Town of North Haven Police Pension Plan

Town of North Haven Police Pension Plan

The Town of North Haven Police Pension Plan is a public-sector defined-benefit plan providing retirement allowances to eligible police officers and their surviving spouses. Oversight falls to a five-member Police Retirement Board composed of town officials and police union representation — a governance model common across Connecticut municipalities. The plan's fiduciary net position is reported as part of the Town of North Haven's annual comprehensive financial report, making it a transparent, if modestly scaled, institutional pool. Asset allocation is not publicly itemized at the plan level, but Connecticut municipal police pension funds of this size typically hold diversified portfolios across domestic equities, fixed-income instruments, and real assets via commingled vehicles or state-managed investment pools. The Town of North Haven participates in broader regional economic networks through its officials' memberships in the Quinnipiac Chamber of Commerce and Greater New Haven Chamber of Commerce, though these relationships do not directly govern the pension plan's investment decisions. The Retirement Board operates under Connecticut General Statutes and the town's ordinance framework, with procurement and investment oversight conducted through public meetings. Staffing is handled through the existing town administrative apparatus; there is no dedicated investment staff disclosed for the police plan alone. The town's First Selectman, Michael Freda, serves on the Retirement Board alongside union president Jason Janosko, creating a table where municipal executive authority and labor representation meet over fiduciary decisions. Philanthropic activity tied to the town includes support for The Quinnipiac River Fund, a regional environmental grantmaking vehicle administered by The Community Foundation for Greater New Haven, though this is separate from pension-plan operations. The plan's structural differentiator is its embeddedness: it is not an independent trust with a separate investment committee staffed by external professionals, but rather a municipally governed entity whose board composition is dictated by Connecticut law. That design couples the fund's fate to the town's broader fiscal health and to the interpersonal dynamics of a five-member board drawn from a single suburban jurisdiction — a governance intimacy that larger institutional allocators avoid but that can produce unusually direct accountability for a plan of this scale.