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Board adopts most OPEB assumptions, defers discount-rate choice until dollar impacts are supplied
Summary
Trustees accepted recommended OPEB assumptions for trends and administrative expense but deferred a final decision on the OPEB discount rate (6.0% vs. 6.25%) until staff provides dollar impacts showing how each option changes contribution requirements.
The board reviewed the retiree health (OPEB) actuarial assumptions and voted to accept the presented assumptions except for the discount rate, which trustees asked staff to quantify in dollars before making a choice.
Staff presented the OPEB preliminary projections and said the trust is about 49% funded. Health-care trend inputs were updated using the Society of Actuaries' recent guidance and reflected…
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