Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Commission recommends PSPRS pension funding policy that holds contribution rates near current level
Summary
The Budget & Finance Commission voted to recommend that Town Council adopt a PSPRS pension funding policy that maintains current employer contributions rather than taking the actuary’s suggested reduction, citing market and MOU uncertainties.
Mr. Gephart presented a draft PSPRS (public safety) pension funding policy required by Arizona statutes and told commissioners the town’s police and dispatcher plans are currently about 101%–102% funded. He said actuaries recommended lowering employer contributions (to roughly 10.47% from the current ~12%), but staff proposed keeping the higher contribution so the town maintains a 100%…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
