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•City provides two important retirement benefits to <br />qualifying employees: a pension and health benefits <br /> <br />•Working to fully fund retiree health benefits <br />•Currently 32% funded <br />•Unfunded liability approximately $58M <br /> <br />•City is making additional payments and is discussing <br />potential changes to the benefit for future <br />employees to reduce City costs <br /> <br />•By state law, the City Council must consider an <br />actuarial report when changing this benefit <br />Retiree Health Benefits