Latest Breaking News On - Annual required contribution - Page 1 : comparemela.com

Council moves $6M to pension funding policy

Peoria City Council, at its June 6 meeting, voted unanimously — 7-0 — in favor of amending the budget to make a $6 million payment from the general fund contingency

Lebanon officials approve proposed 2023 budget without a tax increase

While admitting that expenses are increasing next year, Lebanon County Commissioners pass a $100.5 million preliminary budget without a tax increase.

McClaughry: Candidate Questions for 2022 | Vermont Business Magazine

McClaughry: Retirement fund blues

Tue, 01/12/2021 - 4:42am tim by John McClaughry Not the least of the fiscal problems facing the 2021 governor and legislature is the perilous condition of the two state retirement funds, for state employees (VSERS) and public school teachers and staff (VSTRS). Both of these funds are “defined benefit” funds: the state government has the obligation to pay enough into the funds each year, along with contributions from current employees, to make sure there will be enough there to pay current and future retirees the promised pension checks for the next 30 years. That annual state payment is the actuarially determined Annual Required Contribution (ARC). The actuaries, looking years into the future, have to make assumptions about numbers of current and future retirees and crucially, the expected returns on the invested funds (now just over $4 Billion).