Review of the Retirement Plans’ Pension and Postemployment Healthcare Plan Actuarial Valuations as of June 30, 2025.

This memorandum addresses the review of the Retirement Plans’ Pension and Postemployment Healthcare Plan Actuarial Valuations as of June 30, 2025. It recommends that the City Council review several actuarial valuation reports related to the Federated City Employees’ Retirement System and the Police and Fire Department Retirement Plan. The memorandum outlines the financial information provided by these valuations, including funding ratios and contribution rates, and indicates that the valuations were prepared in accordance with recognized actuarial principles.

Key points

• The memorandum is addressed to the Mayor and City Council.
• It recommends reviewing actuarial valuation reports for various retirement plans.
• The valuations provide financial information regarding the funding status and retirement benefit costs.
• The reports were prepared by Cheiron Inc. and adhere to recognized actuarial standards.
• Funding ratios for pension plans increased from the previous year, except for the Federated OPEB plan.
• The memorandum will be posted on the City Council Agenda website.
• No board, commission, or committee recommendations are associated with this action.

Limitations

• The document contains placeholders for specific details such as dollar amounts and member contribution rates that are not fully filled in.
• The document does not specify the outcomes of the recommendations made.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

The source text indicates this attachment appears to be a draft document.

This document appears to be a presentation regarding actuarial valuations as of June 30, 2025, intended for the City Council. It discusses the Federated City Employees’ Retirement System and the Police & Fire Department Retirement Plan, presented by John Flynn on April 21, 2026.

Key points

• Focus on OPEB unfunded liability and funded percentage for the explicit subsidy only.
• OPEB amounts relate to contributions to the Trust for the explicit subsidy, assuming the City contributes the actuarially determined amount.
• Includes a change in Pension UAL by source for Police and Fire and Federated.

Limitations

• The document appears to be a draft as it contains incomplete sections and placeholders.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.