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City of Dearborn Retirement System
The City of Dearborn Retirement System provides pension and retiree healthcare benefits to the city's public workforce. The system is overseen by boards of...
City of Dearborn Retirement System
The City of Dearborn Retirement System provides pension and retiree healthcare benefits to the city's public workforce. The system is overseen by boards of trustees, with separate chapters for police and fire personnel and general municipal employees. Chairperson Randa Dagher leads the boards for both Chapter 22 and Chapter 23. Mayor Abdullah Hammoud holds appointment authority for the boards, while Carl Meyers served as chairman of the retirement system from 2008 to 2022. Publicly available details on asset allocation, specific investment managers, and direct holdings are scarce. The system likely adheres to the investment standards defined by Michigan state law for municipal pension funds. Its disclosed professional affiliations include the Michigan Association of Public Employee Retirement Systems (MAPERS), which provides governance and investment education. The City of Dearborn also belongs to the Conference of Western Wayne (CWW), renewed for the 2024/2025 term. Board meeting minutes and agenda materials, when available through the city, represent the primary window into investment decisions, manager searches, and actuarial performance for the plan. Like many smaller municipal public plans in Michigan, its structural differentiator is the governance model: a board of political appointees operating under state statute rather than a staffed internal investment office. This architecture makes board composition and adherence to state-level investment rules the central variables in portfolio oversight.
General information
Firm type
Pension Fund
Year founded
1929
Location
Region
North America
Country
United States
City
Dearborn
Corporate office
Dearborn, MI, United States
Principals
Randa Dagher
Chairperson of the Board of Trustees
Abdullah Hammoud
Mayor, City of Dearborn
Frequently asked questions
Who runs investment decisions at the City of Dearborn Retirement System?
The Board of Trustees, chaired by Randa Dagher for both the police/fire (Chapter 22) and general employee (Chapter 23) plans, holds fiduciary responsibility. Mayor Abdullah Hammoud holds appointment power over board seats. The system does not appear to have a standalone chief investment officer, with decisions likely guided by board vote and external consultants.
How does the City of Dearborn Retirement System source investment managers and strategies?
As a municipal plan, manager selection and asset allocation are typically determined through a public process involving an investment consultant and board approval. The system's membership in MAPERS (Michigan Association of Public Employee Retirement Systems) provides a network for evaluating managers, but specific consulting relationships are not publicly documented.
How is the retirement system structurally related to the City of Dearborn?
It is a governmental pension fund established under Michigan law and operated as a component unit of the City of Dearborn. The city's mayor appoints trustees, and the boards manage assets for participating city employees, but the trust assets are legally separate from general city operating funds.
What investment disclosures does the City of Dearborn Retirement System make?
The system does not widely publish detailed investment holdings or performance reports online. Its financial activity surfaces through city budget documents, board meeting minutes filed with the city clerk, and annual actuarial valuation reports required under Michigan's Public Act 202.
Does the City of Dearborn Retirement System invest in alternative assets?
Specific alternative investment commitments — such as private equity, real estate, or hedge funds — are not disclosed in a central public dashboard. Any such allocations would appear in board meeting materials or periodic investment consultant reviews presented to trustees.
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