Retirement Commission Special Meeting Materials (linked)

TOWN OF WATERFORD
TRANSFER REQUEST FORM
In Series (Over $1000)
RETIREMENT COMMISSION — =
SRDQUARTER
DEPARTMENT
APPROVED CURRENT Budget Budget REVISED
Budget Available Transfer Transfer Available
Line No. Org.Code Object Code Object Description Amount Budget Budget
1 10116 51940 PENSION CONTRIBUTIONS $ 4,348,776 | $ 1,507,576 (17,400)| $ 1,490,176
2 10116 51949 OPEB TRUST CONTRIBUTION $ 750,000 | $ (1,700) 17,400 $ 15,700
3 $ -
4 $ 2
5 $ :
6 $ -
7 $ -
8 $ 2
TOTAL 17,400 (17,400)
Explanation:
The deficit in the OPEB Trust is due to the fees charged for managing the fund. The entire budgeted amount was transferred into the fund.
The Pension Contribution line will have an expected surplus do to turnover in staff which will require payments.
Kim Allen
Department Head
Retirement Commission
First Selectman
Commission/Board Approval
Date
Date
Date
Date
revised 9/9/20

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