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Fiduciant tells Torrington trustees pension plans are actuarially sound; OPEB trust funded and earning returns
Summary
Fiduciant Advisors presented an informational update on Nov. 5 after the joint Board of Trustees lacked a quorum, reporting the employee pension plan at about 82% funded and the police-and-fire plan about 66%, and noting the city—s OPEB trust holds nearly $3 million and has produced double-digit returns over the last year.
Fiduciant Advisors delivered an informational update on Torrington—s pension funds and the city—s OPEB trust during a nonmeeting presentation on Nov. 5 after the joint board of trustees failed to reach quorum.
Chris Casimir of Fiduciant told trustees the firm completed a corporate merger that does not change the service team assigned to the city. He also warned that Principal, the custodian bank for the plans, will stop accepting paper instructions in the new year; Casimir said…
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