Supplemental Retirement System for Police Officers and Fire and Rescue

Supplemental Retirement System for Police Officers and Fire and Rescue

The Supplemental Retirement System for Police Officers and Fire and Rescue operates as a single-employer defined benefit plan serving uniformed personnel in Prince William County, Virginia. It exists as a local supplement to the Virginia Retirement System, providing additional retirement and death benefits to the county's police officers and firefighters. The plan's governance flows through the Prince William Board of County Supervisors, chaired by Deshundra Jefferson, with County Executive Christopher Shorter and CFO Michelle Attreed holding key administrative roles. The fund's investment mandate spans buyouts, distressed debt, venture capital from seed to late stage, fund-of-funds commitments, mezzanine lending, special situations, and diversified commodity exposure. Its direct real-asset holdings include the Mike Pennington Scenario-Based Training Center and the Public Safety Training Center expansion in Nokesville, plus historic land assets like Rippon Lodge in Woodbridge and Bushy Park in Catharpin — blurring the line between portfolio assets and community infrastructure. Confirmed memberships in the Government Finance Officers Association and the Northern Virginia Regional Commission signal a peer-network approach to governance. Prince William County received GFOA's Certificate of Achievement for Excellence in Financial Reporting, a marker of transparency standards applied to this plan alongside the county's broader financial operations. The Northern Virginia Transportation Commission affiliation connects the fund to regional infrastructure planning, aligning with its real-asset holdings. While the plan does not publicly disclose a dedicated investment staff headcount, its strategy executes through the county's finance department under Attreed's direction. The plan's structural distinctiveness lies in its dual-layer design — it does not replace the state-level VRS pension but stacks additional benefits on top for a narrow class of public-safety employees. This creates a liability profile tied to a specific, physically demanding workforce, and the fund's asset mix reflects an attempt to generate excess returns to cover that supplemental obligation without overloading the county's general budget.