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Douglas County pension fund at about $458.5 million after 25-year review; funded ratio ~68%
Summary
The Douglas County pension committee chair presented a 25-year review showing the pension’s assets totaled roughly $458.5 million at the end of 2024, a funded ratio of about 68% (2023 figure), and ongoing work to restore funding levels after benefit changes and market downturns.
Lori, chair of the Douglas County pension committee, told the Board of Commissioners during the April 29 meeting that the county’s pension assets totaled approximately $458,500,000 as of Dec. 31, 2024 and that the plan’s funded ratio stood at about 68% at the end of 2023. The presentation reviewed 25 years of plan history and recent steps taken to improve funding.
The nut of the presentation: the pension’s funded ratio declined after benefit increases in the late 1990s and early 2000s and the 2008 market downturn, and the county has since taken contribution and policy actions to improve the plan’s health. Lori said the pension distributed roughly $70,000,000 in benefits and expenses net of contributions over the 25-year period and earned about $406,000,000 in investment returns…
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