# City of South Bend 1925 Police Officers' Pension Plan

City of South Bend 1925 Police Officers' Pension Plan is a Pension Fund based in South Bend, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** South Bend, United States
- **Region:** North America
- **Address:** South Bend, Indiana, United States
- **Founded:** 1925
- **Assets under management:** Undisclosed
- **Website:** https://www.southbendin.gov

## Regulatory record

- **Reports private funds:** No

## About

The City of South Bend 1925 Police Officers' Pension Plan was established in 1925 as a defined benefit pension plan for the city's police officers. The plan operates under the governance of a local board of trustees, chaired by Mayor James Mueller, with City Controller Dan Parker and Police Chief Scott Ruszkowski serving alongside. Financial oversight falls under the City of South Bend's administrative umbrella, with plan details reported in the City's annual comprehensive financial reports. Investment allocations skew heavily toward safety and liquidity. The portfolio consists primarily of cash and cash equivalents, US government agency securities, US Treasuries, and tax-exempt municipal bonds. Indiana statute restricts the investment options for local police and firefighter pension funds, limiting exposure to public equities or private alternatives that larger state-level plans commonly access. The plan also participates in the Indiana Public Retirement System's (INPRS) Local Public Safety Pension Relief Fund, a state-administered mechanism designed to supplement locally managed public safety pensions. The plan's exact asset size is not publicly disclosed in standalone form, and no dedicated investment staff appears on public filings — the City Controller administers the fund's financial operations. The fund's defining structural feature is its statutory confinement to a narrow band of fixed-income instruments. This regulatory architecture eliminates manager-selection complexity and removes the plan from the private-funds marketplace entirely. For external managers and GPs, the plan represents a non-target — its investment posture is dictated by Indiana Code rather than by discretionary asset allocation decisions.

## Sectors

- Fixed Income
- Municipal Bonds

## People

- James Mueller — Mayor, President of the Board of Trustees
- Dan Parker — City Controller, Board Member
- Scott Ruszkowski — Chief of Police, Board Member

## Questions

### Who makes investment decisions for the South Bend Police Officers' Pension Plan?

Investment decisions are governed by a local board of trustees that includes Mayor James Mueller as president, City Controller Dan Parker, and Police Chief Scott Ruszkowski. The plan does not employ a dedicated chief investment officer or external consultant — the City Controller manages financial administration. Indiana statute prescribes the permitted asset classes, leaving little discretion for active portfolio management.

### What does the plan invest in?

The portfolio is concentrated in cash and cash equivalents, US government agency securities, US Treasuries, and tax-exempt municipal bonds. Indiana Code limits local police and firefighter pension funds to a narrow set of fixed-income instruments. The plan does not hold public equities, private equity, hedge fund commitments, or real assets.

### How is the plan related to the Indiana Public Retirement System?

The plan participates in the Local Public Safety Pension Relief Fund administered by INPRS. This state-level program provides supplemental funding to locally managed police and firefighter pension plans across Indiana. It does not mean INPRS manages the plan's assets — the South Bend board retains local control over its own portfolio within statutory limits.

### Where does the plan's funding come from?

Funding derives from a combination of employer contributions from the City of South Bend, employee contributions from plan members, and investment earnings on the fixed-income portfolio. The plan also receives supplemental distributions from the Indiana Public Retirement System's Local Public Safety Pension Relief Fund. Its financial position is reported annually within the City of South Bend's comprehensive financial statements.

## Related profiles

- [City of Sioux Falls Pension and Health Care Trust Funds](https://altss.com/profile/city-of-sioux-falls-pension-and-health-care-trust-funds)
- [City of South Bend 1937 Firefighters' Pension Plan](https://altss.com/profile/city-of-south-bend-1937-firefighters-pension-plan)

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

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