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Pension Payroll and Financial Report - Quarter Ending March 31, 2019 (Finance - Funds 801 & 802)
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To: Chairman and Members of the Pension Board
From: Elena Adair, Finance Director
Re: Pension Payroll and Financial Report - Quarter Ending March 31, 2019
The following is a summary of the third quarter and year-to-date pension charges for the 1079 and 1082 plans.
In January, three pensioners belonging to Plan 1079 (Police) passed away, resulting in the decrease from January to February. The three pensioners who passed were: Eugene Crowley, Eileen Showalter, and Leila Rasmussen. In addition, pension charges for Plan 1079 (Police and Fire) slightly increased in March due to the quarterly payment of the uniform allowance. Further, Plan 1082 (Police) had a slight increase in benefits paid out, beginning in January; the increase for January was retroactively paid out in February.
Please also refer to the attached Exhibit 1 summarizing operating revenues and expenses for the police and fire pension Plans 1079 and 1082.
Respectfully submitted,
Elena Adair
Finance Director
Exhibit:
1. Quarterly Financial Report 3-31-19