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The Retirement Board voted 5-0 to award its actuarial services contract to KMS Actuaries, LLC after all five members rated the firm’s proposal Highly Advantageous. The Board found both firms’ fee proposals acceptable and comparable.
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KMS Actuaries, LLC will provide actuarial services for the Shrewsbury Contributory Retirement System. The Board also discussed the system’s current 7.5% assumed actuarial rate of return, but the minutes do not indicate any change to that rate.
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