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Redford Police & Firemen Retirement System
The Redford Police & Firemen Retirement System was created in 1957 to serve the sworn officers and firefighters of Redford Township, Michigan, a community of...
Redford Police & Firemen Retirement System
The Redford Police & Firemen Retirement System was created in 1957 to serve the sworn officers and firefighters of Redford Township, Michigan, a community of roughly 49,500 residents. The system operates under Michigan's Public Act 345 of 1937, a legal framework that governs pension funds for local police and fire departments. It is overseen by a five-member Board of Trustees, whose composition reflects the stakeholder structure typical of municipal plans — blending township appointees with representatives of active and retired personnel. Publicly available data on the system's asset allocation, investment strategy, and external manager roster is thin. The fund does not maintain a standalone investor website, and its governing body conducts business through the township's general municipal site. In the absence of a publicly filed investment policy, the portfolio's composition, its use of external consultants, and its exposure to alternatives remain undisclosed. No verifiable direct commitments to named private funds, co-investment vehicles, or infrastructure platforms were identified in the sources reviewed. No recent statements, board minutes, or press releases detailing the fund's size, actuarial health, or manager changes were captured. The township's website, which serves as the sole digital storefront for all municipal bodies including the pension board, does not itemize the retirement system's assets or provide investment reporting. The number of active members, beneficiaries, or the funded ratio of the plan are not public-facing through the channels reviewed. The fund's most durable structural attribute is its narrow mandate: it exists exclusively for the career police and fire employees of a single Michigan township. This insulates it from the complexity of state-level consolidation pressures or multi-employer pooling arrangements, while also exposing it to the demographic and revenue constraints of a suburban municipality with a static tax base. Succession in governance is statutory — trustees cycle through appointment and election under Act 345 rules rather than operating as a private family office or independent investment committee.
General information
Firm type
Pension Fund
Year founded
1957
Location
Region
North America
Country
United States
City
Redford
Corporate office
Redford, MI, United States
Frequently asked questions
Under what statutory authority does the Redford Police & Firemen Retirement System operate?
The System operates under Michigan’s Public Act 345 of 1937, which created a dedicated pension and retirement framework for municipal police officers and firefighters. Act 345 plans are governed by locally appointed boards and subject to state oversight through the Michigan Department of Treasury’s Municipal Stability Board when certain funding thresholds are crossed. The statutory framework defines board composition, benefit tiers, and the municipality’s obligation to make actuarially determined contributions.
Who governs the Redford Police & Firemen Retirement System?
A five-member Board of Trustees governs the System. By statute, the board includes the Redford Township supervisor and township clerk, plus one elected active police representative, one elected active fire representative, and one retired member representative. The board is responsible for hiring professional service providers, adopting investment policy, and certifying contribution rates.
Is the Redford Police & Firemen Retirement System a standalone investment entity or part of the township government?
It is a component unit of Redford Township, not a legally separate entity. The plan’s assets are held in trust and cannot be diverted for non-pension purposes, but the System does not have independent legal staff, procurement, or administrative infrastructure — it relies on the township for those functions. Its liabilities appear in the township’s annual comprehensive financial report and factor into the municipality’s broader fiscal condition.
What investment structure does the System use to deploy pension assets?
Act 345 boards in Michigan have broad statutory investment authority but typically do not self-manage portfolios. Based on common practice among comparably sized municipal plans, the board likely retains external investment consultants and allocates across commingled funds, separate accounts, and possibly a state-sponsored local-government investment pool. The System’s specific manager roster and asset-class exposures are not publicly disaggregated on the Redford Township website.
How does the funded status of the Redford Police & Firemen Retirement System affect the township budget?
The municipality is required by Michigan law to make annual contributions that satisfy the actuarially determined employer cost. If the plan is underfunded, the required contribution rises, directly competing with general-fund spending for police, fire, parks, and other services. Sustained underfunding can also trigger enhanced state oversight, including review by the Municipal Stability Board and, in extreme cases, intervention under Michigan’s emergency-manager statutes.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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