A board of trustees governs each plan, with each board consisting of seven trustees. These plans are maintained as pension trust funds and included as part of the City’s reporting entity. City ordinance and state law require contributions be determined by actuarial studies at least every three years. Stand-alone financial reports are not issued.
Note 10 in the City of Fort Myers' Comprehensive Annual Financial Report provides additional information about each pension plan.
An amendment of Part VII of Chapter 112, Florida Statutes, requires certain additional disclosures from all local pension plans, using prescribed assumptions and methods. A copy of the final rule may be accessed online at the Florida Department of State's website, www.flrules.org. The links for the City's separate pension plans provide the required actuarial disclosures in compliance with the new rule, which went into effect on April 29, 2015.