Summary
The PICA Board convened on June 16, 2015, to review financial trends and address ongoing fiscal challenges. Executive Director Harvey Rice presented updates on the Special Pension Commission’s work, noting ongoing deliberations on pension reform strategies. The Board discussed the slow pace of resolving tax assessment appeals, with members expressing concerns over potential revenue losses. Finance Director Robert Dubow provided insights into the City’s pension liabilities, explaining efforts to rebalance investment portfolios to improve returns. The meeting concluded with discussions on upcoming labor contract negotiations and their financial implications for the Five-Year Plan.