Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Pension Administration topic
No spam. Unsubscribe anytime.
Retirement board seeks three staff additions and big raise for administrator; council questions scope and timing
Summary
Fresno’s retirement systems requested three new positions and proposed raising the retirement administrator salary range to $240,000–$350,000; council members pressed for justification, evidence of failed recruitments, and whether retirees' funding streams or general fund exposure would be affected.
Representatives of Fresno’s two public retirement boards appeared at the budget hearing to request three additional staff positions and to ask the council to raise the salary range for the retirement administrator.
Board members and the vice chair outlined reasons for the requests: increased complexity of investments and reporting, rising assets under management, more complicated benefits counseling and accounting needs, and an anticipated retirement of the current administrator. The boards hired DCI Consulting to benchmark compensation and to recommend a new market‑based salary range. The consultants’ recommendation was a broad range of $240,000 to $350,000 for the retirement administrator position. Board members said the change was intended to ensure the boards can attract an experienced administrator when the incumbent retires.
Council members pushed back. Several sought evidence that pay had already been a barrier (failed recruitments, turnover history) and asked why the request should be made now rather than after a formal recruitment. Council asked whether open positions could be reorganized rather than added, whether remote work patterns or subleasing reduced space needs, and whether the proposed positions would be funded by the retirement system rather than the general fund. Board members said retirement staff are funded from the retirement system, not general fund appropriations, but council also noted pension obligations ultimately affect the city's long‑term contribution schedules.
The board requested three classifications: deputy chief investment officer, senior accountant/auditor and senior retirement counselor. They also asked for a review of office space and noted some current subleasing revenue. Council asked staff for a cost estimate and additional rationale and declined to approve the change on the spot.
