Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Public Funding topic
No spam. Unsubscribe anytime.
State contribution to police pension rises roughly $55,150 to $479,007.51, staff says
Summary
The board heard staff report that state contributions to the police pension rose from about $424,006 last year to $479,007.51 this year; the money has been deposited and some was redeployed to bonds this quarter.
The Chair reported the plan received $424,006 last year and $479,007.51 this year, an increase of about $55,150. "This year, the plan received $479,007.51, an increase of $55,150," the Chair said, and added that the funds have already been deposited.
Consultant Frank Wong also told trustees that state monies arrived late August and that roughly $300,000 of the recent funds were deployed into bonds and fixed income this quarter, supporting liquidity and a partial rebalancing away from equity positions. There was no vote required; the board received the update and proceeded to other agenda items.
