The county’s governing body on education adopted a pension board charter at Tuesday’s meeting at Dunwoody Springs Elementary in Sandy Springs.
The move comes on the heels of recent legislation shifting the governance of the Fulton County School Employee Pension Fund.
Act 136 — formerly House Bill 380 — essentially established the pension board, charging that committee with administration of the fund under the direction of the Fulton school board.
“This is an opportunity for the school board to provide additional oversight to the retirement funds that our employees have worked so hard for,” said school board President Linda Schultz. “The appointment of this pension board does not change any of the benefits under the plan, but it will provide extra checks and balances to make sure it is protected and managed appropriately.”
The five-member pension committee, appointed by the school board, is comprised of retired administrator Steve Curry, former teachers Ferman Estrada and Natalie Lambright and current teachers Gregory Haitz and Robert Ham.
In other business, the school board also approved a proposed adjustment to its 2013-14 operating budget amounting to a 10 percent increase in academic and athletic supplements.
The board unanimously passed its $1.17 billion budget for the 2013-14 academic year last week.
The fiscal plan reflects a 0.6 percent decrease from 2012-13 and no increase in millage property taxes. It also incorporates a 3 percent salary increase for employees.
“We’re in a position where more money is directed to the classroom while also providing a raise for all staff, no furlough days and no increase in school taxes,” said Fulton Schools Superintendent Robert Avossa. “We are in a better financial situation today than many other school systems, and it’s because of the school board’s fiscal diligence.”