# City of Birmingham Retirement and Relief System

City of Birmingham Retirement and Relief System is a Pension Fund based in Birmingham, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Birmingham, United States
- **Region:** North America
- **Address:** Birmingham, AL, United States
- **Assets under management:** $500M – $1B (Altss estimate)
- **Website:** birminghamal.gov/pension

## Regulatory record

- **Reports private funds:** No

## About

The City of Birmingham Retirement and Relief System provides defined-benefit pensions for municipal employees of Alabama's second-largest city. Mayor Randall Woodfin serves as Chairman of the Board of Managers, with oversight shared among mayoral appointees, personnel board delegates, and a retiree representative — including CFO Diana L. Bolden and retiree appointee Dexter Cunningham. The system covers city workers alongside employees of participating entities such as the Birmingham Airport Authority and the Jefferson County Department of Health. The fund's asset allocation extends beyond traditional public-markets exposure. Confirmed positions include the Starwood Real Estate Income Trust and Brixmor Property Group, alongside a dedicated GSE bonds portfolio. The system has also pursued recoveries through securities litigation, serving as lead plaintiff against SAC Capital Advisors in a landmark insider-trading settlement and as lead plaintiff in a derivative action against Meta Platforms' board — a posture that turns enforcement into a direct return mechanism. In September 2024, retiree representative Dexter Cunningham continued his term on the Board of Managers, maintaining direct beneficiary oversight as the system navigated post-rate-hike real estate valuations. The fund receives administrative support from the City of Birmingham Finance Department and has earned the Government Finance Officers Association's Distinguished Budget Presentation Award for its fiscal reporting standards. The pension's structural identity is defined by its dual role as both fiduciary and securities-enforcement actor. Rather than outsourcing litigation claims to class-action aggregators, the Birmingham fund has repeatedly sought lead-plaintiff status itself — converting governance failures at firms like SAC Capital and Meta into direct recoveries that reduce the burden on municipal contributions.

## Sectors

- Real Estate
- Private Credit
- Hedge Funds

## People

- Randall Woodfin — Mayor of Birmingham and Chairman of the Board of Managers
- Diana L. Bolden — Chief Financial Officer of the City of Birmingham and Board Member
- Kenneth Crenshaw — Personnel Board Appointee, Board of Managers
- Dexter Cunningham — Retiree Representative, Board of Managers

## Questions

### Who runs investment decisions for the Birmingham pension?

The Board of Managers holds fiduciary authority over investment policy, chaired by Mayor Randall Woodfin. The City of Birmingham Finance Department handles day-to-day investment management and pension administration. Board members include the CFO, a personnel board appointee, and a retiree representative who ensure employer and beneficiary interests are directly represented.

### What is the pension's posture on securities litigation?

Birmingham has served as lead plaintiff in high-profile securities actions against SAC Capital Advisors and Meta Platforms. This strategy treats governance enforcement as a direct recovery mechanism — rather than passively joining class-action settlements, the fund seeks lead-plaintiff status to influence litigation strategy and maximize recoveries for the plan.

### Which employers participate in the Retirement and Relief System?

The City of Birmingham is the primary contributing employer. Additional participating employers include the Birmingham Airport Authority and the Jefferson County Department of Health. The system covers municipal workers across multiple public-service agencies in the Birmingham metro area.

### How is the pension board governed?

The Board of Managers includes the Mayor as Chair, the City CFO, an appointee from the Personnel Board, and a retiree representative elected by beneficiaries. Terms are staggered — Kenneth Crenshaw's current appointment runs through 2028. This structure balances mayoral oversight with independent personnel and retiree representation.

## Related profiles

- [Archdiocese of St. Louis](https://altss.com/profile/archdiocese-of-st-louis)
- [Providence Health & Services and Swedish Health Services Master Retirement Trust](https://altss.com/profile/providence-health-services-and-swedish-health-services-master-retirement-trust)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/city-of-birmingham-alabama

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology