Police Officers’ and Firefighter's Pension Board and Required Disclosures
Administration and responsibility for the Police Officers' and Firefighters' Pension Plan is vested with the Board of Trustees ("the Board"). The Board has a fiduciary responsibility to the plan and its participants and, as such, must exercise prudent judgment in its oversight and administration of the pension fund. Florida Statutes Chapters 175 and 185 requires the Board be comprised of five trustees serving concurrent two-year terms. The Board is made up of two City residents appointed by the City Commission, one police officer member, and Firefighter member elected by a majority of the actively employed plan participants and one member chosen by a majority of the other four members and ministerially appointed by the City Commission. By majority vote, trustees elect from among themselves a chairman and secretary.