Retirement
The Retirement Office is dedicated to serving the needs of the City of Tacoma members of the Tacoma Employees’ Retirement System (TERS) and the Washington Law Enforcement and Firefighters’ Retirement System Plan 1 (LEOFF 1).
TERS was established on January 1, 1941, for the purpose of providing retirement income to maintain the quality of life of its former employees. The retirement system covers those employees of the City of Tacoma, certain employees of the Tacoma-Pierce County Health Department, Pierce Transit, and the Tacoma Public Library. The Retirement Board of Administration acts as the governing body for the administration of TMC Chapter 1.30 and RCW 41.28 for TERS.
LEOFF 1 (Police and Fire) Pension is a closed system that serves members hired before October 1, 1977. The City of Tacoma Police and Fire Pension and Disability Boards act as the local administrative bodies for the administration of RCW 41.26 for LEOFF 1 and the prior pension acts.
Visiting Our Office
Please be informed that the Retirement Office requires a scheduled appointment for in-person meetings. We kindly request you to schedule your appointments in advance by contacting our Retirement Specialist either by phone or email. Meetings can be completed either by scheduled in-person appointments, by phone, Teams, or Zoom for your convenience.
Voicemail Tip: When leaving a voicemail, please provide a brief, high-level description of your needs to ensure your call is routed to the most appropriate staff member and be sure to leave your full name and phone number with area code.
To ensure optimal security best practices, please do not leave your social security number or bank information on voicemails or emails.
About TERS
The Tacoma Employees’ Retirement System (TERS) is a defined benefit plan which is qualified under section 401(a) of the Internal Revenue Code, providing retirement benefits to City of Tacoma employees. TERS serves about 3,000 active members and 3,000 deferred and retired members. TERS had approximately $2.1 billion in invested assets. Retirement benefits are funded by employer and member contributions and investment earnings.
About LEOFF 1
The City of Tacoma Police and Fire Pension and Disability Boards act as the local administrative bodies for the administration of RCW 41.26 for Law Enforcement Officers and Fire Fighters (LEOFF 1) and for the prior pension acts. The Boards consider applications for benefits under RCW 41.26 in accordance with that statute and the Washington Administrative Code.
Meet the Retirement Director
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Retirement Director
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Retirement DirectorCatherine Marx
Catherine Marx leads the planning and operations of the Tacoma Employees’ Retirement System (TERS) which serves more than 6,000 active and retired members. In addition, she works collaboratively with the Chief Investment Officer to provide oversight of the $2.1 billion investment portfolio
Working under the governance of the Retirement Board of Administration, she is responsible for TERS’ investment, actuarial and plan administration activities. As Director, Catherine is also responsible for overseeing the staff administering the pension and health benefits for approximately 425 public safety retirees participating in the Washington State LEOFF 1 system.
Catherine Marx is a highly accomplished leader with seventeen years of expertise in employee retirement benefits and public retirement system operations and possesses over two decades of financial management, accounting, and budgeting experience. Catherine joined the Tacoma Employees’ Retirement System (TERS) in 2006 as a Financial Analyst and progressed to the Assistant Director role by 2017. She is a strategic thinker with a focus on efficiency and compliance who has consistently demonstrated her commitment to TERS by improving processes. Catherine assumed the position as Retirement System Director on January 29, 2024, and her capable leadership and expertise in retirement system operations continues to be an invaluable asset to TERS.
Education
- Masters in Accounting (MAcc) – University of Washington
- Master of Public Administration course work – University of Southern Philippines
- Bachelor’s Degree in Accountancy – University of Mindanao
Professional Designations and Affiliations
- CPA, Philippines (inactive)
- Member, Public Pension Financial Forum
- Member, Government Finance Officers Association