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Trustees unanimously approved the actuarial valuation, an experience study, and updated investment-return assumptions. The plan’s funded ratio was reported at 78.0%, down from 80% the prior year, while assets increased to $48,835,105 and the portfolio returned 1.48% for the quarter.
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The approvals establish the pension plan’s current financial outlook and authorize a deeper review of its past experience, expected to be completed in summer 2026. The audit found the plan to be in a healthy position and operating within its administrative-cost expectations. The board also approved routine disbursements, benefit payments, and the 2025 audit report.
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