# City of Dearborn Police & Fire Revised Retirement System (Chapter 23)

City of Dearborn Police & Fire Revised Retirement System (Chapter 23) is a Pension Fund based in Dearborn, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Dearborn, United States
- **Region:** North America
- **Address:** Dearborn, MI, United States
- **Assets under management:** Undisclosed
- **Website:** cityofdearborn.gov

## Regulatory record

- **Reports private funds:** No

## About

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. 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.

## Sectors

- Real Estate
- Private Equity
- Infrastructure

## People

- Randa Dagher — Chairperson of the Board of Trustees
- Alan Brzys — Vice Chairperson of the Board of Trustees

## 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.

### 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.

## Related profiles

- [City of Dearborn General Retirement System (Chapter 22)](https://altss.com/profile/city-of-dearborn-general-retirement-system-chapter-22)
- [City of Dearborn Retirement System](https://altss.com/profile/city-of-dearborn-retirement-system)

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Last updated: 2026-08-11T02:43:31.692Z

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