HomeMy WebLinkAbout2017-10-17 Finance Committee Action Minutes FINANCE COMMITTEE
ACTION MINUTES
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Regular Meeting
October 17, 2017
Chairperson Filseth called the meeting to order at 7:05 P.M. in the
Community Meeting Room, 250 Hamilton Avenue, Palo Alto, California.
Present: Filseth (Chair), Fine, Holman, Tanaka
Absent:
Oral Communications
None.
Agenda Items
1. Review and Recommend Strategies to Address the City’s Pension
Liability.
MOTION: Chair Filseth moved, seconded by Council Member Fine to:
A. Direct Staff to prepare two alternate long range financial models:
i. A scenario based on CalPERS data; and
ii. A second scenario based on 6.2 percent with no phase-in; and
B. Explore the legal feasibility of releasing existing current and retiree
member participant data to Stanford University and, if feasible, allow
Stanford to produce a third scenario based on that data.
MOTION PASSED: 4-0
Future Meetings and Agendas
Staff and the Committee discussed the schedule of upcoming agenda items.
ADJOURNMENT: Meeting adjourned at 11:05 P.M.