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Police and Fire retirement office reports active RFPs, lease talks and trustee 1099 issue
Summary
The Police and Fire Retirement Board received an operational update covering active recruitments, three open RFPs, ongoing lease negotiations and a trustee 1099 miscategorization that staff said did not affect retirees.
The Police and Fire Retirement Board heard an operational update from the plan’s chief executive that outlined staff recruitments, three active requests for proposals and continuing lease negotiations for additional office space.
John, the board’s CEO, told trustees the office is recruiting a senior office specialist and an accounting position, and expects the specialist to be hired by the end of the month and the accounting candidate to be in place by April. He also noted the City’s hiring freeze that began Dec. 16 could affect future hiring but had not affected the current recruitments.
Staff reported three open RFPs: legal services (closed Jan. 24 with 32 downloads and eight proposals), actuarial services (closed Jan. 31 with 20 downloads and five proposals) and governance services (closed Jan. 31 with 40 downloads and five proposals). The CEO said joint ad hoc committees and staff will score proposals, schedule interviews as needed and aim to bring finalists to boards in March.
The CEO said the office’s lease expires March 31 and staff completed a space analysis; negotiations with the landlord are ongoing and a lease item appears later on the agenda. He also announced a cybersecurity briefing and said staff will determine when that project should be presented to the boards in closed session.
On tax forms, the CEO said some trustees reported inconsistencies in their 2024 Form 1099s; staff believe the miscategorization affected trustee 1099s broadly but did not affect retiree 1099-Rs. He said staff are working with the city’s finance department and will provide updates when available.
Other operational notes: guaranteed purchasing power for 2024 will be paid in February for both Federated and Police & Fire retirees who qualify; the IRS mileage reimbursement rate is 70 cents per mile effective Jan. 5, 2025; and ORS will default to digital distribution of its newsletter starting with the summer edition. The board was informed of a retirement workshop scheduled Feb. 27 from 8:30–10:30 a.m. via Zoom.
The update was informational; trustees asked follow-up questions about committee scoring and lease timing but took no formal action during the report.
Ending: Staff will return with contract and negotiation outcomes as the RFP scoring and lease talks proceed and will notify trustees about the trustee 1099 remediation work once finance resolves the issue.
