Agenda

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ARF- 6122

2. A.

Work Session

Meeting Date:	06/23/2020
Submitted For:	Mary Springer	Submitted By:	Mary Springer, Finance Director
Department:	Finance

Information

Request/Subject

Presentation of options to address Public Safety Personnel Retirement System (PSPRS) unfunded liability.

Background Information

Finance engaged Mark Reader from Stifel to identify cost saving opportunities and options for an annual level payment for PSPRS unfunded actuarial accrued liability (UAAL). Actuarial estimates the UAAL growth year over year to be 7.3%. Option to discuss will be using a debt instrument at a lower interest rate to pay off the UAAL. Options and risks will be discussed during the work session.

Evaluation

Board to determine viability of options and provide direction to staff.

Conclusion

N/A

Recommendation

Information only

Suggested Motion

Information/Discussion regarding funding options for Public Safety Personnel Retirement System (PSPRS) liability. (Mary Springer)

Attachments
Presentation by PSPRS
PSPRS-Presentation by Stifel