Issue link: https://newsleader.uberflip.com/i/149186
Sarasota News Leader August 9 & 16, 2013 Page 75 CITY COMMISSION TO HOLD PENSIONS WORKSHOP ON AUG. 23 The Sarasota City Commission has scheduled a workshop at 2 p.m. on Aug. 23 for the presentation of a report, Annual State of the City's Pension Plans, including the general employees', police officers' and firefighters' defined benefit plans and the General Employees Defined Contribution (DC) Plan, a city news release says. The plans' actuaries will provide a description of each type of actuarial assumption the plans use and the effects of not meeting those assumptions. Additionally, they will present their perspective on state legislation; positive and negative trends; and whether the current funding levels are reasonable. They also will compare the city's plans to others, the release continues. Presentations will be made by the plans' attorneys, investment consultants and actuaries, The Defined Contribution Plan professionals will provide an explanation of which funds the release notes. were selected as investment choices and what The attorneys will discuss the legal perspec- selection process was used. They further will tive of a Florida Senate bill regarding such offer data regarding the number of participlans, trends in municipal pension plans pant accounts in the plan and the number of across the state and the release of certain employees taking advantage of the matching monies to the police plan by the Florida De- benefit offered by the city, the release notes. partment of Management Services. They also will talk about the status of participant engagement, the processes implemented The plans' investment consultants will discuss to improve participant understanding of the the returns over the past year compared to plans and the type of continuing education the benchmarks that had been set, as well as available. their views on action by the boards governing the plans relative to investment rate of return The public is invited to attend the workshop. assumptions, the release says. They also will It will be recorded and made available for talk about their expectations for future rates future viewing on demand through the city's website. of return. The City Commission sits in session in June. Photo by Norman Schimmel