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West Virginia Municipal Police Officers & Firefighters Retirement System
The West Virginia Municipal Police Officers & Firefighters Retirement System serves as the pension safety net for municipal police and firefighters across West...
West Virginia Municipal Police Officers & Firefighters Retirement System
The West Virginia Municipal Police Officers & Firefighters Retirement System serves as the pension safety net for municipal police and firefighters across West Virginia. Governed by the West Virginia Investment Management Board and overseen by the Municipal Pensions Oversight Board, the system pools assets from participating municipalities to provide defined-benefit retirement security. Executive Director and CIO Craig Slaughter manages day-to-day investment operations alongside a board that includes the sitting Governor and State Treasurer. The system deploys capital across a multi-asset portfolio spanning public equities, fixed income, real estate, private equity, hedge funds, and infrastructure. The real estate allocation operates through a dedicated WVIMB Real Estate Pool with global reach. The fund has positioned itself within the climate-aware investor community through participation in Climate Action 100+, signaling engagement with portfolio companies on emissions reduction. Target allocations follow a traditional public pension model with alternatives exposure intended to enhance long-term returns and reduce volatility. The retirement system operates under the governance umbrella of the West Virginia Investment Management Board, which also oversees other state retirement assets. The board structure places elected officials — the Governor as Chairman and the State Treasurer as a trustee — in direct fiduciary roles over investment policy. This governance architecture means investment decisions can intersect with state-level political dynamics in ways distinct from independently governed public funds. The fund's participation in Climate Action 100+ marks a structural differentiator. In a state whose economy and public revenue remain closely tied to coal extraction and thermal energy, the pension fund's willingness to join an investor coalition pressing major emitters on climate governance is a deliberate governance signal rather than a default position.
General information
Firm type
Pension Fund
Year founded
2010
Location
Region
North America
Country
United States
City
Charleston
Corporate office
Charleston, WV, United States
Principals
Craig Slaughter
Executive Director and Chief Investment Officer
Jim Justice
Governor of West Virginia and Chairman of the WVIMB Board of Trustees
Riley Moore
West Virginia State Treasurer and Trustee of the WVIMB
Stephen G. Neddo
Chairman of the Municipal Pensions Oversight Board
Sector focus
Frequently asked questions
Who oversees investment decisions for the West Virginia Municipal Police Officers & Firefighters Retirement System?
The system falls under the West Virginia Investment Management Board, whose trustees include the Governor and State Treasurer. Craig Slaughter serves as Executive Director and Chief Investment Officer, running day-to-day portfolio management. The Municipal Pensions Oversight Board, chaired by Stephen G. Neddo, provides additional governance oversight for the municipal plans specifically.
What asset classes does the retirement system allocate to?
The system maintains a diversified portfolio including public equities, fixed income, real estate, private equity, hedge funds, and infrastructure. A dedicated WVIMB Real Estate Pool provides global real asset exposure. The fund follows a traditional public pension allocation framework with meaningful alternatives exposure.
How is this fund different from the West Virginia state employee pension?
This system covers municipal police and firefighters specifically — not state employees, teachers, or other public workers. It pools contributions from participating cities and towns across West Virginia, operates under the Municipal Pensions Oversight Board, and has its own distinct funding structure and benefit design separate from the larger Public Employees Retirement System.
What is the fund's approach to ESG or climate considerations?
The system participates in Climate Action 100+, an investor-led initiative engaging major corporate emitters on climate governance and emissions reduction. This participation is notable given West Virginia's coal-dependent economy and the political sensitivity around fossil-fuel divestment or engagement in the state.
What is the governance relationship between the pension fund and West Virginia state government?
The Governor serves as Chairman of the WVIMB Board of Trustees, and the State Treasurer sits as a trustee. This places elected officials directly in fiduciary roles. The Municipal Pensions Oversight Board adds a second governance layer specific to the municipal police and fire plans.
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