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Ways and Means authorizes Delta contract review, approves pension amortization extension
Summary
The Eaton County Ways and Means Committee authorized county administration to proceed with final review of a proposed contract with Delta Township and voted to extend pension amortization for most county retirement groups after staff said the moves would reduce near-term pension costs.
The Eaton County Ways and Means Committee on Wednesday authorized county administration to review and, if acceptable, finalize a proposed contract with Delta Township and approved an amortization-extension (reamortization) plan for most county pension groups aimed at lowering near-term pension costs.
County Deputy Administrator and Human Resources Director Ben (first name on record) told commissioners the financial projection in staff materials was based on a $2.2 million one‑time injection into the county pension fund. He said Delta Township was then considering a $2.0 million commitment and the county would provide roughly $1.0 million in the scenario staff modeled. ‘‘If we make a $3,000,000 injection today, it will immediately adjust that,’’ Ben said, adding the injection targets sheriff’s office pension groups that support services under the proposed Delta contract.
The committee unanimously approved a motion to send the Delta contract back to county administration for final review and to authorize follow-up steps if the terms…
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