The FPIF Board of Trustees met on December 13, 2021 and approved the FPIF actuarial rate of return and the 2021 Actuarial Experience Study. The Board adopted an actuarial rate of return of 7.125%. The return assumption together with the other demographic and economic assumptions necessary for the preparation of actuarial statements can be found in the 2021 Actuarial Experience Study.
The Board also approved the Fiscal Year 2021 Annual Financial Report and is pleased to announce there were no material deficiencies identified by FPIF’s auditor.