TO: Mayor Bien-Willner and Town Council Members
FROM: Brian Dalke, Interim Town Manager
Douglas Allen, CPA
DATE: May 9, 2019
DEPARTMENT: Finance
Staff Contact Douglas Allen
End
AGENDA TITLE:
Title
Discussion on the Public Safety Personnel Retirement System (PSPRS).
Body
SUMMARY STATEMENT:
In the Town Council’s top priorities and management’s budget focus is having a fully funded Public Safety Personnel Retirement System (PSPRS) for the Town’s police employees who are regularly assigned hazardous duty.
In an effort to gain a solid understanding of the shifting PSPRS liability and options the Town has to pay down its “unfunded liability”, a team of experts has been assembled. This team includes representatives from the PSPRS, financial advisers and underwriters, bond council and Town staff.
This meeting is for information, discussion and to consider specific options to find the financial plan to pay the unfunded liability.
ATTACHMENT(S):
Analysis