The Board of Directors of the Fire and Police Pension Fund will hold a special called meeting on Friday, May 15, 2015 at 11 AM to vote on and adopt actuarial assumptions and funding methodology in compliance with the Public Employees Defined Benefit Financial Security Act of 2014 (PEDBFS). The meeting will take place at the Pension Office.
The vote must take place prior to the City Council’s approval of the fiscal year 2016 budget. Previously adopted assumptions and methodology were discovered to not be in compliance with the PEDBFS.
The Board may also discuss and adopt its Funding Policy which is also required by the PEDBFS.
Only items related to the actuarial assumptions, funding methodology, and Funding Policy will be considered for a vote in this special called meeting.
The Board may possibly discuss other items, but will take no action other than as stated above.
