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Interim actuarial valuation shows 77.8% funded ratio; board accepts report but COLA conditions unmet
Summary
Actuary David Kirschner told trustees the plan’s interim funded ratio is 77.8%, below the 80% threshold in the board’s funding policy; the board accepted the interim valuation and authorized its release.
The City of El Paso Employees Retirement Trust board heard an interim actuarial valuation prepared by Gallagher on Jan. 31 and voted to accept the report and authorize its release.
David Kirschner, the presenting actuary, said the interim valuation (as of Sept. 1, 2025) uses projected liabilities from the last full valuation and updates asset values; because the plan uses a five‑year asset smoothing method, lingering losses from fiscal year 2022 still reduce the actuarial value of assets. Kirschner reported the funded ratio on an actuarial (smoothed) basis at about 77.8% and an actuarially determined…
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