City Council

I.1 Pension Funding Update and Strategy Discussion\nReceive an update on the City’s pension funding status and discuss strategies for\nlong-term stabilization of pension costs.\nRecommended Action:\nIt is recommended that the City Council discuss and provide direction to City staff on\nthe following strategies to address pension volatility and rising costs.\n1. Establish Pension Volatility Reserve\na. Establish reserve target\nPage 5 of 8\nb. Identify funding term\nc. Identify additional funding sources\nd. Identify eligible use scenarios\n2. Further Refine Funding Policy\na. Annual Pension Update & Analysis\nb. Reserve Targets\nc. Consider a Surplus Use Policy