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Investment committee reviews Atherton OPEB actuarial report, recommends council acceptance
Summary
The Town of Atherton Investment Committee heard a GovInvest presentation of the town’s GASB 75 actuarial evaluation of its other post‑employment benefits (OPEB), was told the plan is currently overfunded, and voted unanimously to recommend the report to the Town Council.
The Town of Atherton Investment Committee on the meeting’s OPEB item heard a presentation by Roger Burton, the chief actuary who performs GASB 75 valuations for GovInvest, and voted to recommend acceptance of the GovInvest actuarial evaluation to the Town Council.
Burton told the committee the report measures the town’s OPEB liability — retiree health and similar benefits other than pensions — as of June 30, 2024, and explained the elements that go into the GASB 75 valuation: plan provisions, health‑care cost assumptions and trends, discount (interest) rate, and demographic assumptions. “Your total OPEB liability … went from 7.9 to 8.2,” Burton said, referring to the report’s millions‑of‑dollars figures. He said the town’s fiduciary net…
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