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Lawrence County Retirement Board votes to replace Korn Ferry with Foster & Foster for actuarial work
Summary
At a May 20 special meeting the Lawrence County Retirement Board terminated its contract with Korn Ferry and approved hiring Foster & Foster to complete the county employees' actuarial report; the move, board members said, responds to service delays that threatened timely audit completion.
The Lawrence County Retirement Board voted on May 20 to terminate its contract with Korn Ferry and to enter a new contract with Foster & Foster for actuarial services for the county employees retirement fund.
The change follows complaints from board members about recent turnover and communication failures at Korn Ferry that delayed the annual actuarial report auditors need to complete the county’s financial statements. David, a member of the retirement board, said the auditors “need that report to complete their audit” and that work was expected from the actuary within “probably 2 to 3 weeks.”
Sarah Wilson,…
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