HomeMy WebLinkAbout2006 09 07 Regular 311 City Pension Plan
City of Winter Springs
Special Meeting - September 7, 2006
Add-On Agenda Item 311 City Pension Plan
COMMISSION AGENDA
ADD-ON
ITEM 311
Regular
September 7. 2006
Special Meeting
Authorization
REQUEST: City Manager requesting the City Commission to clarify its intent relative to
exploring alternative enhancements to the City Pension Plan.
PURPOSE: This agenda item is needed for the Commission to clarify its intent relative to exploring
alternative enhancements to the City Pension Plan.
CONSIDERATIONS: On August 14,2006 it appeared that the City Commission indicated its intent to
explore the feasibility and desirability of potential enhancements to the City Pension Plan after
completion of the budget, investment manager selection process, and update to the pension plan
documents.
Byron Giltz has filed a letter with the Pension Board, City Commission and my office requesting a
meeting with the Commission to discuss the Pension Plan. Based upon my interpretation of Mr. Giltz's
letter, it appears to me that he is focused on local law plans to the exclusion of other alternatives.
FUNDING: N.A.
RECOMMENDATION: It is recommended that the City Commission do the following:
1. Clarify if the Commission desires to move forward at this time with the exploration of the
feasibility and desirability of the alternative enhancements to the plan and, if so, direct the City
manager to develop a detailed study methodology and cost estimate consistent with the City's
study model.
2. Determine if the Commission desires to have a work shop with the Commission as requested by
Mr. Giltz, and if so determine a satisfactory date with the Commission.
ATTACHMENTS:
Byron Giltz Letter of August 30, 2006
COMMISSION ACTION: