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City retirement fund posts 7.4% return; funded ratio steady at 82% in latest actuarial report
Summary
Finance staff reported that the City of Fort Pierce Retirement and Benefits System posted a recognized investment return of 7.4% and the funded ratio remained about 82% on the latest actuarial valuation.
Finance staff presented the retirement system’s annual report based on the 2024 actuarial valuation, saying the pension fund remains well managed though its funded ratio is unchanged year‑over‑year.
The presenter told the commission that the plan’s actuarial funding value at fiscal year‑end was about $236.4 million and that market valuations were stronger in April/May; the plan’s recognized investment return was 7.4%, above the plan’s assumed rate of 7.25%. "The City…
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