Gainesville (Fla.) Consolidated Police Officers & Firefighters Pension Plan will conduct an asset-liability study, to be completed in the next two or three months, said Brian Sergeant, pension management analyst. Consultant Summit Strategies Group will assist the $114 million system.
Separately, the city issued $90 million in pension obligation bonds, with roughly $48 million going to the police and fire plan and $36 million to the general employees pension plan, Mr. Sergeant said. The proceeds brought both plans to fully funded status, Mr. Sergeant said. The city sold the 30-year bonds at an interest rate of 5.61%.