The VEBA Board of Trustees has contracted with Outcome Private Wealth which handles the investment of the VEBA funds under the direction of the UFA VEBA Board of Trustees. The VEBA Trustees determine the Investment Policy Statement.
For investment purposes, all contributions are pooled together; however, each participant’ s balance is maintained in an individual account for tracking and distribution purposes. Investment gains or losses are allocated proportionally at the individual account level. These results are posted quarterly and reflected in each participant’ s online statement.
Q: Who sits on the VEBA Board of Trustees?
The VEBA Board of Trustees is comprised of the UFA Chief Financial Officer, Human Resources Director, Chief Legal Officer, and two full-time sworn UFA employees designated by the President of IAFF Local 1696. In addition, one UFA retired employee, one full-time UFA civilian employee, and two Chief Officers of UFA are designated by the UFA Fire Chief to serve as Trustees.
The current Trustees are:
• Trustee Board Chair – Assistant Chief Wade Russell
• Trustee Board Vice-Chair – Jeremy Robertson
• Trustee Board Secretary – Chief Financial Officer Tony Hill
• Human Resources Director – Kiley Day
• Chief Legal Officer – Brian Roberts
• Union Representative – Sean Brass
• Retiree Representative – William Brass
• Civilian Employee Representative – Sylvia Cardenas
• Chief Officer Representative – Assistant Chief Zach Robinson Q: Why are funds pooled vs. being individually invested?
The VEBA Board chose to pool funds instead of individual investments because of cost savings, investment advantages, fiduciary risk, and outcome-focused vs. opportunistic investment strategy.
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