FY2008-16 State PERS/TRSKODIAK ISLAND BOROUGH
RESOLUTION NO. FY2008 -16
Introduced by: Mayor Selby
Requested by: Mayor Selby
Drafted by: AML
Introduced: 12/06/2007
Adopted: 12/06/2007
A RESOLUTION SUMMARIZING THE KODIAK ISLAND BOROUGH ASSEMBLY'S POSITION
ON PERS/TRS WITH THE STATE BEARING 85% OF THE UNFUNDED PERS PAST
SERVICE COST LIABILITY, AND ALL PERS EMPLOYERS PAYING 15 %, WITH THE STATE
PERMANENTLY PAYING ALL PAST SERVICE COSTS RELATED TO THE TRS SYSTEM
WHEREAS, the Kodiak Island Borough supports amending State Statutes to reflect an actual
consolidated PERS plan; and
WHEREAS, the Kodiak Island Borough supports having one consolidated normal cost rate that
all member employers pay; and
WHEREAS, the Kodiak Island Borough believes that 85% of the PERS unfunded obligation
should go on the State's books and be accounted for and paid by the State as a separate stand-
alone obligation; and
WHEREAS, the Kodiak Island Borough believes that the other 15% of the unfunded obligation
belongs to all PERS members; and
WHEREAS, the Kodiak Island Borough believes that in order to pay the 15% of the unfunded
obligation, there should be a separate uniform consolidated past service cost rate that all
member employers pay, that is a separate rate from a uniform, consolidated normal cost rate;
and
WHEREAS, the Kodiak Island Borough believes that the State should permanently pay all past
service costs related to the TRS system; and
WHEREAS, the Kodiak Island Borough supports seeking out and using available methods to
reduce the future carrying costs of the unfunded obligations.
NOW, THEREFORE, BE IT RESOLVED, THE ASSEMBLY OF THE KODIAK ISLAND
BOROUGH wish to summarize and make clear that its PERS position is an 85/15% split of the
unfunded liability and uniform, consolidated normal cost rate and past service cost rates.
ATTEST:
ADOPTED BY THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH
THIS SIXTH DAY OF DECEMBER, 2007
KODIAK ISLAND BOROUGH
Kodiak Island Borough, Alaska
Nova M. Javier, CMC, Borough Clerk
ome M. SeI • = '• g ayor
Resolution No. FY2008 -16
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