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City treasurer reports improved pension funded status; budget staff unveils Budget Explorer and first‑quarter numbers
Summary
City Treasurer Jason Vandiver told council the pension plan improved to about 76% funded and overall liabilities are ~80% funded when combined with OPEB; Budget Director Chrissy Hamill reported first‑quarter FY'26 spending and demoed a Budget Explorer tool to increase transparency.
City Treasurer Jason Vandiver presented an update on Charlottesville’s retirement systems and said the city’s pension plan and OPEB trust have posted improvements that staff attribute to contributions and investment returns.
Jason Vandiver, City Treasurer, reported plan assets for the defined‑benefit pension at about $194,000,000 and an OPEB trust of roughly $68,000,000. He said the pension funded status improved by "just over 7%" in the prior fiscal period and that the pension sits at about 76%…
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