HomeMy WebLinkAbout6479RESOLUTION NO. 64
A RESOLUTION AUTHORIZING THE 1990 ACTUARIAL
VALUATIONS OF THE PUEBLO FIREMEN'S PENSION
FUND AND THE PUEBLO POLICEMEN RETIREMENT PLAN
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, COLORADO, that
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Pursuant to the requirements of Section 31- 10- 1014.5(1)(b),
C.R.S., an actuarial study and valuation report as of January 1,
1990 is authorized to be performed and prepared by an actuary or
firm of actuaries designated by the Fire and Police Pension
Association (FPPA) for both the Pueblo Firemen's Pension Fund and
the Pueblo Policemen Retirement Plan.
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The costs of the actuarial studies and valuation reports
shall be an expense of FPPA and paid for as provided in Section
31 -30- 1012(4), C.R.S.
SECTION 3.
In performing the actuarial study and valuation report of the
Pueblo Firemen's Pension Fund, the actuaries are authorized and
instructed to determine, for information purposes only, the costs
and liabilities associated with certain benefits which are not
presently provided by the Pueblo Firemen's Pension Fund, to wit:
full rank escalation; a benefit option affording reduced normal
retirement pension payments to the member until death with con-
tinuation of the reduced pension payments to a named beneficiary
spouse for life; and a benefit option affording reduced normal
retirement pension payments to the member until death with one
half of the reduced pension payment amount thereafter payable to a
named beneficiary spouse for life.
ATTEST:
INTRODUCED: Decembe 26 , 1989
By MIKE SALAMINO
Councilman
APPROVED:
Ci y Clerk Pre of the City Council
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