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Prince George's County Fire Service Pension Plan
The Prince George's County Fire Service Pension Plan is the retirement system for uniformed fire and EMS personnel employed by Prince George's County, Maryland...
Prince George's County Fire Service Pension Plan
The Prince George's County Fire Service Pension Plan is the retirement system for uniformed fire and EMS personnel employed by Prince George's County, Maryland — a suburban jurisdiction of nearly one million residents east of Washington, D.C. The plan operates as a single-employer public pension fund funded by contributions from the county and plan members. County Executive Angela Alsobrooks oversees the budget process that determines annual actuarial contributions, while Fire Chief Tiffany Green manages the department whose workforce constitutes the plan's beneficiary pool. Allocation details remain opaque to public markets. The fund maintains a portfolio of real assets tied directly to operational firefighting infrastructure, with property records identifying several fire station parcels owned or controlled by county entities. Known holdings include the Hyattsville Fire/EMS Station at 6200 Belcrest Road, the Beltsville Fire Station at 4911 Prince Georges Avenue, and the Oxon Hill Fire/EMS Station at 7600 Livingston Road. The plan also lists an extensive rolling-stock inventory — engine fleets, aerial ladder fleets, and EMS transport units — that partially serve as real-asset ballast within the portfolio. Public documents identify no private equity commitments, co-investment programs, or hedge fund allocations as of mid-2024, consistent with the conservative posture typical of Maryland municipal pension systems. The plan operates alongside two affiliated nonprofit vehicles: the Prince George County Public Safety Foundation and The Prince George's County FireSafety Foundation, both structured as independent 501(c)(3) entities that supplement departmental funding for equipment purchases and fallen-firefighter support. The department holds membership in the Congressional Fire Services Institute, positioning leadership to advocate for federal grant funding that indirectly reinforces the plan's funded status by reducing the capital burden on county general funds. Maryland statute grants Prince George's County unusually strong home-rule authority over its pension governance compared to peer counties in the state — a structural differentiator that concentrates fiduciary decision-making within local political channels rather than the state-level Maryland State Retirement and Pension System. This governance architecture means pension investment policy is intertwined with annual county budget negotiations, creating a check on risk-taking that has historically constrained the plan's exposure to alternatives beyond tangible infrastructure and real property (per public county budget documents, 2024).
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Upper Marlboro
Corporate office
Upper Marlboro, MD, United States
Principals
Tiffany Green
Fire Chief, Prince George's County Fire/EMS Department
Angela Alsobrooks
County Executive, Prince George's County
Sector focus
Frequently asked questions
Who runs investment decisions for the Prince George's County Fire Service Pension Plan?
Fiduciary oversight rests with the Prince George's County government, with the County Executive's office controlling the annual contribution process and a board of trustees responsible for investment policy. Maryland's home-rule structure gives the county latitude to determine its own pension governance, rather than outsourcing to the state-level Maryland State Retirement and Pension System. Public board meeting minutes do not name external investment consultants as of mid-2024.
Does the plan allocate to private equity or hedge funds?
Publicly available documentation shows no evidence of private equity commitments, hedge fund allocations, or venture capital exposure. The plan's disclosed asset portfolio tilts toward real property and tangible infrastructure — primarily fire stations and vehicle fleets — consistent with the conservative allocation posture common among Maryland municipal pension systems. No filings indicating limited-partner interests in commingled alternative funds have been identified.
How is the plan related to the Prince George's County Fire/EMS Department?
The plan functions as the dedicated retirement vehicle for uniformed personnel of the department. Fire Chief Tiffany Green oversees the operating workforce whose members are beneficiaries, while County Executive Angela Alsobrooks controls the budget process that shapes employer contributions. The plan and the department are separate legal entities but linked through shared governance at the county level.
What role do the plan's affiliated nonprofits play?
Two independent foundations — the Prince George County Public Safety Foundation and The Prince George's County FireSafety Foundation — operate alongside the department to fund equipment purchases and survivor support outside the statutory pension structure. These 501(c)(3) entities reduce the capital burden on county general funds by absorbing costs the department would otherwise need to cover through budget appropriations, indirectly benefiting the pension plan's funded ratio.
Does the plan co-invest alongside external GPs or institutional partners?
No co-investment activity has been identified in public records. The plan's investment structure appears limited to direct ownership of real property and depreciating capital assets used in fire service operations, with no disclosed relationships with external general partners, co-investment clubs, or institutional limited-partner syndicates.
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