DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Administrative Services Contract with the Fire and Police Pension Fund
SUMMARY:
This item would approve an Administrative Services Contract with the San Antonio Fire and Police Pension Fund (Pension Fund), under which the City will receive $16,000.00 per year for providing certain administrative services to the Pension Fund, establish provisions for the use of administrative leave by active member Pension Fund trustees, and to establish provisions for City access to information regarding the Pension Fund for an initial one year term beginning October 1, 2018, with four (4) one year renewal terms.
BACKGROUND INFORMATION:
The Pension Fund is a statutory trust which provides pension benefits for San Antonio Fire Fighters and Police Officers. Historically, the City has provided certain administrative services to the Pension Fund and has accepted compensation for the services rendered.
Ordinance 2015-09-03-0746, dated September 3, 2015, authorized the renewal of an administrative services agreement with the San Antonio Fire and Police Pension Board of Trustees in an annual amount of $16,000.00 payable to the City of San Antonio for the administrative services provided from October 1, 2015 through September 30, 2016. It also included four additional one-year renewal options so long as the contract did not materially change.
Under this agreement, the City will provide administrative support to include processing bi-weekly payrolls, tax reporting, and other administrative services for the Pension Fund office. It additionally grants the office staff and their dependents/beneficiaries participation in the City's health benefits and retirement programs. The City will be reimbursed for the costs incurred for providing those programs as well as for salary and related payroll costs.
Additional provisions have been included in this contract to make available a poo...
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