City of Winter Springs Board of Trustees Meeting September 8, 2026 [RESCHEDULED from August 13th]

The City of Winter Springs Board of Trustees held a meeting on September 8, 2026, primarily focused on financial and pension plan matters. The board received a detailed quarterly investment return report and asset allocation analysis from Jack Everett of Mariner, highlighting strong portfolio performance with a total fund value exceeding $91 million. The board discussed the need to raise approximately $2 million in cash to cover benefit payments, ultimately approving a motion to rebalance the portfolio by withdrawing funds primarily from the broad fixed income category, DFA international equity, and Vanguard inflation-protected securities. Additionally, the board reviewed proposed amendments to the city's defined benefit pension plan, which included increased maximum accrued benefits, expanded pensionable overtime hours, new retirement eligibility provisions, and a deferred retirement option plan (DROP) with a fixed 4% interest credit. The board authorized Chairperson Santoro to sign an acknowledgment of the actuarial impact statement related to these changes, noting a projected 4.2% increase in the city's pension contribution for fiscal year 2027. No other procurement or contract awards were discussed during the meeting.