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Pension Payroll and Financial Report - Quarter Ending December 31, 2020 (Finance - Funds 801 & 802)
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To: Chairman and Members of the Pension Board
From: Annie To, Finance Director
Re: Pension Payroll and Financial Report - Quarter Ending December 31, 2020
The following is a summary of the Fiscal Year 2020-21 second quarter pension charges for Plan 1079 and Plan 1082:
In October 2020, the total pension charges for Plan 1079 (Police and Fire) was $77,263 which included the health insurance retro pay from January 2020 to September 2020. November’s total charges decreased to $62,137 due a pensioner who passed away on November 17, 2020. December’s total charges increased to $69,207 from November due to the quarterly payment of the uniform allowance and retro pay for the deceased pensioner’s spouse.
Pension charges for Plan 1082 (Police) remained the same at $2,682 for each month in the second 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:
Quarterly Financial Report as of December 31, 2020