12 Remaining Beneficiaries –

The Piedmont Police & Fire Pension Board will meet Wednesday, July 24 at 4:00 PM in the City Council Chambers, 120 Vista Avenue. The meeting will not be broadcast, however it is open to the public. Minutes are kept of the meetings. 

This board will continue as long as there are retirees or dependents who are covered by the old plan established prior to Piedmont entering CalPERS. 

 Board membership of five individuals includes representatives from both the Police and Fire Departments and one appointed position, typically Piedmont’s mayor.  The Board meets quarterly and will continue as long as there are retirees or dependents who are covered by the discontinued plan.

For the last quarter, there were only 12 remaining beneficiaries of the Piedmont Police and Fire Pension fund.  See Finance Director’s Memo 719.

“The representatives of Osterweis Capital Management reported April 24, 2019 on the Police Trust Fund Report and Fire Pension Fund which was valued at $12,773,842, which is up 9.65% for the quarter. They reported that the Other Post Employment Benefits Trust was valued at $8,576,719, which is up 10.32% for the quarter.”

Agenda:

1. Approval of minutes for 4/24/2019  Pension Board minutes 2019-04-24 DRAFT 719

2. Acceptance of Participant Report, summarizing benefits paid in the 4th Quarter of FY 18/19 and current number of beneficiaries Finance Director’s Memo 719

3. Acceptance of the 2nd Quarter 2019 Report of Pension Fund Investments by Osterweis Capital Management

4. Acceptance of the 2nd Quarter 2019 Report of Other Post Employment Benefits Investments by Osterweis Capital Management

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