# San Jose Police & Fire Retirement Plan

San Jose Police & Fire Retirement Plan is a Pension Fund based in San Jose, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** San Jose, United States
- **Region:** North America
- **Address:** San Jose, CA, United States
- **Founded:** 1946
- **Assets under management:** Undisclosed
- **Website:** sjpfrp.org

## Regulatory record

- **Reports private funds:** No

## About

The San Jose Police & Fire Retirement Plan administers pension benefits for sworn police officers and firefighters of San Jose, California. The plan is governed by a Board of Administration, chaired by Franco Vado with Andrew Gardanier serving as vice chair. John Flynn serves as the plan's Chief Executive Officer, managing operations of the public retirement system. The board also includes City Council Liaison George Casey, maintaining a direct line to municipal governance. Chief Investment Officer Prabhu Palani directs the plan's investment strategy, which includes a dedicated Private Markets Program with a global mandate. The pension fund allocates to venture capital, building exposure to innovation-stage companies as part of its long-term return strategy. Public pension disclosures indicate the plan has committed to several venture capital funds, participating as a limited partner in vehicles managed by established general partners. The portfolio spans direct fund commitments with a focus on US-based venture opportunities. The retirement plan operates from San Jose, serving a beneficiary base of retired first responders and their families. The Board of Administration oversees actuarial soundness and benefit distributions while the investment staff, led by Palani, manages asset allocation across public equities, fixed income, real assets, and the private markets program. The plan's venture capital commitments represent one component of a diversified institutional portfolio designed to meet long-term pension liabilities. The plan's structure as a municipal pension fund for police and fire personnel shapes its investment posture: a perpetual time horizon with liquidity requirements calibrated to an aging beneficiary base. This creates a structural differentiator from private family offices or endowments — the investment team balances return-seeking in private markets against the defined-benefit payout schedule for retired public safety officers, a liability stream with distinct actuarial characteristics.

## Sectors

- Venture Capital

## People

- John Flynn — Chief Executive Officer
- Prabhu Palani — Chief Investment Officer
- Franco Vado — Chair of the Board of Administration
- Andrew Gardanier — Vice Chair of the Board of Administration
- George Casey — City Council Liaison to the Board

## Questions

### Who runs investment decisions at San Jose Police & Fire Retirement Plan?

Chief Investment Officer Prabhu Palani directs the investment program under the oversight of the Board of Administration. The board is chaired by Franco Vado, with Andrew Gardanier as vice chair. CEO John Flynn handles plan operations, while the board holds fiduciary responsibility for asset allocation and policy decisions.

### What is the plan's investment time horizon?

As a defined-benefit municipal pension fund, the plan operates with a perpetual time horizon but must manage liquidity to meet monthly benefit payments to retired police and fire personnel. This creates a dual mandate: long-term capital appreciation through private markets allocations balanced against near-term liquidity needs for an aging beneficiary population.

### How is the plan governed?

A Board of Administration governs the plan, comprising representatives of plan members, the city, and the public. The board includes a chair, vice chair, and a city council liaison to ensure coordination with San Jose municipal government. Investment and administrative decisions are made within a public fiduciary framework subject to California pension law.

## Related profiles

- [San Jose Federated City Employees' Retirement System](https://altss.com/profile/san-jose-federated-city-employees-retirement-system)
- [San Jose State University Research Foundation](https://altss.com/profile/san-jose-state-university-research-foundation)

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Last updated: 2026-06-03T20:00:00.000Z

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