City of Winter Springs Board of Trustees Regular Meeting Thursday, May 14, 2026

The City of Winter Springs Board of Trustees held a regular meeting on May 14, 2026, focusing primarily on pension fund investment performance and proposed pension plan design changes. The board reviewed a detailed quarterly investment report from Mariner, discussing asset allocation adjustments including a motion to reallocate $5 million from domestic equities to the Galliard core fixed income fund to reduce portfolio risk. The trustees also examined various asset allocation models to optimize returns and risk, with no immediate changes to the investment policy but agreement to continue discussions. Additionally, the board received an actuarial evaluation report showing improved funded ratios and lower required contributions due to strong asset performance. City management presented proposed pension plan design changes aimed at enhancing competitiveness for recruitment and retention, including increased maximum accrued benefits, higher pensionable overtime hours, earlier retirement eligibility without reduction, and a deferred retirement option program. The board acknowledged these proposals but emphasized their role is to manage the pension trust rather than set policy, deferring final design decisions to the city commission. The board passed a motion to accept the actuarial report and confirmed readiness to manage the trust under any adopted plan changes. No new contracts or procurement actions were taken during the meeting.