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COUNCIL MEMORANDUM <br /> ��89 - 25 <br /> May 9 , 1989 <br /> T0: The Honorable Mayor and City Council Members <br /> ��' <br /> FROM: James C . Ba� City Manager <br /> i <br /> SUBJECT: Resolution Authorizing Agreement with Mercer- <br /> Meidinger-Hansen for Actuarial Studies - Police <br /> and F' <br /> ire Pension Funds <br /> A resolution authorizing an agreement for actuarial <br /> studies of the Police and Fire Pension Plans has been placed on <br /> the agenda for Monday, May 15 . <br /> Mercer-Meidinger-Hansen is the firm that did these <br /> studies the past two fiscal years and have resulted in <br /> significant levy reductions . Fees under this proposal are up <br /> $300 from the previou, year . <br /> I am recommending studies again this year because of the <br /> Illinois Department of Insurance recommended levies for 1989 <br /> are again out of line from our previous actuarial studies . <br /> It appears that the City is obligated to accept the <br /> Department of Insurance recommended levies or have our o�an <br /> studies made for levy purpnses . <br /> Funds are available in the FY 1989-90 budget for this <br /> work and I recommend your approval of this resolution. <br /> Attachment ' <br /> cc : Ron Lappi, Director of Finance <br /> Dan Sommerfeldt , Assistant City Manager/Director of <br /> Management Services <br />