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City manager raises misuse-of-funds concerns at Police Pension Board; retirees push back, call for audit
Summary
City management told the commission it found potential misuse of Police Pension Trust Fund dollars tied to administrative expenses and an actuarial study. Retired officers and plan stakeholders disputed some claims and urged transparency; commissioners suggested a forensic review or full records disclosure.
City management on Tuesday told the Sunrise City Commission it has serious concerns about the way the Police Pension Board and its plan administrator have used pension trust fund dollars, including payment for an actuarial study related to benefit enhancements and leasing and office expenses the manager described as benefiting a private business.
In a lengthy presentation, the city manager raised multiple issues: an actuarial report the manager said the Police Pension Board funded to analyze proposed pension benefits for active officers; a leased office space paid by the pension fund that the manager said the plan administrator used to run a separate private business; redundant secretarial and data-entry contracts; multiple credit cards tied to plan accounts; and repeated annual 5% cost-of-living increases for plan contractors that the manager said exceeded increases for city retirees.
"The funding of this study is a misuse of pension trust fund dollars," the city manager told the commission. He said the $4,647 actuarial study was paid for by the…
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