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2023 valuation shows a 5.5-year amortization period
The actuaries said the main change from the prior valuation was the lower 7.35% return assumption and that the fund "continues to be in a very well-funded position with an amortization period of 5.5 years." The board approved the December 31, 2023 valuation unanimously.[1]
What the sources say
- ✓ Verified
Rudd and Wisdom, Inc. (fund actuaries): The actuaries said the fund "continues to be in a very well-funded position with an amortization period of 5.5 years." [1]
- Amortization years
- 5.5
- ✓ Verified
Reported amortization periods: 38.1 years in the December 31, 2019 valuation (with the 2021-2022 contribution increases), 6 years in the December 31, 2021 valuation (Comptroller data) and 5.5 years in the December 31, 2023 valuation. The minutes read do not attribute the change to specific causes. [2][3][1]
