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Oro Valley commission delays recommendation on PSPRS pension funding policy amid budget concerns
Summary
Commissioners heard staff propose maintaining nearly the same total PSPRS contributions for FY2025–26 despite an actuarial‑suggested decline in the employer rate; members asked for more analysis on long‑term budget impacts and continued the item to the next meeting.
The Budget and Finance Commission on April 15 discussed a draft pension funding policy for the Public Safety Personnel Retirement System (PSPRS) covering the fiscal year ending June 30, 2026, and voted to continue the item to the next meeting for additional information.
Mr. Gephardt, the town’s staff liaison, told commissioners state law requires the pension‑funding policy to be updated annually and summarized the draft policy and recent actuarial results. He said the plan’s employer contribution rate is scheduled to decline from about 16.22% to 12.61% next year, based on the actuarial report, and that the plan’s unfunded actuarial liability is “a little over…
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