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Staff says three independent actuarial assessments align with consulting actuary; staff to recommend ADEC-style funding policy
Summary
PERS staff told trustees that three independent actuarial assessments produced results consistent with the consulting actuary — an actuarial determined contribution near 26% of payroll — and said they will likely recommend moving the board’s funding policy toward an ADEC (actuarial determined contribution) approach at a future meeting. Staff emphasized PERS’s stability while noting funding needs.
At the Oct. 23 meeting, staff summarized findings from three independent actuarial firms, saying the assessments largely corroborated the consulting actuary’s results and indicated an actuarial determined contribution (ADEC) of roughly 26% of payroll.
Staff described the reviews as confirmatory: the independent firms produced results similar to last year and to the consulting actuary’s recommendation. Staff said…
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