April 19, 2011

News Release

For Immediate Release

Police-Fire Pension Fund Ratio Above 50 Percent

In a presentation today, Police-Fire Pension Fund Board of Trustees chairman Ken Homan told City Council that the once-ailing plan is on the mend, thanks to an infusion of revenue from a dedicated sales tax, higher than expected investment returns and several other changes that have helped ease the uncertainty that surrounded the plan for many years.

Highlights of the presentation included:

"It is important to let the public know what an extraordinary thing they have done to approve a tax increase, addressing the problem head-on with what should prove to be a true long-term solution," Homan said. "The responsibility of managing those dollars to reach the goal of the Fund being self-sustaining is an important job. The Board takes that responsibility very seriously and feels fortunate to have the opportunity to be part of something that will help shape the future of the City."

For more information, contact: Ken Homan, Police-Fire Pension Fund Board of Trustees chairman, (417) 569-1614.

city of springfield

Office of the City Clerk

840 Boonville Avenue • P.O. Box 8368 • Springfield, MO 65801
417-864-1651 • Fax: 417-864-1649 • springfieldmo.gov