|
To all members of the El Paso Firemen's and Policemen's Pension Fund: I wanted to let you know the status of the second portion of the city's contribution to our pension for this year. As you know, pursuant to the terms of our underfunded settlement agreement in 2007, the city agreed to contribute two lump sums to our fund: $100,000,000 in 2007 and $110,000,000 by the end of July, 2009. The first portion was received in 2007 and has already been put to work in our retirement fund. I have just been informed by the pension administration office that the city intends to wire the $110,000,000 to our pension fund's account next Thursday, July 30, 2009. When the funds have been successfully deposited in our account(s), I will report back to you with confirmation. If you have any questions regarding this or any other pension-related matter, please don't hesitate to call me at 319-3376. Thank you for your patience as we collectively work for the successful conclusion to this monumental agreement. Always your servant, 8-6-09 Hello All: I just wanted to confirm for you that last Thursday the $110 million was deposited by the city into your pension fund as our agreement stipulated. Sorry for the delayed update on this subject. If you have any questions please feel free to contact me at any time. Have a great day! Michael Calderazzo Chairman El Paso Firemen's and Policemen's Pension Fund
|
