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Falls Church’s Pension, Retirement Funds In Top Order, Shields Reports

The City of Falls Church’s pension fund and post-retirement health benefit funds are both at or above 100 percent of anticipated costs, placing the City in one of the strongest positions as among the best-funded jurisdictions in Virginia and the nation, City Manager Wyatt Shields reported at the City Council’s business meeting tonight.

The funds will remain strong going forward, Shields said, despite stagnation in the stock market, as the City has pro-actively moved to increase the share of participation by its employees in the solvency of the funds, and is prepared to do more going forward.

 

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