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The board reviewed the July 1, 2025 pension valuation, which showed the fund’s funded ratio rising from 93.4% to 93.8% with $399 million in market-value assets. Members also approved retirement applications, pension calculations, contribution refunds, survivor benefits, and enrollment of six employees in the retirement fund.
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The valuation indicates that the pension fund was 93.8% funded as of July 1, 2025. The board approved several employee retirement and survivor benefits, including annual pensions of $8,353.54 and $43,078.89, and contribution refunds of $11,060.30 and $115,323.98. The board also denied a former mayor’s request and directed the Human Resources Department to coordinate an employee representative election in February 2026.
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