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Suffield retirement fund's funded ratio rises to 82.3%; commission adopts new mortality table
Summary
The Retirement Commission accepted a July 1, 2025 actuarial valuation showing a funded ratio increase to 82.3% and approved a new mortality table and related experience-study recommendations after a small liability adjustment raised the ADEC slightly.
Kacy Colston, chair of the Suffield Retirement Commission, opened the Feb. 19 meeting and introduced Ellen Kucenski of USI Consulting Group, who presented the July 1, 2025 actuarial valuation. The valuation showed the plan's funded ratio rose to 82.3% in 2025 from 79.6% in 2023; the Actuarially Determined Employer Contribution (ADEC) was reported as $1.561 million for fiscal 2026/27 (down from $1.620 million for FY 2025/26). The employer normal cost declined to $401,000 from $447,000 in 2023.
Kucenski told commissioners that an assumptions review (mortality, retirement, turnover and rate-of-pay assumptions) and the experience study produced a net 1.1% increase in liability that revised the ADEC for FY 2026/27 from $1.561 million to $1.575 million. Following the presentation, Commissioner David Mercik moved that the commission adopt the new mortality table and accept the experience-study recommendations, with Commissioner David Innes seconding; the motion passed unanimously, 6'9. The commission also retained the previously recommended adjustments for Public Safety retirees and other survivors.
Why it matters: the valuation sets the town's contribution planning and helps town finance staff and elected leaders budget for the pension liability. The change in assumptions and the small ADEC increase reflect updated demographic and experience information used by USI Consulting to project long-term costs.
What happens next: the commission adopted the actuarial recommendation at the Feb. 19 meeting. The valuation figures and policy changes will be used in upcoming budget conversations and reporting to the town's finance office and other stakeholders.
