Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Pension Actuarial topic
No spam. Unsubscribe anytime.
Clarkdale PSPRS board accepts 2024 actuarial valuation; two officers admitted into pension system
Summary
The Town of Clarkdales Public Safety Personnel Retirement System Board unanimously approved the state PSPRS actuarial valuation for 2024 and accepted two new police officers into the pension system. The valuation shows a 71.60% funded ratio and sets FY26 contribution rates for plan tiers.
The Town of Clarkdale Public Safety Personnel Retirement System Board on Oct. 30 unanimously accepted the Arizona PSPRS actuarial valuation as of June 30, 2024, and formally admitted two newly hired police officers into the towns pension system.
The boards chair, Betty Kramer, opened the meeting and moved to approve the actuarial valuation after a staff presentation. The valuation, prepared by the state PSPRS actuarial report, showed a funded ratio of 71.60% as of June 30, 2024. Staff said the town and state publish annual contribution rates to fund liabilities; for fiscal year 2026 the presented contribution rates were 21.27% of salary for tiers 1 and 2, 20.82% for the tier 3 defined-benefit plan, and 22.87% for the tier 3 defined-contribution plan. The board noted that the towns funding policy sets a goal of reaching a 100% funded ratio by June 30, 2046.
A staff member addressed questions about whether the favorable trend is expected to continue and deferred detailed prospective modeling to the finance director, who will present the next actuarial update at a future meeting. A board member asked how many active officers are in each tier; packet materials and the discussion indicated roughly four active members in tiers 1 and 2 and four in tier 3 (about eight actives total), though staff said it would confirm exact counts when the finance director returns.
On separate motions the board approved admitting two full-time police officers into PSPRS. Chair Betty Kramer moved to accept officer Kyle Nudelman into the pension system; the motion was seconded and passed by voice vote. The board then moved to accept officer Darren Ehrenberg, whose full-time start date was recorded as June 28, 2025; that motion also passed by voice vote. Meeting minutes record that both officers meet statutory certification requirements and have no preexisting conditions that would affect enrollment.
Votes at a glance: - Approval of minutes from 04/24/2025: motioned, seconded; passed by unanimous voice vote. - Acceptance of Officer Kyle Nudelman into PSPRS: motioned, seconded; passed by unanimous voice vote. - Acceptance of Officer Darren Ehrenberg into PSPRS: motioned, seconded; passed by unanimous voice vote. - Acceptance of the Arizona PSPRS actuarial valuation as of 06/30/2024 and FY26 rates: motioned, seconded; passed by unanimous voice vote.
The board scheduled the next actuarial report for a future meeting and adjourned at 4:14 p.m.
