Special Board of Aldermen Page 3
January 22, 2017
MOTION BY ALDERMAN WILSHIRE FOR FINAL PASSAGE OF R-17-087
ON THE QUESTION
President McCarthy
City Clerk Piecuch, if amendments are made can we get the amended copy printed, signed and copies for the
hearings tomorrow morning.
Ms. Piecuch
Yes, we should be able to do that.
Alderman Deane
Mr. Teeboom referred to the CAFR and the percentage that the public works pension plan was funded at 80%
and here it says 85%. Did Treasurer Fredette tell him it was at 80% or did he take 80% out of the CAFR and
has there been a significant increase?
President McCarthy
| think he looked at the CAFR. | took that number from what | traditionally knew it to be.
Alderman Deane
Should it be brought down to the 80%?
President McCarthy
| would suggest that we amend that to 80%.
MOTION BY ALDERMAN DEANE TO AMEND PARAGRAPH FOUR TO CHANGE THE “WHICH IS
FUNDED TO ABOVE 85%” TO “WHICH IS FUNDED AT 80%”
MOTION CARRIED
MOTION BY ALDERMAN LOPEZ TO AMEND PARAGRAPH THREE TO CHANGE “NEW HAMPSHIRE’S
CONTRIBUTIONS” TO READ “NEW HAMPSHIRE’S 35% CONTRIBUTIONS”
MOTION CARRIED
MOTION BY ALDERMAN COOKSON TO AMEND PARAGRAPH ONE TO END WITH THE PHRASE
“SUCH AS HB413,” PARAGRAPH TWO TO END WITH THE PHRASE “SUCH AS HB369” AND
PARAGRAPH FOUR TO END WITH THE PHRASE “SUCH AS HB425.”
MOTION CARRIED
President McCarthy
The only other two things there were was that the discussion of the return and the resolution doesn’t actually
mention the rate of return at the moment it simply says that was one of the promises that we had. The city’s
contribution being $6 million if it were flat, that’s not covered in the resolution and it is something that | intend to
mention when we speak to the House Committee tomorrow morning. | don’t know that either of those may
change anything that is inaccurate in the resolutions so | don’t know if anyone wants to further amendments.
Alderman Siegel
Having just pulled up the CAFR for 2016 the actual number is 79.46% if you want to be precise.
