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Town of Farmington Pension Trust Fund
The Town of Farmington Pension Trust Fund was established by the Farmington Town Council on August 28, 1956, as the municipal defined-benefit plan for the...
Town of Farmington Pension Trust Fund
The Town of Farmington Pension Trust Fund was established by the Farmington Town Council on August 28, 1956, as the municipal defined-benefit plan for the Connecticut suburb's public-sector workforce. The five-member Retirement Board governs the plan; Chair Dave Wlodkowski and member Bruce Polsky both serve on the Town Council, while member Joan Valenti runs her own registered investment advisory firm, Valenti Wealth Management. The board's composition ties fiduciary oversight directly to elected municipal governance. The fund's disclosed asset base reflects a hybrid of traditional pension investments and a notable direct real estate holding. In 2017, the City of Hartford transferred 86 acres of vacant residential-zoned land at 8261 Fienemann Road in Farmington to the pension trust as part of a financial settlement between the two municipalities. The land, adjacent to the fund's existing pension plan fiduciary net position, represents a direct real-asset exposure uncommon among similarly sized municipal plans. Beyond this parcel, the fund's broader portfolio allocation and any external manager relationships are not publicly detailed. Team specifics remain thin. The Retirement Board consists of named town officials and local financial practitioners — Valenti's advisory background and board member Robert Gary Brochu's tax-services ownership suggest a blend of municipal governance and private-sector financial experience at the trustee level. The Town of Farmington regularly receives the Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting, indicating disciplined financial disclosure practices at the plan-sponsor level, though the pension trust's separate investment reporting has not been made publicly accessible. What distinguishes the Farmington plan structurally is not scale but asset composition — the direct ownership of developable residential acreage on its own balance sheet creates a lumpy, illiquid exposure that most municipal pension plans of similar size hold only through commingled real estate funds. The 86-acre parcel's long-term disposition strategy, whether through outright sale or ground-up development participation, will be the single most consequential investment decision facing the board this decade.
General information
Firm type
Pension Fund
Year founded
1956
Location
Region
North America
Country
United States
City
Farmington
Corporate office
Farmington, CT, United States
Principals
Dave Wlodkowski
Chair, Retirement Board
Joan Valenti
Member, Retirement Board
Bruce Polsky
Member, Retirement Board
Robert Gary Brochu
Member, Retirement Board
Sector focus
Frequently asked questions
Who runs investment decisions at the Town of Farmington Pension Trust Fund?
A five-member Retirement Board governs the fund. Chair Dave Wlodkowski and member Bruce Polsky are elected Town Council members; Joan Valenti operates an independent registered investment advisory firm, and Robert Gary Brochu runs a tax-services business. The board's day-to-day delegation of investment authority — whether to an internal administrator or an outsourced chief investment officer — is not publicly disclosed.
Does the fund disclose its total assets under management?
No. The Town of Farmington does not publicly break out the pension trust's fiduciary net position separately from other post-employment benefit obligations in an easily accessible format, despite receiving GFOA recognition for its broader municipal financial reporting.
How did the pension fund acquire 86 acres of residential land?
In 2017, the City of Hartford transferred the parcel at 8261 Fienemann Road to the Farmington pension fund as part of a financial settlement between the two municipalities. The land is zoned residential and sits vacant on the fund's balance sheet as a direct real estate asset.
What is the fund's stated investment strategy?
No formal investment policy statement is publicly available. The known asset structure — traditional pension portfolio plus one large direct land holding — suggests a bifurcated approach, but disclosed manager lineups, target allocations, or actuarial return assumptions have not been published.
Is the fund subject to Connecticut's municipal pension reporting requirements?
Yes, as a Connecticut municipal plan it falls under state-level disclosure mandates administered by the Office of Policy and Management. However, detailed asset-level transparency varies by municipality, and Farmington's pension-specific reporting has not been made prominently accessible outside its annual comprehensive financial report.
Does the Town of Farmington maintain other post-employment benefit plans?
The town's annual financial reporting, recognized by the GFOA, typically includes disclosures on other post-employment benefits such as retiree healthcare alongside the pension trust. The pension fund itself is the formal trust vehicle for retirement obligations adopted in 1956.
What is the fund's posture on the future of the Fienemann Road parcel?
The Retirement Board has not announced a formal development plan, sale timeline, or appraisal. As vacant residential-zoned land in suburban Hartford, the parcel represents both a potential long-term real estate development opportunity and a concentrated illiquid risk for the plan.
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