Agenda Item #
Columbus Consolidated Government
Council Meeting
June 19, 2012
Agenda Report #
TO: Mayor and Council
SUBJECT: Pension Plan Funding Ordinances
INITIATED: Finance Department
Recommendation: Approve pension ordinances which provides governmental
contributions to the Columbus, Georgia Employees? Pension Plans for the fiscal
year beginning July 1, 2012.
Background: Annual contributions are required to fund the following Pension
Plans based on the 2011 Actuarial Valuation prepared by Southern Actuarial
Services:
Columbus, Georgia Employees Pension Plan for General Government Employees
Columbus, Georgia Employees Pension Plan for Employees of the Department of
Public Safety
Columbus, Georgia Employees Major Disability Income Plan
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 there are no issues other than compliance of the law.
Financial Considerations: Funding of the minimum required contributions
beginning July 1, 2012 through June 30, 2013.
Recommendation/Actions: Finance and Human Resources recommend the approval of
the above ordinances.
Attachments
No attachments for this document.