CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
Business and Financial Services 		For Meeting of:
January 11, 2016
District: ALL From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No
Subject:
Meeting Minutes - General Employees' Pension Advisory Committee - December 3, 2015
Summary:
The General Employees' Pension Advisory Committee (PAC) met on December 3, 2015. The PAC's actuary presented the Five-Year Experience Study for the period of October 1, 2009 through September 30, 2014.
Fiscal & Efficiency Data: N/A
Recommended Action:
Accept the recommendations of the General Employees' Pension Fund Five-Year Experience Study including adopting the RP2000 Mortality Table, lowering the rate of assumption to 7.5% and wage inflation to 3.75%, extending the amortization period to eight years, dated September 30, 2015, and accept the amended minutes from the September 3, 2015 PAC meeting.
Agenda Item attachment(s) on file in the City Clerks Office.
Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.
Contact: Michele V. Keane
Approved By:

Department Date and Time
Budget Outside Routing Approval 12/30/2015 10:01 AM
City Clerk 12/30/2015 1:02 PM
ATTACHMENTS:
Name: Description: Type:
GRS_Experience_Study_October_1_2009_to_September_30_2014.pdf Five-Year Actuarial Study Backup Material
Dec_3_2015_Qtrly_Minutes_Final.pdf Dec 3 2015 Joint Quarterly Minutes Backup Material
"Enhance the quality of life in the City by delivering public services in a knowledgeable, responsive and financially responsible manner."