June 12, 2026 General Employees' Pension & Retirement
City of Mount Dora
Latest meetings
June 12 2026 General Pension Board Meeting Packet
[510 North Baker Street, Mount Dora, FL 32757] This document contains meeting agendas and minutes for the City of Mount Dora General Pension Board from December 2025 to June 2026, along with market environment reports. The board discussed and approved various financial items, including invoices and investment fund transfers. Key actions included authorizing the transfer of ASB investment funds into the Cohen & Steers Tactical Real Estate Fund and reviewing actuarial and GASB reports. The market reports detail economic conditions, equity and fixed income performance, and sector-specific returns for Q1 2026 and the trailing year. No specific development projects or contractor opportunities are mentioned. This document is an actuarial valuation report for the City of Mount Dora General Employees' Retirement System as of October 1, 2025. It details the system's funding progress, determines the employer contribution rate for the fiscal year ending September 30, 2027, and provides actuarial information for GASB Statement No. 67. The report indicates a funded ratio of 102.2% as of October 1, 2025, an increase from 100.9% the previous year. The required employer contribution for FYE 9/30/2027 is $192,306, representing 12.21% of covered payroll. Key changes include an increase in the required contribution due to updated mortality tables mandated by Florida Statutes, and a net actuarial loss of $30,824 primarily from less retiree mortality than expected and more service retirements than expected, partially offset by investment returns above the assumed rate. The system was closed to new non-bargaining unit members on September 30, 2010, and to new bargaining unit members on March 6, 2012. The report also outlines various risks associated with measuring the accrued liability and actuarially determined contribution, including investment risk, asset/liability mismatch, and longevity risk. It provides a Low-Default-Risk Obligation Measure (LDROM) of $19,446,994 with a discount rate of 4.90%. Detailed participant data, valuation results, financial accounting information, and a summary of plan provisions are included. This document is an actuarial valuation report for the City of Mount Dora General Employees Retirement System as of October 1, 2025. It details the system's financial status, including assets, liabilities, contributions, and demographic assumptions used for calculations. It also includes information on Other Post-Employment Benefits (OPEB) for the fiscal year ending September 30, 2025. The report does not contain information about specific construction projects, contractors, or trades. This document details the actuarial assumptions and methods used by the City of Mount Dora for its Other Post-Employment Benefits (OPEB) for the fiscal year ending September 30, 2025. It outlines the discount rate (3.81%), salary increase rates (ranging from 5.5% to 12.5% including inflation), retirement age assumptions, mortality rates, and healthcare cost trend rates (starting at 6.50% in 2025 and decreasing to 4.00% in 2043). It also details the OPEB expense for the employer, deferred outflows and inflows of resources, and provides a summary of participant data including active employees and retirees. The document specifies eligibility for retiree benefits, health-related benefits, retiree contributions, premium rate subsidies, and life insurance coverage. It also includes sensitivity analyses for the total OPEB liability based on changes in the discount rate and healthcare cost trend rates. The document does not contain information about specific development projects, addresses, or case numbers. This document is part 5 of 5 and contains a Quarterly Market Perspective from Galliard Capital Management, LLC for the First Quarter of 2026. It discusses labor market trends, business activity, consumer activity, mortgage rates, home sales, and home prices. It also includes a glossary of financial terms and contact information for Galliard Capital Management. There are no specific development projects, addresses, or case numbers mentioned in this section.
- Board:
- June 12, 2026 General Employees' Pension & Retirement
- Date:
- 2026-06-12
- Type:
- Agenda_packet
- Address:
- 510 North Baker Street, Mount Dora, FL 32757
- Applicant:
- City of Mount Dora General Pension Board
June 12 2026 General Pension Board Minutes
The Mount Dora General Pension Board met on June 12, 2026. The board approved minutes from previous meetings (December 12, 2025, and March 20, 2026) and unanimously voted to appoint Anthony Harley to fill the remainder of Richard Maglio's term expiring November 2028. They also unanimously approved the Actuarial Valuation Report as of October 1, 2025, and established a reasonable return rate of 6.25% for short, intermediate, and long terms. The board unanimously approved paid invoices totaling $22,977.67, including payments to Salem Trust ($2,500.00), Sugarman & Susskind ($852.75), GRS ($14,518.00), and ASB ($2,457.04 and $2,649.88). The board updated its Action Items List. A reminder was given that Form 1 filing is due online with the State of Florida on July 1, 2026. The meeting adjourned at 11:22 AM.
- Board:
- June 12, 2026 General Employees' Pension & Retirement
- Date:
- 2026-06-12
- Type:
- Minutes
- Decision:
- Approved minutes, appointed board member, approved actuarial report, established return rate, approved invoices.
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