Pension Plans Experience Study and Custody Agreement
At a glance
What: An actuarial experience study and a new custody agreement with Regions, both on the agendas of the City's three pension boards.
Where it stands: All three pension boards (police, general, fire) listed the Foster & Foster experience study and the Regions custody agreement on 2026-11-03. The General board also listed a revised Investment Policy Statement. Outcomes unknown.
Next: Check pension board minutes when posted.
Details
Experience study presented by Foster & Foster; content not read.
Custody agreement with Regions listed under each board's attorney's report; terms not read.
Sources
Pension board agendas of 2026-11-03 on the City's meeting portal.
Assumption changes (7.75 percent return) tabled to February 2027; Regions custody agreement approved at 4 basis points and an informal custodian search authorized; all three pension boards have now acted on the same custody motions.
Funded ratio 91.1 percent, $14.8 million unfunded liability; assumption changes tabled to February 2027; plan-change scenarios (cost-of-living, 2.1 percent multiplier, spousal benefit) requested; Regions custody agreement approved; about $7.5 million shifted into fixed income and the investment policy revised.
Assumption changes (7.125 percent return, 4 percent salary growth) tabled until at least the next meeting; an updated Regions custody agreement at 4 basis points (up from 3.5) was approved and an informal custodian RFP authorized. Other boards' outcomes not yet read.