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Waterbury Retirement System
Waterbury Retirement System operates as the single-employer public pension plan for the City of Waterbury, Connecticut. It delivers retirement benefits to...
Waterbury Retirement System
Waterbury Retirement System operates as the single-employer public pension plan for the City of Waterbury, Connecticut. It delivers retirement benefits to police, firefighters, nurses and non-teacher municipal workers. The City administers the plan through its Pension & Benefits office. The portfolio holds $357 million in common and preferred stock, $41 million in mutual funds, $7 million in corporate bonds and $3 million in U.S. government securities as of June 30, 2024. Real estate exposure includes a commitment to Brookfield Strategic Real Estate Partners IV accessed via iCapital Onshore Access Fund L.P. The system maintains a 10 percent target allocation to private equity. The Retirement Board meets monthly to review performance and asset allocation. The most recent documented meeting occurred in May 2024. Service providers include CliftonLarsonAllen as auditor, U.S. Bank as custodian and Hooker & Holcombe as actuary. Governance flows through the Mayor’s appointment authority and the City’s direct administration. No separate investment staff or external CIO is disclosed.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Waterbury
Corporate office
City Hall Building 235 Grand Street 2nd floor, Waterbury, CT 06702, United States
Principals
Paul K. Pernerewski, Jr.
Mayor
Michael LeBlanc, CPA
Director of Finance
Heather Boyd
Pension & Benefits Manager
Sector focus
Frequently asked questions
Who appoints the Retirement Board?
Mayor Paul K. Pernerewski, Jr. appoints the seven members of the Waterbury Retirement Board.
What asset classes appear in the portfolio?
Holdings include public equities, mutual funds, corporate bonds, U.S. government securities and private real estate through Brookfield Strategic Real Estate Partners IV.
Does the system maintain a private equity allocation?
Yes. The documented target allocation to private equity is 10 percent.
Which service providers support the plan?
CliftonLarsonAllen serves as independent auditor, U.S. Bank National Association as custodian and trustee, and Hooker & Holcombe as actuary and investment advisor.
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