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Independent peer review finds Beaumont firefighters’ pension valuation reasonable; recommends documentation, assumption tweaks
Summary
Milliman actuary Ryan Falls presented an independent actuarial peer review of the Beaumont Firemen's Relief and Retirement Fund, concluding the December 31, 2024 valuation was reasonable and complied with standards of practice, while suggesting enhancements to assumptions and written communication.
An independent peer review of the Beaumont Firemen's Relief and Retirement Fund found the plan valuation reasonable and suitable for council decisions, but recommended refinements to assumptions and the fund's written communications.
Ryan Falls, an actuary with Milliman, told council the firm reviewed the pension fund’s December 31, 2024 valuation and was able to replicate the liabilities within about $100,000. "We…
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