Village of Beverly Hills Public Safety Retirement System

Village of Beverly Hills Public Safety Retirement System

The system was established to fund retirement obligations for police and fire personnel in Beverly Hills, Michigan, a small Oakland County community north of Detroit. The plan's Defined Benefit component closed to new participants on July 1, 2013, meaning all active members are legacy hires and the liability pool is shrinking over time. The Village President and Treasurer serve as board members, giving the plan direct oversight from elected municipal officials. As a closed municipal pension, the system's investment mandate is liability-driven — preserving capital to meet benefit payments rather than pursuing growth. Known cash-management relationships include Comerica's J Fund and Michigan CLASS, a local government investment pool operated by the Michigan Liquid Asset Fund. Both suggest a conservative posture focused on short-duration fixed income and cash equivalents. The plan does not publicly disclose venture capital, private equity, or real asset commitments. The plan is administered through the Village's general governance structure. Village Manager Warren Rothe, appointed in 2025, handles day-to-day administrative functions. The Village participates in the Michigan Municipal League and the Southeast Michigan Council of Governments, which provide networking and technical resources relevant to pension administration. No dedicated investment staff or external CIO arrangement is publicly identified. The plan's defining structural feature is its closed status — it is a liability in runoff, not an ongoing enterprise. That distinguishes it from open municipal systems still building assets. The absence of new contributions means asset allocation is driven entirely by the benefit payment schedule, and the board's primary fiduciary duty is to ensure assets match remaining obligations.