Pasadena Fire and Police Retirement System Board Meeting: September 16, 2026

The Pasadena Fire and Police Retirement System Board met on September 16, 2026. The board approved two service-pending industrial disability retirement applications for a police officer and a fire engineer/paramedic; one member abstained on the latter. It also approved a records-destruction inventory, including 90 member files and investment, asset-manager, and payroll records, under the system’s retention schedule. The board received and filed investment and closed-plan reports and discussed portfolio performance, risk, fees, and asset allocation. The investment consultant reported a fund value of about $103.6 million at June 30 and just over $104 million in August, with $975,000 anticipated for benefit cash flows and a planned October 1 transfer of roughly $1 million from Magnitude to real estate. A separate Invesco real-estate redemption of just over $7 million remained in process.

The budget update noted operating expenses below $2 million year to date and administrative costs below $90,000 against a $125,000 budget; audit and actuarial invoices were still pending. The discussion and actions concerned retirement benefits, records retention, investments, and budget monitoring. No procurement activity, contract awards, or vendor-selection decisions were identified.