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Advisors: Torrington pension and OPEB funds broadly in line; no action taken
Summary
Torrington trustees heard Fiduciant Advisors report on pension and OPEB performance Nov. 5; consultants said funded ratios and return assumptions are in line with peers, noted operational changes at Principal custodian, and offered to perform transfer activity for the city at no extra fee.
Torrington officials heard a briefing Nov. 5 from Fiduciant Advisors on the city’s pension plans and its newly formed OPEB trust, but took no action pending a later meeting with a quorum. The consultant said the plans’ actuarial assumptions and funded positions were generally consistent with peer municipalities.
Consultant Chris Kasmier said the firm recently completed a merger with affiliates of its former parent company but emphasized the change will not affect day-to-day service: “Most importantly,…
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