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Punta Gorda pension trustees adopt new actuarial assumptions, set investment return at 7.25%
Summary
Trustees voted unanimously to accept an experience-study package of actuarial assumption changes, including a new 7.25% investment return assumption; the board’s actuarial consultant said the changes will raise the city’s annual contribution beginning in fiscal 2026 by roughly $75,000–$80,000.
PUNTA GORDA, Fla. — The Punta Gorda Firefighters’ Pension Board voted unanimously to adopt a package of changes to its actuarial assumptions, including a new assumed investment return of 7.25%, the board’s actuary said at the meeting.
The changes came after an experience study and included adjustments to how normal costs are calculated, updates to mortality assumptions based on state guidance, a small increase to turnover assumptions and revised salary-increase assumptions. The board’s actuarial consultant said the package would raise the city’s annual funding requirement beginning when the changes take effect in the 2026 funding year by an estimated $75,000 to $80,000.
The actuarial consultant, Patrick (Actuary, actuarial firm), explained the purpose of the experience study and walked trustees through each proposed change. “Every five…
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