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
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.
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.