Norfolk (VA) Employees' Retirement System

Norfolk (VA) Employees' Retirement System

Norfolk (VA) Employees' Retirement System was established in 1942 as the retirement vehicle for City of Norfolk employees, excluding constitutional officers and school board staff. It operates as a single-employer defined benefit plan administered by its Board of Trustees. The fund maintains target allocations including 52% global public equities, 5% real estate, and 5% private equity. Confirmed holdings include commitments to JP Morgan Asset Management Strategic Property Fund, UBS Trumbull Property Fund, NexPhase Capital Fund V, Vitruvian Investment Partnership V, Lexington Capital Partners X, Flagship Pioneering Fund VIII, and KPS Special Situations Fund VI. Geographic exposure spans the United States and Europe. Meketa Investment Group serves as investment advisor and State Street Bank acts as custodian. The system maintains membership in the Government Finance Officers Association and National Association of Public Pension Attorneys. Governance rests with the ten-member Board of Trustees, with ex-officio participation from the City Manager and Director of Finance.