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Sarasota police pension board accepts FY2025 actuarial valuation; contribution rate to 38.78% of pay
Summary
At its Jan. 22 meeting the Sarasota Police Officers Pension Planning Board of Trustees accepted the fiscal‑year 2025 actuarial valuation presented by Pete Strong of GRS, recording a required contribution of 38.78% of pay and a 91% funded ratio on a smoothed basis; trustees also affirmed a 6.5% assumed return as required by Florida statute.
Pete Strong, an actuary with GRS, told the Sarasota Police Officers Pension Planning Board of Trustees on Jan. 22 that the fund had “a good year in terms of experience” and that investment returns and payroll growth together drove the required contribution for the next fiscal year to 38.78% of pay, down from 40.28% this year and 44.32% the prior year. Trustees voted to accept the fiscal‑year 2025 actuarial valuation as presented.
Why it matters: the valuation describes the pension’s current financial health and sets the contribution trustees will use for budgeting. Strong said the plan’s funded ratio is 91% on the board’s smoothed (actuarial) basis, and that the market value of assets, if used in place of the smoothed value, would show a funded ratio closer to 97.9%. He told trustees the plan built a cushion as market gains outpaced actuarial…
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