2. Age/Service/Salary Distributions 40

June 12, 2026 Firefighters' Pension & Retirement · 2026-06-12 · agenda_item

The City of Mount Dora Firefighters' Pension and Retirement Fund is reviewing its October 1, 2025, annual actuarial valuation. This review includes discussions on valuation results, required employer contributions, and actuarial assumptions. The required employer contribution is projected to be 18.43% of payroll starting October 1, 2026. This process involves analyzing financial data and actuarial assumptions to determine future contribution needs. While no new construction or development is described, this review could lead to future adjustments in financial planning and potentially impact municipal budgets. Businesses involved in financial services, actuarial consulting, and potentially legal services related to public finance may find opportunities to engage with the city as these financial matters are reviewed and planned for.

Required Employer Contribution

711,747 $

Required Employer Contribution

597,183 $

Required Employer Contribution

114,564 $

As % of Covered Payroll

26.26 %

As % of Covered Payroll

25.12 %

As % of Covered Payroll

1.14 %

Estimated Credit for State Contribution

212,150 $

Estimated Credit for State Contribution

0 $

As % of Covered Payroll

7.83 %

As % of Covered Payroll

8.92 %

As % of Covered Payroll

(1.09) %

Required Employer Contribution

499,597 $

Required Employer Contribution

385,033 $

As % of Covered Payroll

18.43 %

As % of Covered Payroll

16.20 %

As % of Covered Payroll

2.23 %

Actual Employer and allowable State contributions

461,785 $

Actual Employer and allowable State contributions

212,150 $

Actual Employer and allowable State contributions

673,935 $

as % of covered payroll

28.32 %

payroll amount

2,380,014 $

annual required contribution

615,710 $

of covered payroll

25.87 %

increase

60,712 $

of covered payroll

2.24 %

net actuarial gain

207,186 $

investment return

8.8 %

assumed rate

7.0 %

salary increases

10.0 %

expected

5.5 %

required employer contribution

0.89 %

funded ratio

90.3 %

funded ratio

91.1 %

funded ratio

92.6 %

Contribution Rate Last Year

16.20 %

Actuarial Experience

(0.89) %

State Contribution

1.09 %

Change in Benefits

0.00 %

Change in Assumptions/Methods

2.24 %

Change in Administrative Expenses

(0.21) %

Contribution Rate This Year

18.43 %

City contribution requirement

18.43 %

market value of assets

830,140 $

contribution rate

3.6 %

City contribution rate

14.84 %

funded ratio

95.7 %