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Actuary recommends $10.5 million transition contribution for Rock Island police and fire pensions in 2025
Summary
An actuarial valuation presented to the Rock Island City Council recommends a combined transition contribution of $10,527,442 for 2025, with recommended employer contributions of $5,405,512 for fire and $6,271,466 for police; unfunded liabilities and high payout ratios signal long-term funding pressure.
Kevin Kavanaugh of Lauterbach and Aument presented the city’s 2025 actuarial valuation for the consolidated police and fire pension funds, recommending employer contributions of $5,405,512 for the fire fund and $6,271,466 for the police fund and a combined transition contribution of $10,527,442 for the current contribution year.
Kavanaugh said the city is phasing in a recent large increase from when his firm took over as actuary, using a five-year transition plan "instead of taking that big leap." He told the council the transition amount is intended to ease the city toward the full recommended contribution.
The valuation shows substantial unfunded liabilities: about $58 million for the fire fund and about $69 million for the police fund. Funded ratios reported by Kavanaugh were roughly 33% for fire and 39.62% for police. He…
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