City of Fresno Task Force to Begin Analysis Of Best Practices for Pension Systems
The City of Fresno’s 2010 Pension Best Practices Analysis Task Force will hold its initial meeting to begin reviewing key issues related to the City’s pension funds in Room 2165 of Fresno City Hall on Wednesday, March 3, beginning at 3:30 p.m.
The public is invited to attend the meeting, which also will be streamed live on the City’s Web site at www.fresno.gov/video.
The City of Fresno, like most other California cities, is in the throes of economic crisis due to dramatic declines in sales tax, property tax revenue and other fees for service, while concurrently seeing an increase in expenses such as healthcare benefits and pension costs.
The City of Fresno has two pension funds, a Public Safety Fund and a General Employee Fund. Through prudent fiscal management, these funds have been among the highest “funded” systems in the State for years and remain well-funded.
However, as responsible stewards of the public’s money and trust, the City formed the Task Force to identify best practices and any needed reforms for the system.
The Best Practices Analysis will be guided by an expert firm, Bartel Associates, LLC, to provide credible, neutral information and advice to assure the highest level of credibility and responsibility to the Task Force and the Fresno community.
A copy of the agenda and additional information on Task Force objectives are attached.