Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Pension Health topic
No spam. Unsubscribe anytime.
Adviser: Monroe pension plans nearly fully funded, well above municipal averages
Summary
The investment adviser said the pension plans show 'almost a 100%' funded status based on the most recent (2024) valuation, and that the OPEB plan is unusually well funded compared with municipal peers.
During the quarterly review the adviser said the most recent actuarial valuation (2024) shows the town pension plans are in strong funded status, reporting "almost a 100% for both of the pension plans" and noting that typical municipal OPEB funded status averages cited in the presentation are far lower. The adviser recommended keeping the current return assumption (6.75%) and highlighted that the plans' strong funded positions are favorable compared with the municipal average.
Trustees asked clarifying questions about the assumptions and long‑term return targets; the adviser said a 6.75% return assumption is reasonable and reasonable for long‑term planning, and noted the Board of Education plan has similar positioning. The adviser framed funded status as a comparative metric and suggested continued monitoring through the governance calendar and periodic valuations.
