NCRS trustees approve COLA-policy changes and actuarial assumptions

The TSERS trustees directed staff to develop a policy proposal for recommending future cost-of-living adjustments when investment gains are sufficient; legislative action remained necessary. LGERS trustees approved using sufficient investment gains for COLAs or supplements without a simultaneous employer-rate increase. Both boards adopted a Gallagher five-year experience study retaining the 6.5% annual investment-return assumption and extending the unfunded-liability amortization period from 12 to 15 years. These decisions did not themselves enact a permanent TSERS benefit increase.