Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Midland Fireman Relief & Retirement Fund reports actuarial gains, funding ratio improvement
Summary
The retirement fund reported a net investment return of 11.45% for 2024, assets above $154 million, and an amortization period reduced to about 28.8 years following board actions and city/funder contributions.
Justin Graham, chairman of the Midland Fireman Relief & Retirement Fund, presented the fund’s 12/31/2024 actuarial valuation to Midland City Council. Graham reported that the fund’s market position improved materially after board governance changes and a large city contribution.
Key figures presented: the fund’s net return for 2024 was reported at 11.448%, and fiscal‑year‑to‑date 2025 performance was cited at about 9.6% (September flash report).…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
