How your pension is administered

 

State law provides that your pension is administered by an independent Board of Pension Trustees. The Board of Pension Trustees hires staff to direct the every day operations of the pension system. In addition, state law provides an Advisory Council, comprised of representatives of employee groups, to advise and counsel the Board of Pension Trustees about the concerns of employees.

 

The Role of the Board of Pension Trustees

 

The administration of the state pension system is directed and supervised by the state pension administrator who is hired by the Board of Pension Trustees.

The Board is made up of five appointed members and two ex-officio members. Of the appointed members, two must be Democrats and two Republicans. They serve four-year terms. Their appointments require Senate confirmation. The chairman of the Board can be of either party or unaffiliated, and serves at the pleasure of the Governor. He/she must also be confirmed by the State Senate. The two ex-officio members are the Director of the Office of Management and Budget and the State Secretary of Finance.

The Board of Trustees has adopted Pension Rules and Regulations to assist in administering the pension law. These rules have the effect of law. All state agencies, including school districts, should have copies of these rules. If not, you can secure them at the state pension office. In addition, the pension office staff performs retirement counseling, evaluates benefits, issues retirement checks, and dispenses information relating to medical care and Trust Fund Investments.

 

The Role of the State Pension Advisory Council

 

The State Pension Advisory Council advises the Pension Board on areas to improve pension benefits and provide for equitable pension administration. It also serves as a communications link between the Pension Board and state employees. Membership on this Council includes DSEA plus the Delaware Association of School Administrators, the Delaware School Food Service Association, FOP Lodge #6, the Delaware National Guard, the Delaware Retired School Personnel Association, FOP, State Lodge, University of Delaware Salaried Staff Association and the International Association of Firefighters, Wilmington.

 

Pension Workshops held to help you prepare

 

Each year DSEA-Retired holds a workshop in the Fall, November 4, 2006 at the DSEA Dover office; and again upstate in the spring (March 8, 2007 at 4:00pm at the DSEA New Castle County Office); and the State's Pension Advisory Council organizes workshops for state employees and their families in the spring. Stay tuned for more information.