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Board debates OPEB discount rate (6.00% vs. 6.25%) as city reporting deadline looms
Summary
Trustees discussed preliminary OPEB valuation results and whether to raise the discount rate from 6.00% to 6.25%, which would reduce the reported OPEB unfunded liability by roughly $28–29 million but increase near‑term city contributions; staff warned a Feb. reporting deadline may require a special meeting to finalize the decision.
The board reviewed preliminary results for the OPEB (other post‑employment benefits) valuation and weighed whether to adopt a 6.25% discount rate rather than the current 6.00% assumption.
Chiron and staff showed the OPEB UAL would fall from about $463 million to roughly $434.5 million if the board adopted a 6.25% rate, a reduction of about $28–29 million.…
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