LEXINGTON, Ky. — The Lexington-Fayette Urban County Government Police and Fire Pension Fund has surpassed $1 billion in total assets as the retirement board honored a longtime financial steward during its July meeting. The Police and Fire Pension Board approved routine business Wednesday, with the fund's balance reported at $1.135 billion.

Treasurer Chad Hancock, who has served the government for 25 years, received a proclamation declaring July 8, 2026, as Chad Hancock Day in Lexington. According to the meeting transcript, Hancock noted the fund's growth since he began managing its finances. "When I started doing this fund in 2001, the fund was at 200 million," he said, adding that the growth reflects both market performance and sound financial stewardship. Employees contribute 12 percent of their salary, and the LFUCG contributes 47.35 percent of salaries, with the fund's financial management and oversight including active investment management, an annual financial audit and bi-annual actuarial analyses.

The board approved several service retirements and disability benefit applications. Captain McHale Johnson and firefighter Justin Mayett were approved for service retirement, while disability applications from firefighters Scott Marshall, Brian Moscow, Mark Rogers, and Adam Cheryl were sent to doctors for evaluation. The board also approved a widow's annuity for Janice Spawn and a military purchase for William West.

The board approved a motion to perform an experience study a year earlier than normal to account for recent legislative changes, and approved financial training for board members at the August meeting. The board meets every second Wednesday of the month at 9 a.m.

During the meeting, the board paid tributes to five police and fire personnel who passed away: Carol Sally Widom and David Dean from the fire division, Don Span, Rita Shelly, and John Potts. Fire Chief Wells commended the retiring officers for their service.