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Board reduces prefunding discount offered to city by 15% under valuation trigger
2521459 · March 6, 2025
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.
Summary
The board applied a pre-set methodology tied to market valuation metrics and voted to reduce the discount it will offer the city for prepaying sponsor contributions by 15 percent.
The San Jose Police and Fire Retirement Board voted to reduce, by 15 percent, the discount rate the board offers the city for prepaying sponsor contributions, citing a valuation trigger in the board's prefunding methodology.
Staff explained the prefunding process: the city may prepay its annual sponsor contribution at…
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