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Actuaries report improved returns; PERS ADEC rises to 25.98% and SLURP funding change recommended
Summary
CABMAC actuaries told the board PERS had strong investment returns (market ~11.2%, actuarial value ~9.1%), raised the actuarially determined employer contribution to 25.98% (roughly $2.0 billion on a full-year basis), showed multi-scenario funding options and recommended changing SLURP to level-dollar funding with a proposed $894,000 contribution next year.
Actuarial consultants from CabMac presented the PERS valuation as of June 30, 2025 and projection studies for related plans. They reported a strong investment year (about 11.2% market return; a 9.1% actuarial value return after smoothing) and said those gains improved funded-status metrics: the PERS funded ratio rose to about 56.7% on the actuarial basis.
Using the board-adopted funding policy and layered amortization methods, the actuaries calculated an actuarially determined employer contribution (ADEC) of 25.98% of payroll. The consultants said that level is equivalent to roughly $2.0 billion on an annualized basis if applied to current payroll levels and that, if the ADEC were paid each year, the…
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