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Actuary: Segal says higher funding assumptions were used in earlier projections; board orders reconciliations
Summary
Segal Consulting told the PEB board it had been working from higher AEGIS and RGGI funding numbers than the final budget and estimated a roughly $30 million per-year reduction in expected revenue; board asked staff to reconcile transfers and update projections.
Richard Ward of Segal Consulting told the board that the actuarial work supporting earlier rate proposals used AEGIS and RGGI funding amounts that turned out to be higher than the amounts in the legislatively approved budget. He told the board that the restatement reduces expected revenue by about $30 million a year and roughly $56 million over the two-year horizon used in the presentations.
War…
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