An ordinance amending Chapter 3.08 of the Metropolitan Code of Laws to require the Metropolitan Benefit Board to provide an annual report to the Council regarding the Metropolitan Government pension system.

BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. That Chapter 3.08 of the Metropolitan Code of Laws be and the same is hereby amended by adding the following new Section 3.08.250:

"3.08.250 Annual report to the council.

Not later than December 31 of each year, the employee benefit board shall provide a written report to the metropolitan council containing the following information:
A. The annual required contribution and the actual contribution made to the metropolitan government pension plans made for the previous fiscal year.
B. The most recent 'actuarial valuation report' of pension plans including all attachments (such as the assumptions used) and a summary of the key plan provisions.
C. If not shown in the actuarial valuation report, the following demographic and financial information for the police department personnel:
1. The total number of personnel.
2. The average age of personnel.
3. The average years of service.
4. The average salary paid to police department personnel.
5. The total number of police pensioners including the terminated vested and surviving spouses along with the total monthly or annual benefit amounts.
6. Actuarial accrued liability for active pensioners, terminated vested, disability pensioners and service pensioners in pay status.
7. Normal cost of the police pensioners within the metropolitan government pension system."

Section 2. This Ordinance shall take effect from and after its passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: David Briley

LEGISLATIVE HISTORY
Introduced:	June 6, 2006
Passed First Reading:	June 6, 2006
Referred to:	Personnel Committee
Passed Second Reading:	June 20, 2006
Passed Third Reading:	July 18, 2006
Approved:	July 19, 2006
By: