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Finance staff reports OPES trust more than fully funded; actuarial study shows 114.9% funded with investment gains
Summary
Staff told the committee the Other Post-Employment Benefits (OPES) trust has exceeded full funding, reporting $10 million-plus in assets, roughly $1.3 million in investment gains and a 114.9% funded ratio on the most recent actuarial review; staff noted future retiree payouts will raise contribution needs over the next decade.
Finance staff briefed the committee that the city's OPES trust has grown above the target funding level. The city's trust has more than $10 million in assets and showed about $1.3 million in investment gains in the recent period; the most recent actuarial review calculated a…
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