Pension Committee Meeting 07/23/2026

The Glynn County Pension Committee met on July 23, 2026, to review quarterly pension fund activities and the January 1, 2026 actuarial valuation report presented by actuaries from Nyhart. Key procurement-related discussions included the review of invoices paid by the pension service provider and the presentation of benefit applications and lump sum payouts for the quarter. The actuarial report highlighted an improved funded ratio of 82.2%, a recommended pension contribution of approximately $5 million for the next fiscal year (smoothed from a calculated $5.7 million), and updates to mortality assumptions and amortization periods. Investment performance was also reviewed, noting a 12% total return on assets and a portfolio heavily weighted in equities. The committee discussed the importance of maintaining the plan's funded status and compliance with evolving regulations, including federal required minimum distribution changes. No new contracts or vendor selections were reported, but the meeting emphasized ongoing stewardship and financial management of the pension fund.