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Controller: Trenton’s MERS plan 77% funded, valuation presented to council
Summary
Controller Cooper presented the 12/31/2025 MERS actuarial valuation, reporting the plan is 77% funded with cited asset and liability figures; the transcript records an inconsistent arithmetic statement about the unfunded liability, which the council received and placed on file.
Controller Miss Cooper presented the city's 12/31/2025 MERS annual actuarial valuation and asked the council to receive and place the report on file.
She reported the plan is 77% funded and provided figures of $36,400,000 in assets versus $47,500,000 in accrued liabilities. In the transcript she also described the unfunded liability as "just over 1,000,000 dollars" and said that figure was a $1,800,000 decrease from the prior year. The asset and liability numbers imply an unfunded amount near $11.1 million; the discrepancy appeared in the spoken record and was not reconciled during the meeting. The controller also said the city continues an annual $2,500,000 payment through June 30, 2030.
Council moved to receive and place the valuation on file; the chair recorded the motion as approved unanimously.
The council did not request further detail or an immediate reconciliation of the arithmetic during the meeting; staff follow‑up with the controller’s office or the actuarial report would be required to clarify the apparent inconsistency.
