LEOFF Plan 2 board adopts updated economic and demographic assumptions 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%.

The Law Enforcement Officers' and Fire Fighters' Plan 2 Retirement Board has approved significant updates to economic and demographic assumptions that could boost funded status to nearly 102%!

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Office of the State Actuary: LEOFF Plan 2 posts $22 billion in assets; projections show short-term funded status gains 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

The Law Enforcement Officers' and Fire Fighters' Plan 2 is seeing a promising boost with $22 billion in assets and projections of rising funded status—are you ready to find out what this means for the future?

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Actuaries recommend raising wage-inflation assumption to 3.25%; discount rate held at 6.625% 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.

Actuaries are pushing for a wage-inflation assumption increase that could add $2 million to city costs—what does this mean for your contributions?

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