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Police and fire pension boards brief council; police fund now near retiree-only status
Summary
Trustees and actuaries presented the annual reports for the police and fire pension plans; the police plan now largely serves retirees and the fire plan reported asset growth and increased state distributions.
Trustees and consultants for the City of Venice police and fire pension plans presented annual reports at the council meeting, describing plan status, funding assumptions and next steps for retirees and the city.
Police Pension: Kevin McGrath, chairman of the police pension board, said the plan is in a strong funding position largely because of intentional city contributions and favorable investment returns. Actuary Doug Lozen of Foster &…
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