Resolution Pension Funding Policy

RESOLUTION NO. R

A RESOLUTION OF THE COUNCIL OF THE CITY OF
GLENDALE, MARICOPA COUNTY, ARIZONA, ADOPTING
THE PUBLIC SAFETY PERSONNEL RETIREMENT SYSTEM
PENSION FUNDING POLICY AND FORMALLY ACCEPTING
THE EMPLOYER’S SHARE OF THE ASSETS AND
LIABILITIES UNDER THE SYSTEM, BASED ON THE
SYSTEM’S ACTUARIAL VALUATION REPORT.

WHEREAS, the City of Glendale adopts a Pension Funding Policy (the “Policy”) to identify
the Council’s pension funding objectives and comply with new Arizona statutory requirements
contained in A.R.S. 38-863.01.

BE IT RESOLVED BY THE COUNCIL OF THE CITY OF GLENDALE as follows:

SECTION 1. That to meet the new Arizona statutory requirements contained in A.R.S. 38-
863.01, the City of Glendale hereby adopts its Public Safety Personnel Retirement System Pension
Funding Policy and accepts the employer’s share of the assets and liabilities under the System, based
on the System’s actuarial valuation report.

SECTION 2. That the City Manager and City Clerk are authorized and directed to take such
additional steps as are necessary to effectuate this policy on behalf of the City of Glendale.

PASSED, ADOPTED AND APPROVED by the Mayor and Council of the C ity of Glendale,
Maricopa County, Arizona, this 28th day of June, 2022.

Mayor Jerry P. Weiers
ATTEST:

Julie K. Bower, City Clerk (SEAL)

APPROVED AS TO FORM:

Michael D. Bailey, City Attorney

REVIEWED BY:

Kevin R. Phelps, City Manager