The board received an actuarial valuation recommending minor assumption changes (salary-increase and turnover assumptions, keep an investment return near 7.4%). The actuary estimated those changes would reduce city cost by about 0.2% of payroll while slightly lowering the funded ratio to about 76.7%.

The Law Enforcement Officers' and Fire Fighters' Plan 2 Retirement Board voted Dec. 17 to adopt updated long‑term economic and demographic assumptions, including a modest bump in inflation and the PUB‑2016 mortality tables; staff said the combined updated assumptions project a funded status near 101–102%.

Mitch DeCamp of the Office of the State Actuary reported the 2024 valuation for the Law Enforcement Officers' and Fire Fighters' Plan 2 (LEOFF Plan 2). Market returns exceeded assumptions, actuary recognized past deferred gains, participant data showed higher-than-expected salary growth and retirements, and projections (including a strong 2025 gain

After reviewing a six‑year experience study showing higher retiree deaths and mixed retirement/turnover patterns, the board deferred adoption of proposed mortality and economic assumption changes to its July 9 meeting to allow members more time to review the data.

Palm Springs Unified’s business office presented the 2026–27 budget, noting a 4.31% COLA (including a 1.44% augmentation tied to paid pregnancy leave), an expected combined general fund of about $450 million, a projected net decrease near $9.5 million, and a stabilization plan that has already saved roughly $23 million.

Actuarial presenters recommended increasing the wage-inflation assumption from 3.00% to 3.25% for the 2025 actuarial valuation, leaving the discount rate at 6.625%. Staff said the change would raise city costs by about $2 million and increase member contribution rates modestly.