civil Service groups regarding pay or benefits or the city’s health care benefits or funding.
Of course, Retirement Fund Trustees also do not control market fluctuations that affect the value of the Retirement Fund’s assets.
Board of Trustees Places/Elections
Place 1 represents all active Civil Service police personnel. The seat is held by an active, vested Civil Service police employee, who is elected in odd-numbered years.
Place 2 represents all active Civil Service fire personnel. The seat is held by an active, vested Civil Service fire employee, who is elected in even-numbered years.
Place 3 represents general employees in Employee Group C, which includes the following departments and personnel: City Manager, City Secretary, Financial Management Services, Human Resources, Internal Audit, Law, Municipal Courts, Planning & Development, Reprographics, Water and Waste Water, and non-Civil Service police employees. The seat is held by an active, vested employee in one of the above departments, who is elected in odd-numbered years.
Place 4 represents general employees in Employee Group D, which includes the following departments and personnel: IT Solutions, Housing & Economic Development, Library, Parks and Community Services, Public Events, Aviation, Code Compliance, Property Management, Transportation and Public Works and non-Civil Service fire employees. The seat is held by an active, vested employee in one of the above departments, who is elected in even-numbered years.
Place 5 represents all retired Civil Service fire personnel, or Retiree Group B. The seat is held by a retired Civil Service fire employee, who is elected in odd-numbered years.
Place 6 represents all retired Civil Service police personnel, or Retiree Group A. The seat is held by a retired Civil Service police employee, who is elected in even-numbered years.
Place 7 represents all retired general employees of the City of Fort Worth. The seat is held by a retired City of Fort Worth employee, who is elected in odd-numbered years.
Places 8 – 12 are represented by residents of the City of Fort Worth and are appointed by the Fort Worth City Council. Odd-numbered places are appointed in odd-numbered years and even-numbered places in even-numbered years.
Place 13 is the standing seat held by the Chief Financial Officer of the City of Fort Worth, who holds that Place for as long as he/she maintains that particular position with the city.
Expectations for Fund Board Members
- Board members are fiduciaries of the Retirement Fund and must adhere to a set of standards and responsibilities. All Board members are required to attend orientation and must participate in ongoing education courses throughout their terms in order to understand the full extent of their fiduciary responsibilities.
- Board members must attend one monthly regular Board meeting, held during a weekday. Committees also meet during the weekday. Board members have a choice of six committees on which to serve, including Audit, Communications, Disability, Investment, Legislative and Personnel.
To be eligible to run for Places 1 - 4, an employee must:
- Be an active, vested city employee at the time of the election;
- Be a member of the department/group which they wish to represent;
- Get at least 75 signatures of active members of the department/group they wish to represent (temporary employees' signatures do not count toward the 75 needed);
- Turn in the petition forms by the deadline announced by the Retirement Fund.
To run for Places 5 - 7, a retiree must:
- Be a retired city employee at the time of the election (being in the DROP does not count as being a retiree; the candidate must actually have separated from employment with the city and receive a monthly pension benefit);
- Get at least 25 nomination letters from retirees of the department/group they wish to represent (not including survivors and/or surviving spouses); the Retirement Fund mails nomination letters with forms to all retirees eligible for each specific election;
- Have all required letters submitted by the deadline announced by the Retirement Fund.
To be considered for Places 8 – 12,
- You must be a resident of the City of Fort Worth.
- You should contact your representative on the Fort Worth City Council.
The nominations process begins in late May when nominations forms are mailed to retirees and petition forms are made available to active members who wish to run for the Retirement Fund Board. The deadline for nominations is generally the last day of June.
In order to be nominated for Places 1, 2, 3 and 4, active employees must download a petition form from the Retirement Fund website, during the nomination period, fill it out and get at least 75 signatures of active members of the department/group they wish to represent (temporary employees' signatures do not count toward the 75 needed). Once you have gotten at least 75 signatures, the form must be turned in by the deadline announced by the Retirement Fund.
In order to be nominated for Places 5, 6 and 7, retirees must receive at least 25 nominations from retirees from their employee groups. The Retirement Fund will mail nomination forms to the specific group that is eligible to vote in that year’s election; i.e. in even-numbered years, all retired Civil Service police personnel will receive a nomination form in the mail. They fill out the forms with the nominee of their choice and return it to the Retirement Fund by the deadline announced by the Fund. A return envelope is included in the nominations mailing.
All active employees and retirees who are eligible to vote in that year’s election will receive a ballot in the mail from VR Election Services, a professional election company based in Dallas. Members can vote one of three ways: via phone, mail or digitally. Instructions are specified on the ballot, which also has a personal identification number for each voter (to avoid duplication of votes). All votes must be registered with VR Election Services by the date noted on the ballot and specified by the Retirement Fund.
The election generally begins in mid-July and ends mid-August. Elections results are delivered to the Fund’s Executive Director in late August and approved by the Board of Trustees at the August meeting. New and returning Board members are officially sworn in on Sept. 1.