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The committee unanimously supported increasing the pension portfolio’s target allocation from 60% stocks and 40% bonds to 65% stocks and 35% bonds, with formal investment-policy changes expected to be proposed at the next meeting. The committee also reviewed an $870,198 insurance deficit for the policy year ending June 30, 2025, driven substantially by large claims.
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The proposed allocation would place more pension assets in stocks, increasing potential returns and investment risk. The committee said large claims accounted for 21.6% of medical and prescription-claim costs, while prescription claims made up 51.4% of large-claim costs. Stop-loss insurance costs are expected to rise at renewal, and additional policy changes are expected to be discussed at a future meeting.
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