4. How many valuations are required?
Cities and towns interested in joining CMERS must undergo (and pay for) the initial estimated actuarial valuation (and any “true-up” calculation if required). There are several things to note about the cost, first, it is based upon the number of employees in a group, department or classification. Second, the cost is applied to each valuation. For example, a valuation for a group of 25 firefighters with credit for past service will cost $1,250. However, a second valuation for a group of 25 firefighters without credit for past service will cost an additional $1,250.