Summary

Port Orange General Employees’ Pension Board sets 6.5% assumed rate of return; Foster & Foster to administer trustee elections

Port OrangeApr 29, 20252 min read

At a glance

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At a special meeting on April 29, 2025 the Board determined a quorum, voted 6-0 to adopt a 6.5% assumed rate of return for the October 1, 2024 valuation, directed the actuary to submit the valuation to the State, and agreed by consensus to have Foster & Foster administer electronic nominations/elections for expired trustee seats.

Committees mentioned

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City Council

Topics discussed

LaborBudget & Tax

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Key decisions

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Adopted a 6.5% assumed rate of return for the plan (motion by Mark Simpson, second by Scott Sittner; carried 6-0).
Actuary (BPAS/David Leonard) to submit the October 1, 2024 valuation report to the State.
Foster & Foster to administer the electronic nomination and election process for trustee seats with expired terms.

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Meeting information

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General Employee's Pension Board Meeting - Special

Apr 29, 2025, 2:00 PM1000 City Center Circle, 2nd Floor Conference Room, Port Orange Fl 32127completed

Agenda

A. CALL TO ORDER
1. Roll Call
Decision: CALL TO ORDER
B. DISCUSSION/ACTION
2. Approval of Minutes
Decision: DISCUSSION/ACTION
C. REPORTS AND COMMENTS
3. Consultant Reports
Decision: REPORTS AND COMMENTS
D. PUBLIC COMMENTS
E. ADJOURNMENT