To

Mayor and Council

Subject

Agenda Report/Pension Plan Funding Ordinances

Initiator

Human Resources Department

Recommendation

Approve pension ordinances which provides governmental contributions to the \n \n Columbus, Georgia Employees' Pension Plans for the fiscal year beginning July \n \n 1, 2003.

Approval

Approved

Background

Annual contributions are required to fund the following Pension Plans based on

the FY2002 Actuarial Valuation prepared by our actuary, William M. Mercer.



1) Columbus, Georgia Employees Pension Plan for General Government Employees



2) Columbus, Georgia Employees Pension Plan for Employees of the Department of

Public Safety



3) Columbus, Georgia Employees Major Disability Income Plan



4) Columbus, Georgia Employees Death Benefit Escrow Plan

Analysis

There is a budgetary and financial impact.

Financial Considerations

Funding of the minimum required contributions beginning July 1, 2003 through

June 30, 2004.

Projected Annual Fiscal Impact Statement

Legal Considerations

The City Attorney has reviewed a copy of the "Pension Plan Ordinances" and

these are required annually for operation of the pension plans.

Recommendations/ Actions

Human Resources recommend the approval of the above ordinances.

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