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Thurston County officials review risk fund structure, say reserves are actuarially set
Summary
County staff told commissioners the county’s risk fund balance is set by actuarial analysis, departments are experience-rated, and large catastrophic losses would be shared through the excess risk pool above a $7 million attachment point.
Thurston County officials reviewed the structure and recent activity of the county’s risk fund at the Jan. 22 Board of County Commissioners work session, explaining how reserves and internal department rates are calculated.
County risk and finance staff told the board the fund balance is actuarially determined using a five‑year history of claim payments, anticipated claim estimates and current reserve levels. "We try to keep it at about a 90% confidence rate," a risk/finance presenter said, describing the target confidence the actuarial work uses to set the required balance.
The board was shown a one‑page summary and a three‑year chart of claims and beginning fund balances. Commissioners asked why beginning…
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