DATE: March 17, 2026
TO: Board of Supervisors
SUBMITTED BY: Donald C. Kendig, CPA, Retirement Administrator
SUBJECT: June 30, 2025 Annual Actuarial Report and FY 2026-27 Retirement Contribution Rates
RECOMMENDED ACTION(S):
TITLE
1. Receive and file the Fresno County Employees' Retirement Association (FCERA) Actuarial Valuation and Review report (the Actuarial Valuation and Review report) as of June 30, 2025 completed by The Segal Group, Inc. (Segal), FCERA's actuary; and
2. Approve and adopt the Board of Retirement's recommended employer and member contribution rates, for FY 2025-26 as provided for in the FCERA member contribution rates in Section 4, Exhibit 3 entitled "Member Contribution Rates," the employer contribution rates in Section 2, Subsection F entitled "Recommended Employer Contribution Rate," and the Administrative Expense Load percentage of Payroll rates in Section 4, Exhibit 1 of the Actuarial Valuation and Review report as of June 30, 2025, in accordance with Government Code sections 31453 and 31454.
REPORT
Generally, under Government Code section 31453, upon the basis of the investigation, valuation, and recommendation of FCERA's actuary, the Board of Retirement, at least 45 days prior to the beginning of a fiscal year (here, FY 2026-27), recommends to your Board the changes in the rates of interest, in the rates of contributions of FCERA members, and in County and district appropriations (i.e., employer contributions) as are necessary. Accordingly, Government Code section 31454 generally requires your Board, no later than 90 days following the commencement of the fiscal year (here, FY 2026-27), to adjust the rates of interest, the rates of contributions of FCERA members, and employer contributions in accordance with the recommendations of the Board of Retirement.
FCERA's delivery, on behalf of the Board of Retirement, of the accompanying Actuarial Valuation and Review report by Segal to your Board, along with this item, enables your Bo...
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