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MTA pension update: assets $79.1M, liabilities $92.7M; board reminded of guarantor role
Summary
At the annual pension overview staff reported FY2024 assets of $79.1 million and liabilities of $92.7 million (funded ~85%), with an unfunded liability of about $13.6 million; staff explained the board's limited guarantor exposure and the pension committee's oversight.
Amanda Vandenberg, presenting the annual pension overview to the board, summarized the pension plan's history, governance and the results of the fiscal‑year 06/30/2024 audit and valuation.
Vandenberg said auditors had no findings or significant deficiencies for FY2024. According to the valuation performed by Buck actuaries, plan assets were $79,100,000 and plan liabilities $92,700,000, leaving a funded ratio just over 85% and an…
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