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