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- Three Valleys MWD's GASB 75 report shows Total OPEB Liability jumped 47.3% to $2,466,123, driven by a $762,882 cost from enhanced retiree health benefits. - The benefit changes, effective January 1, 2026, raised the monthly retiree benefit to $1,000 with a 2.5% annual escalator and added dental and vision coverage. - Funded status dropped from 78.2% to 59.9% as trust assets grew only 12.9% to $1,477,653, leaving an unfunded OPEB liability of $988,470. - Staff proposed a $500,000 Section 115 trust contribution to restore funded status to about 80.2%, with an action item scheduled for the October 21, 2026, board meeting.

- The Board of Retirement will decide whether to award STAR COLA benefits, with actuarial cost estimates from Milliman showing $763,000 for a one-year ad-hoc addition or $7,941,000 for a permanent one. - Milliman presented the 2026 OPEB valuation cycle, including the July 1, 2026 valuation to be presented to the Board in February 2027 and a 2026 experience study due in summer 2027. - LACERA's OPEB program undergoes triennial actuarial audits by an outside firm, currently CavMac, maintaining a recurring audit cycle. - The Insurance, Benefits and Legislative Committee discussed SACRS 2027 legislative proposals, including amendments affecting…