Board endorses hiring Foster & Foster for experience study to update assumptions
Trustees unanimously endorsed initiating an experience study—expected to cover 2021–2025 experience and feed into the 2027 valuation—to review assumptions such as mortality, retirement and payroll growth, staff said.
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Trustees discussed that the plan's last experience study covered data through 2020 and the presenter recommended initiating a new study covering experience through 2025 to inform the 2027 valuation. A board member moved to engage Foster & Foster to run the study; the motion was seconded and the board unanimously endorsed initiating the work.
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