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Independent peer review finds Beaumont fire pension valuation reasonable
Summary
A Milliman actuarial peer review of the Beaumont Firemen's Relief and Retirement Fund concluded the fund's Dec. 31, 2024 valuation was reasonable and the report complied with actuarial standards, while offering technical recommendations for future assumptions and communication.
A Milliman peer review presented to the Beaumont City Council on Oct. 14 concluded that the Dec. 31, 2024 actuarial valuation prepared for the Beaumont Firemen's Relief and Retirement Fund was reasonable and complied with actuarial standards of practice.
Ryan Falls, an actuary with Milliman, told the council the firm replicated the fund actuaryresults within about $100,000 and found the valuation to be a sound…
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