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City CFO outlines multi-year plan to unwind $25.7 million pension unfunded liability
Summary
Roswell's CFO told the open forum that an unfunded pension liability grew from about $10.1 million in 2011 to $25.7 million in 2024; the city is transitioning plan management, increasing annual payments and expects a multi-year schedule to eliminate the liability.
City Chief Financial Officer Bill Gottschall told the Sept. 29 open forum that Roswell’s defined‑benefit pension carried an unfunded liability that grew markedly since 2011 and that the city has begun steps to address the shortfall.
Gottschall said the pension plan was frozen to new participants in February 2011, and at that time the unfunded liability was about $10.1 million. "By 2024 that liability had grown to $25,700,000," he told the forum. He said annual actuarial-required contributions rose from roughly $3.6 million in 2011 to about $5.7 million in 2024; that payment level was subsequently reduced to $5.0 million for 2026 as the city and actuaries refine assumptions.
Gottschall said staff moved the plan’s management in 2024 from the Georgia Municipal Employee Benefit System…
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