Wellington Mayor Bob Margolis was recently appointed vice chair of the Florida League of Cities Municipal Pension Trust Fund Board of Trustees.
“The active oversight of elected officials with skin in the game is what sets the trust fund apart from all other retirement plans,” Margolis said. “I’m honored to volunteer with other elected officials whose cities actively participate in the trust fund. Together, we can offer low-cost, worry-free benefits at a price unmatched by the private sector. Our efforts create great value for our taxpayers.”
As of 2014, the trust administered 198 retirement plans covering nearly 5,000 participants, with a fiduciary net position of $522.4 million. More than 100 local governments participate in the trust.
The fund is governed by a board of trustees and operates as a nonprofit, tax-exempt entity. It provides professional and cost-effective investment and administrative services for all types of retirement plans.
