7201BC6F8955E2128725847000580F08 Hearing Summary

Representative Melton made opening remarks.

Dan Slack, J. Scott Simon, and Kevin Lindahl, representing the Fire and Police Pension Association (FPPA), gave a presentation to the committee and distributed a handout (Attachment A).  Mr. Slack gave updates on the FPPA board membership.

Mr. Slack explained changes in the FPPA's membership and investment portfolio.

Mr. Slack explained which FPPA members receive cost of living adjustments.

Mr. Simon discussed the FPPA plan characteristics, asset allocation, plan risk, and annual returns since plan creation.

Mr. Simon responded to committee members' questions regarding returns net of expenses, fees paid by the plan, and change to asset allocation strategy as a result of lowering the assumed rate of return.

Mr. Lindahl discussed FPPA's request for draft legislation.

Mr. Lindahl responded to a committee member's question regarding FPPA's legislative requests.

Mr. Simon responded to a committee member's question regarding risk.