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Page 4 of 7 <br /> <br /> <br /> <br /> <br /> <br />Section 115 Trust Fund <br />In December 2018, the City Council approved the investment of $28.0 million of various <br />reserves into a Section 115 Trust Fund to help smooth the pension liabilities, which are <br />expected to grow in the long run. The investment is made in two separate portfolios: the first <br />for $6.7 million in a Conservative portfolio which is available to pay the annual unfunded <br />liabilities if necessary, and the second for $21.3 million in a long-term Capital Growth portfolio. <br /> <br />Page 161 of 674