Title
Pension Payroll and Financial Report - Quarter Ending December 31, 2025 (Finance - Funds 101 & 102)
Body
To: Chairman and Members of the Pension Board
From: Ross McCarthy, Finance Director
Re: Pension Payroll and Financial Report - Quarter Ending December 31, 2025
The following is a summary of the Fiscal Year 2025-26 second quarter pension charges for Plan 1079 and Plan 1082:
Pension charges for Plan 1079 (Fire) remained the same as the prior quarter at $29,205 per month. October and December total pension expenses of $30,121 included the quarterly uniform allowance payout, which was erroneously paid twice in this quarter. To correct the error, the recipients will not receive their uniform allowance payouts in the first calendar quarter of 2026.
Pension charges for Plan 1082 (Police) remained the same as the prior quarter at $2,962 per month and throughout the quarter.
Please refer to the attached Exhibit 1 summarizing operating revenues and expenses for Plan 1079 (Police and Fire) and Plan 1082 (Police).
Respectfully submitted,
Ross McCarthy
Finance Director
Exhibit:
1. Quarterly Financial Report as of December 31, 2025