Retirement Commission Special Meeting Materials (linked)

TOWN OF WATERFORD
In Series (Over $1000)
RETIREMENT COMMISSION aRDQUARTER
DEPARTMENT
APPROVED CURRENT Budget Budget REVISED
Budget Availabie _ Transfer Transfer Available
Line No. Org. Code Object Code Object Description Amount Budget INCREASE: CREASE Budget
4 10116 51940 PENSION CONTRIBUTIONS $4,348,776 |$ 1,507,576 (17,400)| $1,490,176
2 10416 §1949 OPEB TRUST CONTRIBUTION $780,000 | $ (1,700) 47,400 $ 16,700
3 $ -
4 $ -
5 $ .
6 $ -
7 5 -
8 $ -
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.
Kirn Allen 3}ela2
Department Head Date
Retirement Commission Date.
AS Salas.
First Selectman Date
Commission/Board Approval Date
revised 9/9/20

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