I. Employee Retirement Plans - Defined Benefit Plans (Continued)

City Council · 2026-04-21 · agenda_item

This notice concerns the City of West Melbourne's employee retirement plans, specifically defined benefit plans and the Florida Retirement System. The city is reviewing key actuarial assumptions for these plans, including inflation rates, payroll growth, investment return rates, and discount rates. These assumptions are based on actuarial experience studies and forward-looking capital market economic models. The review process involves analyzing mortality assumptions and updating discount rates. This item is currently under review by the City Council. The work involves actuarial analysis, financial modeling, and potentially adjustments to retirement plan funding. Local businesses specializing in actuarial services, financial consulting, and government accounting could find opportunities related to this ongoing review.

Inflation

2.40 %

Investment rate of return

6.70 %

Discount rate

6.70 %

Discount rate

3.50 %

Investment rate of return

5.20 %

Discount rate

3.93 %

Investment rate of return

4.20 %