Special Committee on City Pension Sustainability

Agenda

Tuesday, August 18, 2009	Tape No.________________________
3:00 p.m.
Council Chambers 1^st Floor, City Hall	Dana M. Farris, Chief of Legislative Services
Michael Corrigan, Chair	Director: Cheryl L. Brown
Warren Jones, Vice Chair - Absent	Legislative Assistant: Philip Zamarron
Reginald Brown - Absent	Council Auditor: Kirk Sherman
Kevin Hyde - Excused	Chief of Research: Jeff Clements
Stephen Joost - Excused	Attorney: Derrel Chatmon

Subject Matter Experts:

Henry Cook, Jacksonville Retirement System Trustee

John Keane, Police and Fire Pension Administrator

Alan Mosley, Chief Administrative Officer - COJ

Sheila Sharp-Caulkins, Retired Employees Association President

David Kilcrease, Lieutenant – JSO, Corrections Officers Pension

The Chair and the Subject Matter Experts discussed procedural matters for future meetings. There were 2 Council Members excused and 2 Council Members absent. There being no quorum, the Chair thanked the Experts and the visitors in the chamber for their interest and ended the discussion.

Meeting Convened: 3:11 P.M. Meeting Adjourned: 3:21 P.M.

Agenda:

1) Introductory Remarks – Michael Corrigan, Chair

2) What is the proper UAAL percentage funding goal for City pensions to be considered “fully funded”?

3) Should the concept of Pension Excess Contribution (PEC) accounts be abandoned and any remaining PEC funds be deposited into their respective pension funds?

4) What role, if any, should sale or lease of City assets (i.e. real estate) play in generating assets for deposit into pension funds to pay down UAAL?

5) Questions & Answers

6) Recap of Issues & Questions

7) Adjourn

The next regularly scheduled meeting will be held on Tuesday, September 1, 2009 at 3:00 p.m.