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2021 DY0 DC Retirement Board

Thursday, August 27, 2020

The mission of the District of Columbia Retirement Board (DCRB) is to prudently invest the assets of the pension plans of the police officers, firefighters, and teachers of the District of Columbia, while providing plan members with retirement administration services.

Summary of Services

DCRB is an independent agency that has exclusive authority and discretion to administer the District’s retirement funds for teachers, police officers, and firefighters (hereinafter referred to as the “Fund”) pursuant to Section 1-711(a) of the District of Columbia Official Code. In 2005, the responsibility for administering the teachers’, police officers’ and firefighters’ retirement programs was transferred to DCRB.

The federal government assumed the District’s unfunded liability for the retirement plans of teachers, police officers, firefighters, and judges under provisions of the National Capital Revitalization and Self-Government Improvement Act of1997. Under this law, the federal government pays the retirement benefits and death benefits, and a share of disability payments, for members for years of service earned up to the freeze date of June 30, 1997. The District of Columbia government is responsible for all subsequently earned benefits for the members of the retirement plans.

The DCRB Board of Trustees is comprised of 12 voting trustees: 3 appointed by the Mayor, 3 appointed by the District Council, and 6 elected by employee participant groups. In addition, the District’s Treasurer serves on the Board as ex-officio (non-voting) member, representing the District’s Chief Financial Officer.