Friday, August 31, 2012

C  I  T  Y    O  F    A  T  L  A  N  T  A

COUNCIL PRESIDENT CEASAR MITCHELL TO SPEAK TO elected OFFICIALS from the metropolitan Jacksonville area ATLANTA’S SUCCESSFUL PENSION REFORM PROCESS

ATLANTA-Council President Ceasar C. Mitchell is scheduled to make a presentation at the Pension Reform Seminar at the University of North Florida on Friday, August 17 from 10 to 2 p.m. The presentation will take place University of North Florida University Center located at 12000 Alumni Drive in Jacksonville, Florida.

Council President Mitchell was invited to speak during the seminar, in part, due to the success the city of Atlanta experienced in reforming its three pension plans in 2011.

The comprehensive pension reform plan created more than $20 million in savings the first year, reduced the city’s exposure to market risk and allows the city to pay off a more than $1 billion unfunded pension liability. The measure is projected to save the city more than $270 million over the next decade, and more than $500 million over 30 years.

“Reforming the City’s pension system was a teaching moment for all involved,” said Council President Mitchell “I hope that our process and success on the issue of pension reform can serve as model for other public entities facing similar challenges.”

Council President Mitchell will present to an audience of elected city council and commission members from the metropolitan Jacksonville area.