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Pembroke Park pension board approves valuation report; consultant says plan is above target
Summary
Actuarial consultant Gloria Rosen presented the pension plan valuation for the plan year beginning Oct. 1, 2024. The Town of Pembroke Park Pension Board voted unanimously to accept and approve the report after discussion of funding, insurance and required year‑end deposit.
At a meeting of the Town of Pembroke Park Pension Board, actuarial consultant Gloria Rosen presented the actuarial valuation for the plan year beginning Oct. 1, 2024, and the board voted to accept and approve the report.
The valuation showed that the plan’s combined life‑insurance, annuity cash value and pension assets exceed $4.27 million and that the funded ratio is about 4 percentage points higher than the prior year’s figure, Rosen said. She told trustees the plan’s life‑insurance death benefits total $3,818,000 and that those death benefits “remain the same and growing.”
Rosen said the plan covers 11 people, including five current commissioners,…
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