P. PENSION PLANS:

City Commission · 2026-05-13 · agenda_item

This item concerns the City of Winter Park's three pension plans for its full-time employees. The City plans to fund annual pension costs through its budget. Police and Fire Department employees are covered by separate defined benefit plans established in 1959. General employees participate in a defined contribution 401(a) plan created in 1992, which is independently administered and not included in the City's financial statements. This is a planned administrative and financial review item. The scope of work involves financial reporting, actuarial analysis, and potentially adjustments to funding or plan administration based on the review. Local businesses in financial services, accounting, and legal services may find opportunities related to the ongoing administration and review of these pension plans.