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Fullerton advisory committee reviews pension and OPEB 115 trust; assets, returns and actuarial shortfall discussed
Summary
City consultants and investment managers presented the status of Fullerton's combined 115 trust and operating portfolios: the pension/OPEB trust held about $748,000 (as of Nov. 30), actuarial net OPEB liability was presented near $26.1 million, and the actuary's recommended annual contribution (ADC) for OPEB was $1.8 million.
City consultants and the city's portfolio manager gave the Investment Advisory Committee a detailed review of the city's 115 trust for pension and other postemployment benefits (OPEB), the portfolios that underlie the city's operating funds, and recent returns.
Ashley Byres, a PARS representative, told the committee the combined 115 trust pools assets for fee efficiency while keeping pension and OPEB accounting separate. "Account balance at 748,000," she said, presenting contribution and earnings history showing an initial contribution in 2020 followed by additional contributions totaling $487,000 and net investment earnings of about $261,000 (figures presented as of Nov. 30).
The PARS presentation summarized actuarial results from GovInvest (measurement date June 30, 2023): the plan…
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