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Oldsmar firefighters' pension board accepts actuarial valuation; estimates roughly $662,000 contribution
Summary
The Oldsmar Firefighters' Pension Board accepted a 10/01/2025 actuarial valuation estimating a combined minimum contribution of about $662,003 for the plan; trustees separately approved a 6.75% assumed rate of return and were told CHAP (chapter) distributions will reduce the city's outlay.
Trustees for the Oldsmar Firefighters' Pension Board voted to accept the board's actuarial valuation dated Oct. 1, 2025, and separately approved a 6.75% assumed long-term rate of return.
The board's consulting actuary, identified in the meeting as Chuck, told trustees the valuation is a recommendation and not final until the board approves it. He described several actuarial assumption choices and said the report uses the Florida Retirement System (FRS) mortality table as required, and that he has mirrored several additional FRS assumptions where appropriate. "It's a recommendation. It's not official until the pension board officially takes action to approve the report," Chuck said during his presentation.
Chuck directed trustees to the valuation's Table 1a and emphasized that the percentage-of-pay figure can be misleading for a frozen plan with a shrinking…
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