The Police and Fire Retirement System of the City of Detroit Board of Trustees has elected Portia Roberson as its Board Chair for fiscal year 2016-17, it was announced today.
Roberson, who serves as a Board appointee of Mayor Michael Duggan, is the first ex-officio African-American woman to serve as Chair of the Board of the Detroit pension system. Roberson is an attorney and heads the Civil Rights and Ethics Division for the City of Detroit.
Roberson, who succeeds fire fighter Jeff Pegg, will serve a one-year term ending June 30, 2017 as Board Chair. Detroit Police Captain John Serda was elected Vice Chair of the Board, also for a one-year term. The Board’s fiscal year began July 1.
“I am honored to serve the members and beneficiaries in this leadership role as Chair at a time when we continue to establish best practices for operations and investments to make the Police and Fire Retirement System a model for the nation,” said Roberson. “The Board of Trustees is working very diligently to maximize returns for the pension system while also updating its technology and processes to better serve first responder retirees and their families who have contributed so much to Detroit.”
Roberson said she and the Trustees are “extremely grateful to Jeff Pegg for his leadership during the post-bankruptcy period, implementation of the Plan of Adjustment and good stewardship of the Police and Fire Retirement System.”
Outgoing Chairman Pegg, a fire fighter, who also served as President of the Detroit Fire Fighters Association during the City bankruptcy, will remain on the Board as a Trustee.
The PFRS Board is comprised of a 16-member Board of Trustees. The Board includes six elected active duty police and fire personnel (3 each); and two elected retired personnel (one each police and fire); one City Council designee appointed and seven ex-officio appointees of the City of Detroit, appointed by the duly elected Mayor. The Board oversees the $3.2 billion fund serving some 8,000 retired police and fire and approximately 3,500 active duty first responders.
Twice a month public meetings of the PFRS are held on Thursdays at 9 a.m. Minutes and meeting records are posted on the PFRS website at www.PFRSDetroit.org.
The Police and Fire Retirement System of the City of Detroit was founded under City Charter and is the fiduciary for the pensions of all police and fire personnel. As of 2016 there are some 3,500 active members and more than 8,000 retirees in the system. The PFRS is a separate entity from the city’s General Retirement System. For more information please visit http://www.PFRSDetroit.org.