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City of Dearborn Police & Fire Revised Retirement System (Chapter 23)
The City of Dearborn Police & Fire Revised Retirement System (Chapter 23) is a municipal pension fund providing retirement benefits to sworn police officers...
City of Dearborn Police & Fire Revised Retirement System (Chapter 23)
The City of Dearborn Police & Fire Revised Retirement System (Chapter 23) is a municipal pension fund providing retirement benefits to sworn police officers and firefighters of Dearborn, Michigan. Randa Dagher chairs the Board of Trustees, with Alan Brzys serving as vice chair. The system is funded through contributions from active members and the City of Dearborn as the plan sponsor, operating under Michigan state statutes governing local public safety pensions. The fund maintains a concentrated allocation to real assets and private markets. Known commitments include a position in PRISA, the Prudential Real Estate Investors open-end core property fund, alongside participations in KKR's global real estate platform and Alidade Capital's Fund V, a Detroit-area real estate fund. The system has also committed to the Entrust Special Opportunities Fund, which pursues control-oriented distressed and special situations investments. This mix suggests a strategy favoring income-producing real estate and opportunistic credit over broad public-equity indexing. The Board of Trustees governs investment policy and manager selection without a disclosed internal investment staff, typical for municipal plans of this size. The system participates in industry networks including the Michigan Association of Public Employee Retirement Systems (MAPERS) and the National Conference on Public Employee Retirement Systems (NCPERS), which provide education and advocacy for public plans. Recent meeting minutes or annual reports are not centrally published online. The plan's structure as a standalone police-and-fire system — separate from Dearborn's general municipal employees — insulates it from commingling with non-safety personnel liabilities. This segmentation, common in Michigan, allows the board to tailor actuarial assumptions and investment policy specifically to the demographic profile of public safety workers, who typically retire earlier and have distinct mortality and disability patterns.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Dearborn
Corporate office
Dearborn, MI, United States
Principals
Randa Dagher
Chairperson of the Board of Trustees
Alan Brzys
Vice Chairperson of the Board of Trustees
Sector focus
Frequently asked questions
Who governs the Dearborn Police & Fire pension system?
A Board of Trustees governs the system. Randa Dagher serves as Chairperson and Alan Brzys as Vice Chairperson. The board is responsible for investment policy, actuarial assumptions, and benefit administration for the city's sworn police and fire personnel.
What types of assets does the system invest in?
Based on known commitments, the system favors real estate and private market strategies. Positions include the PRISA core property fund managed by Prudential Real Estate Investors, KKR's global real estate vehicles, Alidade Capital Fund V — which focuses on Detroit-area properties — and the Entrust Special Opportunities Fund for distressed and special situations investments.
How is this pension fund different from Dearborn's general employee retirement system?
Chapter 23 is a standalone plan exclusively for police officers and firefighters. It is legally and actuarially separate from the system covering general municipal employees. This segmentation allows the board to set investment policy and contribution rates tailored to public safety personnel, who typically have earlier retirement eligibility and distinct longevity assumptions.
Does the system manage investments internally or use external managers?
The system uses external managers for its investments. There is no evidence of a dedicated internal investment staff. The Board of Trustees, supported by industry groups like MAPERS and NCPERS, selects and monitors outside fund managers for real estate, private equity, and special situations allocations.
What is the relationship between the City of Dearborn and the pension fund?
The City of Dearborn acts as the plan sponsor, contributing employer funds alongside member contributions from active police officers and firefighters. The pension board operates as a fiduciary, but the city's financial health and budgetary decisions directly affect the employer contribution rate and the plan's funded status.
Where can I find the system's financial reports or meeting minutes?
The City of Dearborn Police & Fire Revised Retirement System does not appear to maintain a standalone public website. Financial reports and board meeting materials are typically obtainable through Michigan's municipal transparency portals or by direct request to the city clerk's office, though central online publication is inconsistent for smaller municipal plans.
Is the pension fund open to new investment manager relationships?
The board's process for evaluating new managers is not publicly documented. Like most municipal plans, it likely issues RFPs through industry networks such as NCPERS and MAPERS, or through consultant relationships, when conducting searches. Unsolicited inquiries through the city's purchasing or finance department are the standard path.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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