June 12, 2026 Police Pension Board Meeting Packet

June 12, 2026 Police Officers' Pension & Retirement · 2026-06-12 · agenda_packet

[510 North Baker Street, Mount Dora, FL 32757] This document is an agenda and minutes for the City of Mount Dora Police Pension Board meetings, primarily focusing on financial reports, actuarial valuations, legal updates, and administrative items. It details past meeting minutes from March 20, 2026, and the agenda for the June 12, 2026 meeting. Key actions included approving disability retirement for Officer Kevin Brubaker and continuing legal services with Sugarman & Susskind with a 25% discount. The document also includes extensive market environment and investment performance reports for the quarter ending March 31, 2026, detailing asset allocation, fund performance, and market index data. No specific construction projects or development opportunities are mentioned. This document is an actuarial valuation report for the City of Mount Dora Police Officers' Pension and Retirement Fund as of October 1, 2025. It determines the employer contribution rate for the fiscal year ending September 30, 2027, and provides actuarial information for GASB Statement No. 67 for the fiscal year ending September 30, 2025. The report indicates a net actuarial gain of $1,239,337 since the last valuation. The required employer contribution for the fiscal year ending September 30, 2027, is $387,407 (10.32% of covered payroll), a decrease from the previous year. The assumed credit for state contribution is $228,548. The report notes that if the actual state payment falls below this amount, the City must increase its contribution. Mortality tables were updated to reflect the Florida Retirement System (FRS) assumptions, which increased the required employer contribution by 2.11% of payroll. The report states that the contribution rate is reasonable and consistent with the System accumulating adequate assets to make benefit payments. This document is an actuarial valuation report for the City of Mount Dora Police Officers’ Pension and Retirement Fund as of October 1, 2025. It details the fund's financial status, actuarial assumptions, and projected contributions. The report indicates a funded ratio of 103.3% for the year, an increase from 99.3% in the previous year. The required employer contribution rate is projected to be 10.32% of payroll starting October 1, 2026. The report also analyzes various risks associated with measuring the accrued liability and actuarially determined contributions, including investment risk, contribution risk, salary and payroll risk, longevity risk, and other demographic risks. It provides detailed participant data, historical valuation results, and a summary of actuarial assumptions and methods. The document does not contain information about specific construction projects, addresses, or development opportunities. This document is an actuarial valuation report for the City of Mount Dora Police Officers’ Pension and Retirement Fund for the valuation date of October 1, 2024, with a measurement date of September 30, 2025. It details the fund's financial status, including net pension liability, fiduciary net position, contributions, and actuarial assumptions. The report does not contain information about specific construction projects, development opportunities, or contractor solicitations. It focuses solely on the financial health and projections of the pension fund.