City of Palo Alto AgendaPacket Finance Committee Special Meeting 2026-05-19
Actuarial Firm Updates City OPEB Valuation
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Description
Palo Alto engaged Foster and Foster Actuary Consultants to complete the June 30, 2025 actuarial valuation of its retiree healthcare OPEB plan. The report determines updated liabilities, funded status, and Actuarially Determined Contributions for fiscal years 2027 and 2028.
Contract Details
Vendor
FOSTER AND FOSTER ACTUARY CONSULTANTS
Agency
City of Palo Alto Regional Water Quality Control Plant, CA
Contract Type
PROFESSIONAL_SERVICES
Document Date
May 19, 2026
Contract Term
Bi-annual actuarial valuation as of June 30, 2025 covering FY 2027 and FY 2028 contributions
Renewal Info
City contracts for actuarial services on a bi-annual cycle to update OPEB valuations and ADC amounts; future renewals or new procurements will be needed for subsequent valuation cycles.
Issuing Agency
City of Palo Alto Regional Water Quality Control Plant
Special District
Palo Alto, CA
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