Columbus, Georgia

Agenda Item #



Columbus Consolidated Government

Council Meeting



June 11, 2002



Agenda Report #



TO: Mayor and Council



SUBJECT: Pension Plan Funding Ordinances



INITIATED: Department of Finance







Recommendation: Approve pension ordinances which provides governmental

contributions to the Columbus, Georgia Employees? Pension Plans for the fiscal

year beginning July 1, 2002.



Background: Annual contributions are required to fund the following Pension

Plans based on the FY2001 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.



Legal: the City Attorney has reviewed a copy of the Pension Plan Ordinances and

they meet the requirements of the Pension Plan Ordinances contained in Chapter

16A of the Columbus Code.



Financial Considerations: Funding of the minimum required contributions

beginning July 1, 2002 through June 30, 2003.



Recommendation/Actions: The Department of Finance recommends the approval of

the above ordinances.