LTC 059-2022 BAC Motion 2.8.22059-2022
MIAMI BEACH
OFFICE OF THE CITY MANAGER
LTC NO.
LETTER TO COMMISSION
TO: Honorable Mayor Dan Gelber and Members of the City
Commission
FROM:
DATE:
Alina T. Hudak, City Manag~
February 1 1 , 2022
SUBJECT: Budget Advisory Committee Motion
The purpose of this Letter to Commission (LTC) is to inform the Mayor and City
Commission of a motion passed by the Budget Advisory Committee at its meeting
on February 8, 2022.
The Budget Advisory Committee urges the Board of Trustees of the City's Pension
Funds for Firefighters and Police Officers and the Miami Beach Employee's
Retirement Plan to consider further lowering the assumed investment rate of return
in order to limit the City's exposure to possible future adjustments in the investment
market.
Motion made by: Honey Bernstein
Motion second by: Hagai Gringarten
Motion passed: 8-0
ATH /TOS g