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Retirement board approves small reallocation in GASB 67 financial report
Summary
The Imperial County Employees' Retirement System board approved a technical revision to its GASB 67 financial reporting schedules after an actuary identified a misallocation of market‑value assets between employer groups; the change does not affect the plan’s funding valuation or contribution rates.
The Imperial County Employees' Retirement System (ISERS) board on March 19 approved a revision to its GASB 67 financial reporting schedules after consultants identified a small misallocation of market‑value assets between employer groups.
Actuary Andy Young of Siegel told trustees the change only affects the plan’s financial‑reporting schedules and does not alter the funding valuation used to set employer or employee contribution rates. “There’s no change to the funding report,” Young said. He…
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