CLICS/CLICS2023A/commsumm.nsf
PUBLIC
BILL SUMMARY For PRESENTATION FROM THE FPPA
INTERIM COMMITTEE PENSION REVIEW COMMISSION
Date Sep 13, 2023
Location HCR 0112
Presentation from the FPPA - Committee Discussion Only
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01:03:18 PM |
Executive Director Kevin Lindahl, representing the Fire and Police Pension Association (FPPA), provided an overview of the FPPA. The presentation may be found in Attachment A.
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01:10:07 PM |
Mr. Lindahl continued
by discussing FPPA membership, plan organization, funded status, and contribution
rates. Committee discussion ensued regarding full funding and cost
of living adjustments (COLA).
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01:15:25 PM |
Mr. Scott Simon,
representing FPPA, continued by discussing FPPA's investment assets and
allocations as well as noting the last 20 years of annual returns. He
also discussed FPPA's performance vs. benchmarks.
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01:21:09 PM |
In response to committee questions, Mr. Simon discussed the definitions of various terms.
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01:29:41 PM |
Mr. Adam Franklin, representing FPPA, discussed 2023 COLA legislation and FPPA's updated COLA policy.
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01:35:36 PM |
He continued by discussing some examples of the new policy in 2023 and 2024.
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01:41:34 PM |
Mr. Franklin continued by discussing additional saving opportunity for members.
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01:42:19 PM |
Mr. Franklin continued by discussing possible 2024 legislation.
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01:50:33 PM |
In response to a
committee question, Mr. Lindahl discussed the history of the death and
disability plan pre-1997.
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01:56:47 PM |
Mr. Scott Simon returned to discuss the Pension Review Commission's request for passive vs. active approach.
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01:57:36 PM |
Mr. Simon discussed managing risks and comparison to other funds.
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02:09:10 PM |
Mr. Simon continued by discussing transition costs and fees.
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02:34:11 PM |
Committee discussion with FPPA continued.
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