Statement of Investment Policy
The Jacksonville Police and Fire Pension Fund is a contributory defined benefit pension plan established under Section 401(a) of the Internal Revenue Code, as amended. The Fund was closed to new entrants on October 1, 2017. Pursuant to Article 22 of the City of Jacksonville Charter, the Fund is administered by the Jacksonville Police and Fire Pension Board of Trustees, a body politic and corporate, which has the fiduciary responsibility for the Fund’s administration, investment of its assets, and the management of its operations. The purpose of the Fund is to provide long-term benefits to the Fund’s participants and their beneficiaries. In recognition of its responsibility, the Board has adopted this Statement of Investment Policy.
The purpose of this Policy is to establish and communicate a clear understanding of the objectives and guidelines established by the Board regarding the investment and administration of the Fund’s assets. It is intended to provide the Board, the Fund’s Treasurer, the Fund Administrator and investment staff, the Financial Investment Advisory Committee, the investment consultant, the investment managers, and the custodian bank a clear and accurate understanding of all investment objectives, investment policies, guidelines and limitations.