Meeting Time: August 15, 2017 at 6:00pm PDT
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Agenda Item

12. 17-0353 Adoption of Investment Guidelines for the New Pension Rate Stabilization Fund; Adoption of Funding and Distribution Policies for the City's Other Post-Employment Benefits (OPEB) and Pension Rate Stabilization Trust Funds (Finance Director Moe). ADOPT GUIDELINES AND POLICIES

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    Gary Osterhout over 6 years ago

    The withdrawal "guidelines" are far short of what they should be, provide fuel for mischief. Should be MANDATED as to be used only at last resort (not a guideline), in order to make sure that first the budget is cut as much as possible. Example: when Economic Uncertainty reserves are recommended by the CM to be used for basic expenses, a "pension stabilization" reserve is certainly subject to abuse. Unnecessary reserves allow unnecessary government expansion, by diminishing risk of cutbacks.