File #: 2020-8422   
Type: Regular Agenda Item
Body: Pension Board
On agenda: 10/26/2020
Title: Pension Payroll and Financial Report - Quarter Ending September 30, 2020 (Finance - Funds 801 & 802)
Attachments: 1. Exhibit 1- Quarterly Financial Report 9.30.2020

Title

 

Pension Payroll and Financial Report - Quarter Ending September 30, 2020 (Finance - Funds 801 & 802)

 

Body

 

To: Chairman and Members of the Pension Board

 

From: Annie To, Finance Director

 

Re:  Pension Payroll and Financial Report for the Quarter Ending September 30, 2020

 

The following is a summary of the Fiscal Year 2020-2021 first quarter pension charges for Plan 1079 (Police and Fire) and Plan 1082 (Police):

 

The total pension charges for Plan 1079 (Police and Fire) in September 2020 decreased due to the quarterly uniform allowance payout and a prorated pension benefit payout. The pension benefit was prorated due to a pensioner who passed away on September 18, 2020.

 

Pension charges for Plan 1082 (Police) remained the same for each month in the first 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,

 

 

 

Annie To

Finance Director

 

Exhibit:

1.                     Quarterly Financial Report as of September 30, 2020