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Portsmouth retirement board: pension about 75% funded; actuarial contribution to rise to ~$8.9M for FY26
Summary
Actuarial and investment consultants told the council the closed retirement system holds about $200 million in assets and is roughly 74–75% funded; the actuary recommended an actuarially determined contribution near $8.9 million for fiscal 2026 and said liability changes from a new mortality table raised the contribution roughly $750,000.
City retirement-system advisers presented a fiscal snapshot to the Portsmouth City Council on Dec. 9, saying the closed defined-benefit system (fire, police and supplemental plans) held about $200 million in trust and was approximately 74–75% funded as of the June 30, 2025 valuation date.
A Morgan Stanley actuarial presenter summarized the valuation and funding policy: the plan’s actuarially determined contribution (ADC) for fiscal 2026 is approximately $8.9 million (not including an $11 million pension-obligation bond payment that is separate),…
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