Subject:
Title
Consider approval of a resolution concurring with the School Division's VRS Contribution Rate for Harrisonburg City School Division
body
Presented By: City Staff.
Recommendation and Review
It is requested that the City pass a resolution accepting the school division's election of the VRS contribution rate for the Harrisonburg City School Division. The Harrisonburg City School Division has made the election for its contribution rate to be based on the employer contribution rates certified by the Virginia Retirement System Board of Trustees pursuant to Virginia Code § 51.1-145(I) resulting from the June 30, 2013 actuarial value of assets and liabilities (the "Certified Rate"). As the appropriating body, the Harrisonburg City Council is asked to adopt the attached resolution. It has been approved by the Harrisonburg City School Board.