Title
City of Gainesville Police Officers' and Firefighters' Consolidated Retirement Plan Actuarial Valuation Report as of October 1, 2006 (B)
Explanation
Buck Consultants has provided an actuarial valuation report for the City of Gainesville Police Officers' and Firefighters' Consolidated Retirement Plan as of October 1, 2006. This report provides the funding status of the Plan as of October 1, 2006 as well as the required contribution rates payable in the 2007/2008 fiscal year under Chapters 112, 175, and 185 of the Florida Statutes.
Fiscal Note
The required City contribution rate moves from 6.13% of payroll for the 2006/2007 fiscal year to 5.85% of projected payroll for the 2007/2008 fiscal year.
Recommendation
The City Commission receive the actuarial valuation report for the City of Gainesville Police Officers' and Firefighters' Consolidated Retirement Plan as of October 1, 2006.