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Federated City Employees Retirement System
The Federated City Employees’ Retirement System ("System") is a defined benefit retirement plan serving the employees and retirees of the City of San José. Operating under the San José Municipal Code Section 2.08.1000, the System is managed and administered by its Board of Administration ("Board"). The Board’s specific duties include:

  • To administer the plan for the exclusive purpose of timely delivering promised benefits and services to the plan for members and beneficiaries;
  • To prudently invest the funds of the plan and diversify the assets in order to minimize risk and maximize return, thereby minimizing employer contributions;
  • To provide for actuarial services in order to assure the competency of the assets of the plan;
  • To administer the plan in accordance with the documents and the instruments governing the Plan-City Charter, Municipal Code and State and Federal Laws.

The Board uses investment earnings and employer and employee contributions to provide eligible retirees with defined-benefit pensions based on their years of service and highest compensation. The System provides medical, survivorship, and permanent disability benefits to qualified members and their beneficiaries.

The Board has broad authority in the administration of the retirement plan as well as the authority to enter into agreements on behalf of the City for the administration of the System. The authority is exercised within the limitations imposed by the Municipal Code and within the requirements of the applicable fiduciary standards. The Board also has an Investment Committee, which meets bi- monthly, a Governance and Audit Committees that meets quarterly and a Joint Personnel Committee (with Police and Fire Board members) that meets as needed throughout the year.

The Board meets on the third Thursday of each month at 8:30 a.m. except in July. The meetings are held at San Jose City Hall located at:

200 East Santa Clara Street, Wing Rooms 118-120, San Jose, CA 95113. 

For more information about Board meetings or to view meeting materials, please see the System website. You may also access the meeting schedule on their website.

Retirement System Member Qualifications
he System’s Board of Administration consists of seven members with four year terms except for the City Council members whose terms depend on their Council status:

  • Two employee members who are members of the System and each from a different City department
  • One member who retired under the retirement plan provisions
  • Three members of the public appointed by the City Council
  • One public member is selected by the Federated Board
Each Public Board Member must live within a 50-mile radius of San José City Hall.
Public Board Members must have a baccalaureate degree from an accredited college or university in finance, actuarial science, law, economics, business or other relevant field of study. An advanced degree in a relevant field of study or professional certification is desirable but not required.

Knowledge and Experience
Board members should have a high level of knowledge and expertise and at least twelve (12) years’ experience relevant to the administration of a public retirement plan, including but not limited to: (1) senior executive position in pension administration; (2) pension actuarial practice; (3) institutional investment management; (4) auditing; (5) accounting; (6) legal; (7) health and welfare and/or employee benefits management; (8) investment management; (9) banking; (10) asset/liability management for an insurance company; (11) college or university professor with a focus on fiduciary or trust fund law or a quantitative background in financial theory or actuarial math. Twelve (12) years combined experience in a related field may meet this requirement.

The public and Civil Service Commission members receive as compensation for services as a member of the board, the sum of $260 per month. There is no compensation for the members of the board who are employee and retiree representatives or City Council members. However, from time to time, all board members may be reimbursed for some expenses incurred on City business.

Political Reform Act
The Conflict of Interest Section of the Political Reform Act applies to the Deferred Compensation Advisory Committee. Committee members are required to file a Statement of Economic Interests (Form 700) upon appointment and annually thereafter and is subject to the City’s Code of Ethics:

Appointment Process
  • Active/Retiree members are elected by their membership and appointed by the City Council.
  • The public members are appointed by the City Council.

Attendance Process
Board members are expected to attend all meetings. Members who have unexcused absences from any three consecutive regular meetings or more than 20% of the meetings in a calendar year are deemed to have resigned from the Board. 

For further information about the Plan, please contact the Office of Retirement Services staff at (408) 794-1000.