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Roselle board accepts actuarial valuations for police and firefighters; police contribution recommended to rise
Summary
Actuarial reports for Roselle police and fire pension funds show mixed results: police fund’s funded ratio fell and recommended contribution rose; fire fund improved. The village board voted to accept both reports as presented.
The Village of Roselle on June 23 accepted actuarial valuation reports for both the police and firefighters pension funds, after Foster & Foster presented year‑end funding results that showed a decline in the police fund’s funded status and modest improvement in the fire fund.
The valuations, presented by actuary Heidi Andorfer of Foster & Foster, showed the police fund’s funded ratio at about 61.3% with an unfunded accrued liability of roughly $22.6 million and an increase in the village’s recommended contribution of about $267,000 year over year. Andorfer said smoothing of prior investment losses and a payroll‑growth…
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