Funding and Actuarial Reports
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.
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 |
|---|
 COC Experience Investigation Report 2013 |
| COC Experience Investigation Report 2018 |
| COC Experience Investigation Report 2018-2023 |
City of Chattanooga
General Pension Plan
Human Resources
2nd Floor City Hall
101 E. 11th Street (map)
Chattanooga, TN 37402
Phone (423) 643-7200
Fax (423) 643-7226
Email: cpowell@chattanooga.gov