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Board approves six-year extension to actuarial services contract with Segal
Summary
The Imperial County Board of Retirement approved an amendment extending its contract with The Segal Company for actuarial services for up to six years (five years plus an optional sixth). The board voted to approve an amendment to formalize the extension and moved forward without recorded opposition.
The Imperial County Board of Retirement voted to approve an amendment extending its actuarial services agreement with The Segal Company by a five-year term with an optional sixth year.
Board members considered a supplemental handout containing the proposed amendment. A staff member told trustees the paper document provided “an actual amendment to that original agreement” and recommended formal approval. The staff member summarized the change: “The specific amendment was to include the extension of Segal's new term for an additional 6 years.”
Trustee David H. Prince moved to accept the amendment; Trustee Suzanne C. Ramirez seconded. The motion carried after the board voted “aye” with no recorded opposition on the transcript.
The vote finalizes an extension of the retirement system’s actuarial vendor relationship; the board did not discuss new fee levels or other contract price details during the public portion of the item. The amendment appears intended to formalize services already provided and to secure Segal for the upcoming pension administration transition.
The board moved on to other business after the vote.
