Investments, Beneficiary Amounts, and Police Officer Industrial Disability-
The City of Piedmont Police and Fire Pension Board will meet Wednesday, October 17, 2012, 4:00 p.m. in the City Council Chambers. The Piedmont Police and Fire Pension Plan and the California Public Employee Retirement System (CalPERS) are both maintained for qualifying employees and retirees. The two plans operate concurrently, yet independently. Employees hired prior to the City’s joining PERS continue to be covered by the Piedmont Police and Fire Pension Fund, while new employees are covered by PERS.
The return on investments and Piedmont Fund balance has drawn interest as a potential source of unallocated money when there are no remaining beneficiaries.
The agenda for the October 17 meeting includes:
- Acceptance of Participant Report, summarizing benefits paid in the 1st Quarter of FY 12/13 and current number of beneficiaries
- Report of pension fund investments by Osterweis Capital Management
- Consideration of an Industrial Disability Retirement for a Police officer
Staff reports were not available at the time of PCA publishing. All meetings are open to the public.