Town of Greenwich Retirement System

The Retirement Board, chaired by Michael G. Wacek, governs asset allocation and investment policy. Day-to-day administration is handled by Retirement Administrator Kenneth L. Berkson, with oversight support from Town Comptroller Peter Mynarski and Treasurer Nataliya Yemets. The board relies on external fund managers — such as Clarion Partners, Almanac Realty, and EIG — for strategy execution.

The system's known investments are concentrated in private real estate, private equity buyout strategies, commodities, and energy. Specific holdings include the Clarion Properties Fund for mixed-use real estate, Almanac Realty Securities IX for real-estate securities and GP stakes, and Rockbridge Portfolio Fund I for hospitality properties. It also holds Bloomberg Commodity Index exposure and has committed to the EIG Energy Fund XV for global energy and infrastructure.

No. The system does not maintain a large internal investment staff. Governance is carried out by the Retirement Board and municipal officers; external investment managers run the underlying portfolios. This staffing model is typical for municipal plans of its size.

The fund has a strong record of public-reporting quality, having earned repeated GFOA Certificates of Achievement for Excellence in Financial Reporting — including for its most recent fiscal report as of May 2024. Its financial statements are disclosed through standard municipal reporting channels.

The system is a governmental defined-benefit plan established for town employees. It operates under the statutory authority of the Town of Greenwich, with board seats held by serving municipal officers. It is not a legally separate corporation — governance, treasury, and comptroller functions are embedded within the town government structure.