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Actuary Analysis: Impact of Reducing Police Officers

"Dear Mayor and City Council Members, [Excerpt from 8/11 email] Please review the attached letter from the external consulting actuary for the Austin Police Retirement System (APRS), Gabriel, Roeder, Smith & Co. It explains that current City Council discussions and considerations of significantly reducing police officers of the Austin Police Department will have a negative actuarial funding impact on the System. For the second fiscal year in a row it appears the City will direct no additional funding to APRS in spite of the revised actuarial funding status of the System revealed over a year ago following an actuarial experience study. Please be advised that the funding status will be further worsened by significant reductions in System membership due to the associated reductions in contributions based on payroll." Pattie Featherston Executive Director Austin Police Retirement System (APRS)

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