Retirement Systems

Fairfax County, Virginia

CONTACT INFORMATION: Our office is open 8:00 AM - 4:30 PM M-F/ Closed between 2:00 PM - 3:00 PM M-F / Walk-ins 11:00 AM - 2:00 PM M-F

12015 Lee Jackson Memorial Highway, Suite 350
Fairfax, VA 22033

Jeff Weiler,
Executive Director

General/Financial Information


Leadership & Governance

Boards of Trustees

Each of the three retirement systems has a Board of Trustees, who are comprised of employees and retirees elected by their peers, County officials, and citizens appointed by the Board of Supervisors. These Boards are as follows:

Board Meetings Dates/Times/Agendas

Information about the Boards' meetings are available on this page.

Governing Documents

The Fairfax County Police Officers Retirement System was created under authority granted by Chapter 303 of the Acts of Assembly (law of the Commonwealth of Virginia) on March 29, 1944, to provide defined benefit pension plan coverage for sworn full-time law enforcement officers of the Fairfax County Police Department. In 1981 Fairfax County enacted Article 7 of the Fairfax County Code, which adopted and continued Chapter 303 as amended

The Employees' and Uniformed Retirement Systems are based in County Code, as detailed below:

The County's funding policy is described here.

Organization

History

Retirement Systems Provisions


Investments

Allocation of Funds

Each of the systems has its own investment portfolio, target allocations, and investment policies. The current allocations by major investment type are summarized on the following pages:

Funding


Actuarial Information

Actuarial Funding Model

The goal of any defined benefit pension plan is to ensure that funds are always available to pay benefits to retirees and beneficiaries, specifically when they are due and for as long as they are to be paid.  Actuaries are utilized to analyze the plans' member demographics (salaries, benefit formulas, leave balances, etc.), retiree life characteristics (mortality, longevity, etc.), and economic factors (investment returns, inflation, etc.) to determine how much needs to be contributed by employers and employees to ensure that this funding goal is met currently and into the distant future. A summary of how this works is available on this page.

Actuarial Valuation Reports

Fairfax County relies on its actuary, currently Cheiron, to do this analysis and make funding recommendations to the Boards of Trustees on an annual basis. The most-recent reports from these valuations are available as follows:

Fairfax Virtual Assistant