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County approves hire of actuarial consultant to update trust study
Summary
LaSalle County board approved hiring an actuarial consultant to update its self-insurance trust actuarial study and authorized a not-to-exceed amount, with a narrow contingency described during the meeting.
LaSalle County approved retaining an actuarial consultant to update the county’s self-insurance trust actuarial study and projections, voting unanimously to authorize the hire and set a spending limit.
The vote came after county staff described that two consecutive years of better investment returns made it an appropriate time to update the study. "He'll tell us how much we're gonna be short the current plan," said Mike, a county staff member, describing the expected scope of the consultant's work.
Why it matters: The actuarial study will estimate the trust's unfunded liability and produce present-value calculations to show…
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