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SWS: ARL fund shows strong recent returns; model change extends landfill life and yields $5.2M attributable excess
Summary
Solid Waste Services presented a five-year update to the ARL closure and postclosure investment fund: 2025 returns were strong (16.9%), the board adopted a glide-path allocation, a revised compaction assumption extended landfill life from ~2064 to ~2105, and the model identifies about $8.6M in excess funds—roughly $5.2M attributable to the compaction-rate change; any transfer requires assembly approval.
Kelly Toth, Solid Waste Services director, and Angie Astell and Jeff Sins from the ARL Closure and Postclosure Fund Board presented an update on the fund’s investment performance and the five-year update to the long-term financial planning model.
Astell reported the fund returned 16.9% in 2025 (benchmark 16.8%) and had a 5-year actual return of 6.3% versus a 5-year model assumption of 5.5%. The board adopted a glide-path investment approach (starting around 60% equities and 40% fixed income) and engaged Callan as its investment adviser; Callan’s capital market forecast projects a 5-year…
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