RT @AndyBerke: I hope to see you next Saturday, Nov. 23 as we celebrate the grand opening of the new Avondale YFD Center. Be sure to RSVP!…

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City Council


Funding Policy

Required by statute, the General Pension Plan has a document outlining its funding plan. The document addresses several aspects of funding the pension plan with the intent that the accumulation of assets from employee contributions, employer contributions and investment earnings will be sufficient to finance all benefits provided by the Plan.

Resolution 2015-1 General Pension Plan Funding Policy

Actuarial Valuations

Annually the retained actuaries value the cost of the General Pension Plan to ensure that there is sufficient funding of the Plan to pay the promised benefits. Certain assumptions are made about future experience including withdrawals from employment for vested and non-vested employees, death rates in-service and after retirement, change in salary levels that affect employee and employer contributions, retirement rates and investment returns. The result of this valuation is the contribution rate the City must make for the next fiscal year to support the funding of benefits in the Plan.

Actuarial Valuations
An Adobe Acrobat file Valuation COC 1-1-2014
An Adobe Acrobat file Valuation COC 1-1-2015
An Adobe Acrobat file Valuation COC 1-1-2016
An Adobe Acrobat file Valuation COC 1-1-2017
An Adobe Acrobat file Valuation COC 1-1-2018

Experience Investigations

Periodically, usually every five years, the retained actuaries will evaluate the economic and demographic components of pension plan experience. These studies are used to ensure that assumptions about future experience are reasonable relative to the Plan and to make recommended changes to the assumptions where they do not accurately reflect experience of the Plan. These assumptions are then applied to the actuarial valuation models to produce the Actuarial Valuation report.

Experience Investigations
An Adobe Acrobat file COC Experience Investigation Report 2013
An Adobe Acrobat file COC Experience Investigation Report 2018

 

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Public Notices

The Clerk to the Council publishes public notices related to the official business of the Chattanooga City Council. Specific legal public notices are also published in the Chattanooga Times Free Press whenever required.

Public Notices 2019
An Adobe Acrobat file Audit Committee Notice (Run on 11.06.19)
An Adobe Acrobat file Nov. 26, 2019 Cancellations (Run on 11-11-19)
An Adobe Acrobat file STVR Draft Ord

 

 

City Council
1000 Lindsay Street(map)
Chattanooga, TN 37402

Phone:(423) 643-7170
Fax: (423) 643-7199

 

 

Photo by Mike Williams