FPDR Board Meeting 05/26/26

The FPDR Board Meeting held on May 26, 2026, focused primarily on pension plan actuarial assumptions, cash flow borrowing authorization, and a database replacement project. The board reviewed the experience study presented by actuaries from Milliman, recommending minor updates to economic and demographic assumptions that impact pension liabilities and budgeting. A significant procurement-related discussion involved authorizing up to $95 million in cash flow borrowing for the next fiscal year, with a shift from internal loans back to tax anticipation notes (TANs), including a private placement due to city debt management capacity constraints. The board approved this resolution unanimously. Additionally, the board considered a contract with Insight Global for phase one of a long-term database replacement project, involving requirements gathering and process evaluation, with a not-to-exceed budget of approximately $106,000. The meeting also included updates on budget processes, personnel changes, and retirement activity. No formal votes on the database contract were recorded during this session, but the borrowing resolution was passed.