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Trustees review OPEB actuarial snapshot and await final audit; funding shortfall noted
Summary
The board reviewed an actuarial snapshot showing plan assets of about $1.12 million and a projected liability near $2.115 million, leaving an unfunded accrued liability of roughly $994,000. Trustees were told funding the plan would require increased contributions and the final audit is pending.
Trustees received an actuarial snapshot of the library's Other Post-Employment Benefits (OPEB) and a preliminary audit status report. The actuarial material indicated the plan had an estimated $1,120,000 in assets for fiscal-year-end 2022 and a projected full liability of about $2,115,000, leaving an unfunded accrued liability of…
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