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The board approved an annual valuation showing the retirement plan 85.96% funded and set the expected long-term investment return at 7.25%. The minimum required funding for fiscal year 2026 is $967,731.
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The plan’s funded percentage declined from 90.63% to 85.96%, although its market value increased to $27.69 million and investments returned 13.15% based on market value. The board approved the valuation, confirmed the 7.25% investment-return assumption, and found that no portfolio rebalancing was needed. The board also acknowledged the fund’s final-quarter expenditures and receipts and approved the reappointments of Brenda Black and Elon Poole for four-year terms.
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