Francis X. Bielli

Philadelphia Board of Pensions & Retirement (Board of Pensions & Retirement) is a state-owned pension fund manager headquartered in Philadelphia, Pennsylvania. The Board of Pensions & Retirement is vested with the exclusive authority and discretion to manage and control the retirement funds for the City of Philadelphia Public Employees' Retirement System. The City Home Rule Charter requires that the pension fund is always able to cover current and future payments to people who have paid into the fund. To do this, the Board oversees all pension contributions from current employees and all benefit payments made to eligible people who have left City service. The Board also makes sure that decisions are made to keep the pension fund healthy.