Media Contact:

Eliza Papazian, Public Information Officer

epapazian@glendaleca.gov

(818) 548-4859 (direct)

City of Glendale Reopens Application Period for Blue Ribbon Pension Review Committee
Applications Due by 5:00 pm on Monday, July 5, 2021

Glendale, CA - On March 30, 2021, the Glendale City Council moved to form a Blue Ribbon Pension Review Committee. This Committee will be tasked with gaining an understanding of the overall pension system structure, discovering future anticipated costs, and ultimately advising the City Council on options and priorities for addressing pension costs and reducing the unfunded actuarial liability.

Specifically, this Committee will be tasked with the following duties:

1. Review the City’s pension system to offer a better understanding of its structure and future costs.
2. Conduct a review and opinion on what the City has accomplished to date with its pension reform efforts.
3. Recommend options for reducing or eliminating the City’s unfunded actuarial liability.
4. Review alternative financing methods potentially available to the City.
5. Evaluate the feasibility of offering alternative retirement solutions.
6. Produce a final report and recommendations to the City Council regarding a prudent approach to addressing pension expenses.

The Pension Review Committee will be comprised of fifteen (15) individuals, ten (10) of which will be appointed by City Council through an application process. The remaining five (5) members will be appointed by the City Manager.

Members selected to serve in this capacity should possess relevant education and experience in such fields as finance, law, or accounting in order to competently and responsibly engage in the review and recommendation process. Those interested in serving on the Blue Ribbon Pension Review Committee will need to submit an application, which can be found here to myglendale@glendaleca.gov by 5:00 pm on Monday, July 5, 2021. All applications received by this deadline will be shared with the City Council for their review and selection of candidates.

It is anticipated that the Committee will meet twice a month through December 2021, after which a final report with recommendations will be presented to the City Council.

For questions or more information, please contact John Takhtalian, Deputy City Manager, at jtakhtalian@glendaleca.gov or (818) 548-4844. Applications can also be found online at www.glendaleca.gov/pensionreviewcommittee.

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