Transition of Pension Plan Administration
Summary
The retirement board needed to hire a new third-party administrator after the city moved away from in-house pension management. Trustees weighed the costs, technology, and service quality of three competing firms before selecting Foster & Foster.
At a glance
- Total mentions
- 3
- Last 30 days
- 0
Last discussed Jun 29, 2026.
Impact analysis
The approved retainer with Foster & Foster is $7,083 monthly, with additional costs for specific reports and benefit payment processing.
Police officers and retirees will benefit from dedicated administrative support, secure member portals, and experienced plan oversight.
City residents and taxpayers might end up footing the bill if the budget gets stretched too thin.
Mentions & discussions (4)
General Employees' Retirement Fund Board of Trustees — June 29, 2026
The retirement board is transitioning pension administration duties away from the city to an external third-party administrator to handle member services, benefit calculations, and payments. The board evaluated three firms before selecting Resource Centers to streamline operations and relieve city staff of day-to-day pension tasks.
Firefighters' Retirement Fund Board of Trustees — June 29, 2026
The Firefighters' Retirement Fund Board is evaluating five different third-party firms to take over daily pension administration, benefit calculations, and payroll following the departure of city administrator Alicia Jacobs. Trustees must weigh costs, technological capabilities like member portals, and whether to choose a boutique administrator, an actuarial firm, or a comprehensive accounting firm.
Police Officers' Retirement Fund Board of Trustees — June 29, 2026
The retirement board needed to hire a new third-party administrator after the city moved away from in-house pension management. Trustees weighed the costs, technology, and service quality of three competing firms before selecting Foster & Foster.
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