pages: PensionBoard/2020-01-27.pdf, 2
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PensionBoard | 2020-01-27 | 2 | City of Alameda Minutes of the Regular Meeting of the Pension Board - Monday, October 28, 2019 Page 2 Finance Accountant Otto explained the quarterly reports. The payouts were consistent until September where there is an increase due to pay out of the uniform allowance. Trustee Soderlund commented it was good seeing account activity. Finance accountant Otto explained the contributions into these plans exceeds the pay outs and that excess is used to pay down unfunded liability with CalPERS. Chair asked how many members are in 1079 and 1082 plans. Finance accountant Otto replied 12 and 1, respectively. Chair asked why pension plan pays for uniform allowance for retired employees. Financial Service Manager Nguyen responded it was the outcome of a lawsuit. Trustee Soderlund moved to accept the financial statement as presented and Secretary Bronstein seconded. Passed 3-0. 5. ORAL COMMUNICATIONS, NON-AGENDA (PUBLIC COMMENT): There were no oral communications from the public. 6. PENSION BOARD COMMUNICATIONS (COMMUNICATIONS FROM BOARD): There were no oral communications from the Board. 7. ADJOURNMENT: There being no additional items to come before the board, the meeting was adjourned at 4:47 p.m. Respectfully submitted, me Nancy Bronstein Human Resources Director | PensionBoard/2020-01-27.pdf |