Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Auditors report improved investment returns, recommend forwarding Wayne County retirement audits to commission
Summary
Sandra Allen, Legislative Auditor III, told the Wayne County Committee on Audit on Oct. 12, 2025, that independent external auditors issued clean opinions for both the defined benefit and defined contribution plans of the Wayne County Employees Retirement System for the fiscal years ended Sept. 30, 2024 and 2023.
Sandra Allen, Legislative Auditor III, told the Wayne County Committee on Audit on Oct. 12, 2025, that independent external auditors issued clean opinions for both the defined benefit and defined contribution plans of the Wayne County Employees Retirement System for the fiscal years ended Sept. 30, 2024 and 2023.
Allen said the defined benefit plan's total assets rose by $100.3 million, a 10.1% increase from the prior year, driven by strong investment returns of 15.1% in fiscal 2024 compared with 10.3% in fiscal 2023. She said total liabilities remained essentially stable at about $2.9 million in 2024 compared with $3.1 million…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
