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Punta Gorda trustees discuss commingling police and fire trust assets; no formal vote
Summary
Board members discussed a proposal to pool investment assets for the police and fire pension trusts to increase investable assets and reduce costs, but trustees concluded potential benefits are limited and tabled further action pending more information and police-board concurrence.
PUNTA GORDA, Fla. — Trustees considered whether to commingle the investment assets of the city’s police and fire pension trusts to expand investment opportunities and possibly reduce fees, but concluded there was insufficient evidence of a clear benefit and took no formal action.
One trustee introduced the idea after hearing of other plans that pool assets while keeping benefits separate.…
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