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The board unanimously approved a 6% expected annual rate of return and approved the pension plan’s actuarial valuation as of October 1, 2025. Members also authorized discussions with city officials about the premium tax and board membership.
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The 6% assumption is the annual investment return used to evaluate the pension plan’s funding status and future obligations. The board also approved its 2025 annual report, fiscal year 2025 accounting report, and the previously operated 2024-2025 budget. Members discussed the need to maintain enough board members to conduct business; the minutes state that three members currently serve.
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