City of Gainesville - File #: 001976

• File #: 001976
• Version: 0
• Name: Retiree Pension/Health Insurance Presentation (B)
• Type: Discussion Item
• Status: Filed
• File created: 10/22/2001
• In control: City Manager
• Final action: 10/22/2001
• Title: Retiree Pension/Health Insurance Presentation (B)

Date	Ver.	Action By	Action	Result
10/22/2001	0	City Commission	Heard

Title

Retiree Pension/Health Insurance Presentation (B)

Explanation

During the September 24, 2001 City Commission Meeting, Mike Tierney of Actuarial Concepts made a presentation regarding the Actuarial Valuations for the General Pension Plan and the Retiree Health Insurance Fund.  The City Commission took action to set the appropriate contribution rates for each Plan for fiscal year 2002.  The City Commission inquired about the effects certain changes to the General Pension Plan would have on the contribution rate.  Staff has compiled a report that shows the net effect on retiree pension benefits after the health insurance adjustments, Cost of Living Allowances, and the potential change in the multiplier for Pre-1985 retirees.

Fiscal Note

None at this time

Recommendation

The City Commission hear a presentation and take appropriate action.