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Montgomery County retirement board hears strong 2024 returns; actuarial valuation will determine COLA timing
Summary
Board members approved December minutes and heard that Montgomery County contributed 100% of its required pension contribution in 2024 ($26.3 million). Investment presenter Kathy reported a year-end market value near $652.9 million and an 11.7% calendar-year return; an actuarial valuation due June/July will determine whether the plan exceeds the 80% funding threshold needed to trigger COLA action.
The Montgomery County Employees Retirement Board approved its December minutes and received reports on plan funding and 2024 investment performance.
CFO Remarks and County Contribution
The county made a full required contribution for calendar year 2024, Speaker 4 reported: “We ended up making a 100% of our pension plan contribution. That was 26,300,000.0.” The board’s budget for 2025 anticipates a county contribution of about $30,100,000, planned as roughly $500,000 per quarter.
Why the valuation matters
Board members pressed staff about the timing and effect of the actuarial valuation. Speaker 4 said the actuarial valuation as of Jan. 1, 2025, is being updated and that the plan’s funding percentage…
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