City of Taylor Police & Fire Retirement System

City of Taylor Police & Fire Retirement System

The City of Taylor Police & Fire Retirement System was created in 1937 under Michigan Public Act 345 to provide pension and survivor benefits for the city's police officers and firefighters. It operates as a single-employer public pension fund sponsored by the municipal government of Taylor, Michigan, with a five-member Board of Trustees that includes one police representative, one fire representative, and the City Treasurer. The plan's investment strategy leans into alternatives, primarily through real estate partnerships and secondaries. External relationships include real estate managers American Realty Advisors, Intercontinental Real Estate, Metropolitan Real Estate, and TA Realty, alongside a position with Bloomfield Capital — a specialist in private credit and real estate bridge lending. The geographic footprint concentrates on US commercial and mixed-use properties, with secondary-market exposure offering a potential liquidity sleeve within the otherwise illiquid private portfolio. The fund participates in the Michigan Association of Public Employee Retirement Systems (MAPERS), which connects it to peer pension plans across the state for educational and networking purposes. The board is chaired by Nicolas Hill, with City Treasurer Michelle Tocco serving as a trustee — a structure that embeds municipal fiscal oversight directly into the pension's governance. The system's key structural feature is its statutory basis under a 1937 Michigan act, which governs benefit calculations, board composition, and fiduciary duties. This creates a fixed governance architecture distinct from more flexible private-sector plans, with benefit levels and funding ratios subject to collective bargaining agreements between the City of Taylor and its police and fire unions.