City of Quincy issued the following announcement on April 26.
Today’s Finance Friday topic is Pensions. On April 15, the attached slide presentation was given to City Council. The Police and Fire Pensions are dictated by Illinois State Statutes. The City must follow these statutes as they relate to the pension funds. Each Pension Fund also has its own board. The Pension Board recommends the annual required contribution from the City. This recommendation is based on an Actuarial Report from either the state or an independent actuary.
Click here to view the presentation.
Original source can be found here.
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