Board of Pensions COO to Retire at End of 2026
The leadership change affects 60,000 individuals served by the Philadelphia-based organization.
Updated on Oct. 16, 2026 in Retirement Planning
Michael F. Fallon Jr., the Executive Vice President and Chief Operating Officer of the Board of Pensions in Philadelphia, is scheduled to retire at the end of 2026. Fallon has served the organization, which supports 60,000 individuals, since 1988.
Why it matters
Changes in executive leadership at organizations managing retirement benefits can signal upcoming transitions in administrative strategy or system oversight. For the 60,000 individuals served by the Board of Pensions, tracking these leadership shifts helps in understanding the continuity of the services and systems that manage their financial planning.
Michael F. Fallon Jr. concludes a 39-year tenure at the Philadelphia-based Board of Pensions, which currently serves 60,000 individuals. His departure is set for the conclusion of 2026.
The players
Michael F. Fallon Jr.
Executive Vice President and Chief Operating Officer of the Board of Pensions.
Board of Pensions
A Philadelphia-based organization that provides retirement and benefit services for 60,000 individuals.
The details
Fallon held various roles during his time at the agency, including serving as the first Director of Internal Audit starting in 1988. He later moved into executive financial leadership as CFO and Vice President of Finance in 2001, eventually transitioning to his current role in 2025. His operational contributions included leading the replacement of business systems and moving the organization to cloud-based infrastructure.
Timeline
1988: Michael F. Fallon Jr. began his career at the Board of Pensions.
2001: Fallon assumed the roles of CFO and Vice President of Finance.
2026: Fallon is scheduled to retire on December 31, 2026.
Money Landscape
Fallon’s long tenure spans the period following the implementation of the 1987 Benefits Plan. His career trajectory reflects the organizational evolution of the Board of Pensions from its post-reunion structure to its current cloud-based administrative operations.
Beneficiaries should review their current plan documents and beneficiary designations to ensure all account information is up to date ahead of the 2026 leadership change. If you have questions about how these administrative changes affect your specific benefits, consult a financial professional.
The takeaway
Leadership transitions at large benefit providers offer a reminder to periodically review your own retirement account statements for accuracy. It is a good practice to ensure your contact information and beneficiary details remain current regardless of organizational changes at your pension provider.
Further reading
For more information on managing your long-term savings, visit our Retirement Planning section.
Source note: This article includes information reported by PC(USA).
